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Harley-Davidson Inc. reported a rise in profit in the second quarter, beating analyst estimates and sending shares up nearly 7% despite a two-week production shutdown that suspended bike shipments in mid-May.

Harley earnings beat estimates, aided by sturdy leisure sector demands

Two tech firms in Russia are in the soup now for not following domestic laws on data privacy. A Russian court has found that meta platforms including WhatsApp and Snapchat for not saving data of Russian users within countries boundaries.

Russia: Moscow district court fines WhatsApp, Snapchat over breaching data law

A day after the United States federal reserve raised interest rates for the second consecutive time, worrying government data shows that the US economy contracted for a second quarter between April and June.

US GDP declines at an annual rate of 0.9%

Global stocks rose on Friday, on course for their best month since late 2020, as euro zone growth beat expectations, while the dollar dipped as traders await fresh U.S. data for clues to the outlook for rates.

As inflation surges across major markets and central bankers fight to raise rates without killing off growth, riskier markets like stocks have tended to react positively to any perceived softening in sentiment on the part of policymakers.

After Thursday data showed the U.S. economy contracted in the second quarter, stocks rose as traders bet rates would rise more slowly. Euro zone numbers on Friday, meanwhile, beat expectations, yet recession fears are mounting as energy inflation continues to bite in the face of conflict in Ukraine.

The MSCI World index was last up 0.3%, on course for a near-6% monthly gain, its best since November 2020, buoyed by broad gains across European markets, with the STOXX Europe 600 up 0.9%.

U.S. stocks look set to gain at the open, with futures for the S&amp;P 500 and Nasdaq up 0.8% and 1.1%, respectively, with all eyes on fresh wages and consumer price data for clues to the health of the economy.

Despite the positive end to the month for stocks, Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, said investors should proceed with caution.

"In the near term, we think the risk-reward for broad equity indexes will be muted. Equities are pricing in a 'soft landing', yet the risk of a deeper 'slump' in economic activity is elevated."

Some of that concern had been evident in Asian stock markets overnight, after Beijing omitted reference to its full-year GDP growth target following a high-level Communist Party meeting.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%.

News in the prior session that U.S. gross domestic product had shrunk 0.9% last quarter, to add to a 1.6% contraction in the quarter before that, weighed on the country's bond yields and the greenback, but both staged a partial recovery on Friday.

The yield on benchmark 10-year Treasury notes recovered slightly from its overnight lows to trade at 2.7029% while the two-year note's yield, which typically moves in step with interest-rate expectations, was at 2.8703%.

After earlier flirting with positive territory, the dollar was last down 0.4% against a basket of its major peers - yet still on course for a second month of gains.

Futures markets now predict that U.S. interest rates will peak by December this year compared to June 2023 and the Federal Reserve will cut interest rates by nearly 50 bps next year to support slowing growth. [0#FF:]

Against the weakening U.S. backdrop, second-quarter GDP data from the euro zone beat expectations, up 0.7%, although growth in the region's biggest economy, Germany, lagged.

In response, Germany's 10-year bond yield - the benchmark for the euro zone - was last up at 0.89%.

Across commodities, Brent crude futures and U.S. West Texas Intermediate crude extended early gains and were last up around 2.3% as concerns about supply shortages ahead of the next meeting of OPEC ministers offset doubts around the economic outlook.

Gold gave back some of its early gains to trade up 0.4% to $1,759 an ounce, helped by the weaker dollar. 
&nbsp;

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Global stocks rose on Friday, on course for their best month since late 2020, as euro zone growth beat expectations, while the dollar dipped as traders await fresh U.

