He had stepped down as chairman of Jet Airways in March and the carrier ceased operations in April, after it ran out of cash.“In the GSA matter, there are alleged irregularities in transactions between Jet Airways and its Dubai-based group firms,” said another person.
Synergy Aerospace is still doing due diligence of Jet Airways, which was admitted for the insolvency on June 20, the airlines resolution professional Ashish Chhauchharia told the NCLT.30 PM ISTBCCLThe RP said Jet has agreed to vacate Siroya Center in the BKC and move the office to one of its own premises.
Committee of creditors reaches agreement with Luckystar Property to settle Siroya Centre dispute out of court.MUMBAI: The lenders of Jet Airways have approved the settlement with Luckystar Property Holding, the owner of the Siroya Centre, a building that once was headquarters for the grounded carrier.
Launched last September, SpiceXpress currently operates nine cargo flights now.52 PM ISTBCCLMUMBAI: Spicejet's cargo arm SpiceXpress has taken the lease-delivery of its first plane--a 737-800 Boeing Converted Freighter.
NEW DELHI: Vistara and Indi-Go are vying for the flying rights of grounded Jet Airways for the lucrative London route.The aviation ministry has initiated the process of distributing the rest of the long-haul international rights of Jet between Vistara and IndiGo.
PSU oil firms on Saturday resumed jet fuel (ATF) supplies to cash-strapped Air India following talks mediated by the government, an official spokesperson said.PTI|Sep 07, 2019, 07.
, a South American conglomerate that owns majority shares in airlines including Colombian carrier Avianca Holdings, has shown exploratory interest in investing in Jet Airways, said a person aware of the development.The conglomerate submitted an expression of interest for the bankrupt and grounded airline after the August 10 deadline set by the resolution professional running the bid process.
(Representational Image) MUMBAI: The Centre on Tuesday extended the process of temporary allocation of slots and bilateral foreign flying rights of defunct airline Jet Airways to other airlines till December, a senior official of the Ministry of Civil Aviation said.Due to a fund crunch, Jet Airways shut down its operations on April 17, which led to a sudden rise in domestic and international airfares.
MUMBAI: Billionaire Anil Agarwal’s family trust, Volcan Investments, emerged as a surprise contender for the debt-laden Jet Airways, being one of the three entities that responded to the call for expressions of interest (EOI) for the grounded airline.That perhaps explains why the statement made it clear that Vedanta has nothing to do with this exploratory interest.
The revised deadline for submission is now on August 10 instead of August 3.Defunct Jet Airways extended the deadline for submitting bids as interested applicants sought for additional time with the earlier cut-off date ending Saturday.
54 AM ISTReutersJPPL was formed as a fullyowned subsidiary of Jet Airways in 2012.It was hived off as a separate entity in 2014 when Etihad bought a 50.
30 AM ISTReutersMonthly invoice of Rs 15 cr was accounted for by Jet Airways for commercial activities without relevant documents supporting them.Board resolution, shareholder approval for making the provision was not made available to the auditors,” the forensic audit conducted by EY says.
After Jet ran into cash flow problems last year, its owner Naresh Goyal tried to woo both Air France-KLM and Delta Air Lines for a stake purchase, but without success.05 AM ISTAgenciesThe Air France-KLM combine is open to other commercial partnerships in India after Jet Airways’ grounding, senior executives of the megacarrier said.
8% to Rs 61,200 per kilolitre for domestic airlines in Delhi.8% to Rs 61,200 per kilolitre for domestic airlines in Delhi.
Our architecture critic finds not quite enough polish at the new hotel in Eero Saarinen’s 1962 TWA Flight Center, despite glamour to spare.The TWA Hotel now occupies Eero Saarinen’s stupendously restored 1962 TWA Flight Center at John F.
38 PM ISTBCCLThe airline owes Rs 8,500 crore to banks and around Rs 25,000 crore in arrears to vendors, lessors and employees.NEW DELHI: In a first-of-its-kind initiative, a Jet Airways Employee Consortium and AdiGroup Friday announced a partnership to bid for 75 per cent of the airline through the NCLT process, members of the consortium said.
The move may attract legal action as the distressed airline is undergoing an insolvency resolution process directed by India’s bankruptcy court.28 AM ISTAgenciesThe insolvency resolution process started after the National Company Law Tribunal last Thursday admitted a plea by Jet’s biggest lender the State Bank of India on repeated loan repayment defaults.
Business News›Sensex soars 489 pts, Nifty ends at 11,832; Jet defies gravity, vaults 122% Stock Analysis, IPO, Mutual Funds, Bonds & More LIVE BLOG20 Jun, 2019 | 03.5 per cent.
The petition by the lenders could be filed in the Mumbai NCLT as early as Tuesday.ET reported on June 17 that lenders will seal the fate of the airline in a crucial meeting to be held on Monday.
737 MAX is pushing some aerospace supply chains into a slow descent.The new look at production highlights the tough economics of shifting gears in big supply chains for high-cost manufacturing operations.