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.
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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.
These two companied had on June 10 dragged the airline to the NCLT seeking bankruptcy proceedings.The airline, which was grounded on April 17, owes Rs 8.
IndiGo has placed an order of over 600 engines to CFM International, a French-U.53 PM ISTBCCLThe airline has selected CFM for the order, which is expected to rise above 600 engines including spares, the sources said.
If the petition is admitted, it’s the end of the road for the airline,” said a banker aware of the development.“We are not very hopeful of recovering our dues in bankruptcy as the other liabilities are much bigger than bank loans.
28 PM ISTBCCLThe airline has leased six aircraft from BOC Aviation to accelerate its growth in the domestic market.NEW DELHI: Full-service carrier Vistara's first Boeing aircraft has been grounded due to an engine related technical glitch, industry sources said on Tuesday.
PTI|Updated: Sep 11, 2017, 06.MUMBAI: Naresh Goyal today scotched rumours about Gulf carrier Etihad Airways exiting its over three year-old equity partnership with Jet Airways and also said he is not looking for another partner.
1% share of India's domestic market in April, according to government statistics, behind IndiGo's 49.9% and Air India's 13.
Short-haul, visaon-arrival destinations are gaining traction this summer as airfares and holiday packages to the US and Europe stay expensive due to the Jet Airways crisis and closure of Pakistani airspace.Fares have also increased in the range of 20% to the Gulf and around 22% to Europe, the official added.
The country was one of the fastest growing domestic aviation markets in the world for the past many months.NEW DELHI: The demise of Jet Airways has taken away the distinction of being the highest growing domestic aviation market in the world from India’s aviation, which fell by 0.
43 PM ISTReutersWhile SpiceJet is learnt to have inducted 20 of Jet's grounded B737 planes, Vistara took 4.New Delhi-Low-cost carrier Air Asia India has dropped its plan to lease B737 aircraft of grounded Jet Airways as the Tata group venture carrier wants to continue with one type of aircraft.
MUMBAI: The Hinduja Group will start the process of bidding for Jet Airways this week, having obtained the assent of key stakeholders in the grounded airline including founder Naresh Goyal and Etihad Airways, strategic investor in the carrier.Sources close to Naresh Goyal and the Hindujas said they share cordial ties that go back more than two decades.