Global stocks rose on Friday, on course for their best month since late 2020, as euro zone growth beat expectations, while the dollar dipped as traders await fresh U.S. data for clues to the outlook for rates. As inflation surges across major markets and central bankers fight to raise rates without killing off growth, riskier markets like stocks have tended to react positively to any perceived softening in sentiment on the part of policymakers. After Thursday data showed the U.S. economy contracted in the second quarter, stocks rose as traders bet rates would rise more slowly. Euro zone numbers on Friday, meanwhile, beat expectations, yet recession fears are mounting as energy inflation continues to bite in the face of conflict in Ukraine. The MSCI World index was last up 0.3%, on course for a near-6% monthly gain, its best since November 2020, buoyed by broad gains across European markets, with the STOXX Europe 600 up 0.9%. U.S. stocks look set to gain at the open, with futures for the S&P 500 and Nasdaq up 0.8% and 1.1%, respectively, with all eyes on fresh wages and consumer price data for clues to the health of the economy. Despite the positive end to the month for stocks, Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, said investors should proceed with caution. "In the near term, we think the risk-reward for broad equity indexes will be muted. Equities are pricing in a 'soft landing', yet the risk of a deeper 'slump' in economic activity is elevated." Some of that concern had been evident in Asian stock markets overnight, after Beijing omitted reference to its full-year GDP growth target following a high-level Communist Party meeting. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%. News in the prior session that U.S. gross domestic product had shrunk 0.9% last quarter, to add to a 1.6% contraction in the quarter before that, weighed on the country's bond yields and the greenback, but both staged a partial recovery on Friday. The yield on benchmark 10-year Treasury notes recovered slightly from its overnight lows to trade at 2.7029% while the two-year note's yield, which typically moves in step with interest-rate expectations, was at 2.8703%. After earlier flirting with positive territory, the dollar was last down 0.4% against a basket of its major peers - yet still on course for a second month of gains. Futures markets now predict that U.S. interest rates will peak by December this year compared to June 2023 and the Federal Reserve will cut interest rates by nearly 50 bps next year to support slowing growth. [0#FF:] Against the weakening U.S. backdrop, second-quarter GDP data from the euro zone beat expectations, up 0.7%, although growth in the region's biggest economy, Germany, lagged. In response, Germany's 10-year bond yield - the benchmark for the euro zone - was last up at 0.89%. Across commodities, Brent crude futures and U.S. West Texas Intermediate crude extended early gains and were last up around 2.3% as concerns about supply shortages ahead of the next meeting of OPEC ministers offset doubts around the economic outlook. Gold gave back some of its early gains to trade up 0.4% to $1,759 an ounce, helped by the weaker dollar.

World stocks eye best month since late 2020, dollar dips

Online retailers made a fortune during the covid-19 pandemic but the market has failed to deliver successive quarters of high growth since then. Now the online retailer Amazon has reported its second quarterly loss in a row.

Amazon posts second quarterly loss; Growth slows for Amazon.com

The United States Federal Reserve has once again hiked the interest rate by 0.75%, this as the country's inflation level has touched 40-year high. This is the second in a row and fourth time this year, that the Fed has raised interest rates.

US Federal reserve hikes interest rates by 0.75%

JetBlue Airways announced that it has sealed the deal to buy Spirit Airlines for $3.8 billion. This acquisition would make it the fifth-biggest carrier in the United States. &nbsp;

In a statement, JetBlue said it would pay $33.50 per share in cash for Spirit. This would include a prepayment of $2.50 per share in cash payable after Spirit stockholders approve the transaction and a ticking fee of 10 cents per share per month starting in January until the deal is closed.

CEO of Jetblue Airline Robin Hayes said that Spirit and JetBlue would continue to advance the shared goal of bringing down fares from the big four airlines of the American sky.

The four airlines that dominate the sky are United Airlines, American Airlines, Southwest Airlines and Delta Air Lines. &nbsp;

The agreement comes after Spirit Airlines ended the merger agreement with Frontier Airlines announced in February this year. It marks the end of a months-long competition between Jetblue and Frontier Airlines for Spirit. &nbsp;

JetBlue has increased its offer to buy Spirit over recent months, creating a bidding war against Frontier. JetBlue had earlier offered to buy Spirit in spring for $3.6 billion. However, Spirit rejected the bid and agreed to a $2.9 billion merger with Frontier in February.&nbsp;

Spirit's board declined Jetblue, reasoning that JetBlue's offer involved "an unacceptable level of closing risk."&nbsp;

JetBlue then allegedly tried to carry out a hostile takeover attempt for Spirit. Plans to launch a tender offer for Spirit shareholders' shares were designed to pressure the airline's management to re-engage in merger negotiations. &nbsp;

However, things will not end here as Jetblue still needs the approval of antitrust regulators. In addition, the Justice Department has been concerned that airline competition is declining due to mergers. &nbsp;

As a result, the Justice Department is suing Jetblue and American Airlines. The trial is scheduled to begin this fall.&nbsp;

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JetBlue Airways announced that it has sealed the deal to buy Spirit Airlines for $3.8 billion. This acquisition would make it the fifth-biggest carrier in the United States.

JetBlue Airways announced that it has sealed the deal to buy Spirit Airlines for $3.8 billion. This acquisition would make it the fifth-biggest carrier in the United States. In a statement, JetBlue said it would pay $33.50 per share in cash for Spirit. This would include a prepayment of $2.50 per share in cash payable after Spirit stockholders approve the transaction and a ticking fee of 10 cents per share per month starting in January until the deal is closed. CEO of Jetblue Airline Robin Hayes said that Spirit and JetBlue would continue to advance the shared goal of bringing down fares from the big four airlines of the American sky. The four airlines that dominate the sky are United Airlines, American Airlines, Southwest Airlines and Delta Air Lines. The agreement comes after Spirit Airlines ended the merger agreement with Frontier Airlines announced in February this year. It marks the end of a months-long competition between Jetblue and Frontier Airlines for Spirit. JetBlue has increased its offer to buy Spirit over recent months, creating a bidding war against Frontier. JetBlue had earlier offered to buy Spirit in spring for $3.6 billion. However, Spirit rejected the bid and agreed to a $2.9 billion merger with Frontier in February. Spirit's board declined Jetblue, reasoning that JetBlue's offer involved "an unacceptable level of closing risk." JetBlue then allegedly tried to carry out a hostile takeover attempt for Spirit. Plans to launch a tender offer for Spirit shareholders' shares were designed to pressure the airline's management to re-engage in merger negotiations. However, things will not end here as Jetblue still needs the approval of antitrust regulators. In addition, the Justice Department has been concerned that airline competition is declining due to mergers. As a result, the Justice Department is suing Jetblue and American Airlines. The trial is scheduled to begin this fall. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US airline JetBlue agrees to buy Spirit Airlines for $3.8 billion

US recession fears are playing on the minds of all sectors of the world economy, India's shining IT sector is no exception. though it has handled Covid pandemic well, the industry still has multiple challenges ahead.

US recession fears don't look grave: Tech Mahindra

Samsung electronics has seen demand weakening for the Mobile and PC chips. However, its operating profit rises to $10.8 billion for June quarter.

Mobile and PC chip demand: Samsung electronics sees demand weakening

JLR is driving Tata Motors into high losses. Tata Motors said that losses are bigger than expected. However, Sales will pick up as the chip shortage eases.

JLR drives Tata Motors into high losses; Sales to pick up as chip shortage eases

Lufthansa airline has been forced to cancel 1,000 flights affecting travel plans of over 134,000 passengers. The airline's workers have gone on strike demanding a pay hike.

Europe travel chaos: 1,000 flights cancelled as Lufthansa workers go on a strike

Amid the ongoing global recession worries, the US Fed has hiked rates by 75 bps. Fed has also hinted at further rate hikes in the future.

US Fed hikes interest rates for the fourth time this year

Global recession fears have started impacting demand in the tech market as well. Qualcomm is now bracing for a difficult economy and a slowdown in smartphone demand that could hurt its mainstay handset chip business.

Tech firms brace for a difficult economy; Samsung electronics sees demand weakening

Wall Street rallies after the US Fed hikes rates by 75 bps

The United States Senate has passed a bipartisan bill to boost chip output amid a global shortage. Legislation is aimed to help the US compete with China.

US Senate passes bill to boost chip output; Legislation aimed to help the US compete with China

On Wednesday, Tata Consultancy Services (TCS) announced a multi-year, multi-million dollar deal with Marks &amp; Spencer (M&amp;S), with which it has been working for over a decade, intending to transform the British retailer's human resource operations.&nbsp;

TCS expects the USD 1 billion retail sector business in the UK and Europe to outpace the company's overall revenue growth due to strong demand for IT services.

The company's business head of retail in Europe, Abhijit Niyogi, told PTI that the demand for IT services remains strong in Europe and the UK despite macro headwinds like inflation, rate tightening, and political turmoil in the UK along with the ongoing war between Russia and Ukraine.

Stating that the business headed by him has a topline contribution of over USD 1 billion a year, Niyogi said it has been clocking a revenue growth faster than the one reported by the company on an overall basis for the last two-three quarters.

Around 10-15 % of the company's total contract value (TCV) comes from the business. Currently, it is chasing mid to large-size deals with a revenue possibility of around USD 300 million, as demand from retailers continues in the market.

Niyogi also added that he didn't expect any slowdown, specifically at the back of a solid Q1. He said that the conversion ratio is also quite good, and the demand is at an all-time high.

In the first quarter of the current fiscal year, TCS reported a 10.2 % revenue growth to USD 6.7 billion. The retail sector led the way with over 25 % revenue growth on a constant-currency basis. He said the retailers want their software vendors to be partners in good times and testing times and added that clients are not so sceptical because of the macros.

The profit margins are generally broader in growth and transformation deals like the one signed with M&amp;S because clients want to invest in futuristic services relevant to their customers and the brand's importance.

About 70 % of the work on the M&amp;S deal will be offshored to India. At the same time, the rest, 30 %, will take place locally in the US, Niyogi said, adding that the existing staff with the domain expertise to understand regulatory processes governing the retail sector in the UK will be deployed on this project.

While TCS has worked on HR solutions in the past, the work for M&amp;S, which has over 80,000 employees, is new because it is being carried out on the Oracle supply chain management platform.

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On Wednesday, Tata Consultancy Services (TCS) announced a multi-year, multi-million dollar deal with Marks & Spencer (M&S), with which it has been working for over a decade, intending to transform the British retailer's human resource operations.

On Wednesday, Tata Consultancy Services (TCS) announced a multi-year, multi-million dollar deal with Marks & Spencer (M&S), with which it has been working for over a decade, intending to transform the British retailer's human resource operations. TCS expects the USD 1 billion retail sector business in the UK and Europe to outpace the company's overall revenue growth due to strong demand for IT services. The company's business head of retail in Europe, Abhijit Niyogi, told PTI that the demand for IT services remains strong in Europe and the UK despite macro headwinds like inflation, rate tightening, and political turmoil in the UK along with the ongoing war between Russia and Ukraine. Stating that the business headed by him has a topline contribution of over USD 1 billion a year, Niyogi said it has been clocking a revenue growth faster than the one reported by the company on an overall basis for the last two-three quarters. Around 10-15 % of the company's total contract value (TCV) comes from the business. Currently, it is chasing mid to large-size deals with a revenue possibility of around USD 300 million, as demand from retailers continues in the market. Niyogi also added that he didn't expect any slowdown, specifically at the back of a solid Q1. He said that the conversion ratio is also quite good, and the demand is at an all-time high. In the first quarter of the current fiscal year, TCS reported a 10.2 % revenue growth to USD 6.7 billion. The retail sector led the way with over 25 % revenue growth on a constant-currency basis. He said the retailers want their software vendors to be partners in good times and testing times and added that clients are not so sceptical because of the macros. The profit margins are generally broader in growth and transformation deals like the one signed with M&S because clients want to invest in futuristic services relevant to their customers and the brand's importance. About 70 % of the work on the M&S deal will be offshored to India. At the same time, the rest, 30 %, will take place locally in the US, Niyogi said, adding that the existing staff with the domain expertise to understand regulatory processes governing the retail sector in the UK will be deployed on this project. While TCS has worked on HR solutions in the past, the work for M&S, which has over 80,000 employees, is new because it is being carried out on the Oracle supply chain management platform. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

TCS signs deal with Marks & Spencer to transform latter's HR operations

The International Monetary Fund (IMF) has said that the world economy is "teetering" on the edge of a global recession. The remarks come as the world’s three largest economies —the United States, China and Europe— are witnessing a slowdown and spiralling inflation.

In an update of the World Economic Outlook, the IMF. said that economic prospects had darkened significantly in recent months as a result of the war in Ukraine, inflation and a resurgent pandemic.

The agency warned that if these threats continue to intensify, the global economy could face one of its weakest years since 1970s, when a period of intense stagflation gripped the globe.

“The world may soon be teetering on the edge of a global recession, only two years after the last one,” Pierre-Olivier Gourinchas, the I.M.F.’s chief economist,&nbsp;wrote in a blog post.

&nbsp;Put simply, the outlook for the global economy is “increasingly gloomy,” he said.

The Washington-based institution said that problems in China, EU and the US had triggered fall of global output in the second quarter of this year— the first contraction since the start of the Covid pandemic.

“Higher than expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions. China’s slowdown has been worse than anticipated amid COVID-19 outbreaks and lockdowns, and there have been further negative spillovers from the war in Ukraine,” he said.

By the fourth quarter of 2022, the IMF said that was forecasting global inflation of 8.3 per cent, up from its April estimate of 6.9 per cent.

The World Bank, too, had made a similar prediction in June for the global economy, saying that the Ukraine war and the COVID-19 pandemic have continued to hinder global economic growth.

Also read |&nbsp;<a href="https://www.wionews.com/world/sp-predicts-one-third-decline-in-chinas-real-estate-sales-as-situation-worsens-501041" hreflang="en">S&amp;P&nbsp;predicts&nbsp;one-third decline in China's real estate sales as situation worsens</a>

"Things have gotten, unfortunately, much worse than what we expected," World Bank Prospects Group Director Ayhan Kose&nbsp;said in June.

"We were expecting a slowdown. That slowdown is much more pronounced now. Growth is going to go down to 2.9 per cent, at the global level. Last year it was 5.7 per cent."

Also read |&nbsp;<a href="https://www.wionews.com/technology/microsofts-earnings-suffer-as-computer-sales-decline-500998" hreflang="en">Microsoft’s earnings suffer as computer sales decline</a>

The IMF said that the recession in Russia this year was still significant and that its economic output could deteriorate further next year as the impact of the sanctions are intensified.

(With inputs from agencies)

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The International Monetary Fund (IMF) has said that the world economy is "teetering" on the edge of a global recession. The remarks come as the world’s three largest economies —the United States, China and Europe— are witnessing a slowdown and spiralling inflation.

The International Monetary Fund (IMF) has said that the world economy is "teetering" on the edge of a global recession. The remarks come as the world’s three largest economies —the United States, China and Europe— are witnessing a slowdown and spiralling inflation. In an update of the World Economic Outlook, the IMF. said that economic prospects had darkened significantly in recent months as a result of the war in Ukraine, inflation and a resurgent pandemic. The agency warned that if these threats continue to intensify, the global economy could face one of its weakest years since 1970s, when a period of intense stagflation gripped the globe. “The world may soon be teetering on the edge of a global recession, only two years after the last one,” Pierre-Olivier Gourinchas, the I.M.F.’s chief economist, wrote in a blog post. Put simply, the outlook for the global economy is “increasingly gloomy,” he said. The Washington-based institution said that problems in China, EU and the US had triggered fall of global output in the second quarter of this year— the first contraction since the start of the Covid pandemic. “Higher than expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions. China’s slowdown has been worse than anticipated amid COVID-19 outbreaks and lockdowns, and there have been further negative spillovers from the war in Ukraine,” he said. By the fourth quarter of 2022, the IMF said that was forecasting global inflation of 8.3 per cent, up from its April estimate of 6.9 per cent. The World Bank, too, had made a similar prediction in June for the global economy, saying that the Ukraine war and the COVID-19 pandemic have continued to hinder global economic growth. Also read | S&P predicts one-third decline in China's real estate sales as situation worsens "Things have gotten, unfortunately, much worse than what we expected," World Bank Prospects Group Director Ayhan Kose said in June. "We were expecting a slowdown. That slowdown is much more pronounced now. Growth is going to go down to 2.9 per cent, at the global level. Last year it was 5.7 per cent." Also read | Microsoft’s earnings suffer as computer sales decline The IMF said that the recession in Russia this year was still significant and that its economic output could deteriorate further next year as the impact of the sanctions are intensified. (With inputs from agencies) WATCH WION LIVE HERE

‘Global economy teetering on edge of recession’: IMF paints a gloomy picture

Germany will reduce financial incentives to buy electric cars next year after an agreement within the governing coalition, as the vehicles' growing popularity makes government subsidies unnecessary, Germany's economy ministry said on Tuesday.

Germany to reduce electric car subsidies in 2023

Recent survey says India has zero probability of slipping into recession. Unlike other economies, India has largely remained resilient to economic headwinds as compared to Europe and the US but it has its own share of challenges.

India has zero probability of slipping into recession: Survey

Inflation is not only hitting people's daily needs of food and fuel, it is now affecting entertainment service and their providers. In the latest, Amazon will increase subscription prices for its prime services.

Amazon prime video to raise monthly subscription price

London's Heathrow said that the decision to cap flight numbers after it struggled to cope with a rebound in travel had delivered a marked improvement in punctuality and baggage handling.

Heathrow: Passenger cap has improved operations

US consumer confidence dropped to nearly a 1.5-year low in July amid persistent worries about higher inflation and rising interest rates, which could undercut spending, pointing to slower economic growth at the start of the third quarter.

US consumer confidence nears 1.5-year low

Germany’s flagship carrier Lufthansa says it is cancelling more than 1,000 flights in advance of a walkout by its ground staff scheduled for Wednesday.

Lufthansa's massive flight cancellation due to ground staff walkout

The current economic outlook is worrisome. Two of the world's biggest economies the United States and China are struggling. Millions in America are living on the edge, they are struggling amid historically high inflation.

World Bank warns of recession and stagflation: American and Chinese economies on the edge?

India's defunct airline Jet Airways is finally back after a long hiatus and commercial operations are expected to start in September this year. The carrier stopped operations back in April 2019 due to severe financial crisis, but the situation is much better at the moment, and they are already looking for new recruits.

The company announced on Tuesday that they will be hiring new pilots for Airbus' A320 aircraft, Boeing's 737NG and 737Max planes and they are also expected to hire more back-room staff.

Also read |&nbsp;<a href="https://www.wionews.com/world/saudi-prince-signs-deal-on-data-cable-with-greece-on-his-first-europe-trip-since-killing-of-khashoggi-500985">Saudi prince meets Greek PM, signs deal for 'cheaper energy'</a>

“Good things come to those that wait - Jet Airways will be flying again soon! Inviting pilots who are current and type-rated on the Airbus A320 or Boeing 737NG or MAX aircraft, to apply to join us in creating history as we prepare to relaunch India's classiest airline,” the airline tweeted.

While the hiring process has started, Jet Airways currently has only one operational aircraft in its fleet - B737NG. According to Hindustan Times, they have also not placed any order with either Airbus or Boeing for bolstering their fleet ahead of the resumption of operations in September.

Also read |&nbsp;<a href="https://www.wionews.com/world/rishi-sunak-liz-truss-debate-abandoned-after-tv-presenter-faints-on-air-500992" hreflang="en">Rishi Sunak-Liz Truss debate abandoned after TV presenter faints on air</a>

However, the company received an air operator certificate from Directorate General of Civil Aviation (DGCA) on May 20 and it is expected that they will adding a number of aircrafts in the near future.

Earlier, Jet Airways stopped their operations in 2019 after a consortium of lenders led by the State Bank of India (SBI) claimed that they were due around 8,000 crore in outstanding payments. The situation was finally resolved in October 2020.

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India's defunct airline Jet Airways is finally back after a long hiatus and commercial operations are expected to start in September this year. The carrier stopped operations back in April 2019 due to severe financial crisis, but the situation is much better at the moment, and they are already looking for new recruits.

India's defunct airline Jet Airways is finally back after a long hiatus and commercial operations are expected to start in September this year. The carrier stopped operations back in April 2019 due to severe financial crisis, but the situation is much better at the moment, and they are already looking for new recruits. The company announced on Tuesday that they will be hiring new pilots for Airbus' A320 aircraft, Boeing's 737NG and 737Max planes and they are also expected to hire more back-room staff. Also read | Saudi prince meets Greek PM, signs deal for 'cheaper energy' “Good things come to those that wait - Jet Airways will be flying again soon! Inviting pilots who are current and type-rated on the Airbus A320 or Boeing 737NG or MAX aircraft, to apply to join us in creating history as we prepare to relaunch India's classiest airline,” the airline tweeted. While the hiring process has started, Jet Airways currently has only one operational aircraft in its fleet - B737NG. According to Hindustan Times, they have also not placed any order with either Airbus or Boeing for bolstering their fleet ahead of the resumption of operations in September. Also read | Rishi Sunak-Liz Truss debate abandoned after TV presenter faints on air However, the company received an air operator certificate from Directorate General of Civil Aviation (DGCA) on May 20 and it is expected that they will adding a number of aircrafts in the near future. Earlier, Jet Airways stopped their operations in 2019 after a consortium of lenders led by the State Bank of India (SBI) claimed that they were due around 8,000 crore in outstanding payments. The situation was finally resolved in October 2020. WATCH WION LIVE HERE -

India's Jet Airways starts recruitment of pilots, to begin commercial ops from Sep

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