New civil aviation minister said on Friday he is confident that problems at grounded Jet Airways Ltd will be solved, in the government's first comments on the debt-laden carrier since it was reelected last month.

"(We are) very confident we can solve the problems at the now defunct carrier," Hardeep Singh Puri said on the sidelines of a conference in New Delhi, in comments widely interpreted as referring to Jet.

Massive debt and suffocating price competition forced what was once India's biggest private-sector airline to halt operations in April at the cost of thousands of jobs, and resulting in higher airfares across the industry.

The airline and its lenders have been searching for new investors, while employee unions have been calling for government intervention. The government, however, has largely been quiet on the issue since its election victory.

Puri has assumed office at a time of distress in areas of Indian aviation. Last year, the government unsuccessfully sought a buyer for money-losing state-owned carrier Air India Ltd.

"We have made mistakes in civil aviation in the past which we need to correct," Puri said.

Jet's share price was 9% lower in early afternoon trade. The stock sunk in the last two trading sessions after India's largest stock exchange limited speculative trading in the firm.

New civil aviation minister said on Friday he is confident that problems at grounded Jet Airways Ltd will be solved, in the government's first comments on the debt-laden carrier since it was reelected last month.

New civil aviation minister said on Friday he is confident that problems at grounded Jet Airways Ltd will be solved, in the government's first comments on the debt-laden carrier since it was reelected last month. "(We are) very confident we can solve the problems at the now defunct carrier," Hardeep Singh Puri said on the sidelines of a conference in New Delhi, in comments widely interpreted as referring to Jet. Massive debt and suffocating price competition forced what was once India's biggest private-sector airline to halt operations in April at the cost of thousands of jobs, and resulting in higher airfares across the industry. The airline and its lenders have been searching for new investors, while employee unions have been calling for government intervention. The government, however, has largely been quiet on the issue since its election victory. Puri has assumed office at a time of distress in areas of Indian aviation. Last year, the government unsuccessfully sought a buyer for money-losing state-owned carrier Air India Ltd. "We have made mistakes in civil aviation in the past which we need to correct," Puri said. Jet's share price was 9% lower in early afternoon trade. The stock sunk in the last two trading sessions after India's largest stock exchange limited speculative trading in the firm.

Civil aviation minister says confident Jet Airways' problems will be solved

The National Stock Exchange of India (NSE) said on Wednesday contracts of <a href="https://www.wionews.com/business-economy/spicejet-examines-taking-over-widebody-jets-previously-operated-by-jet-airways-223354">Jet Airways</a> Ltd would be pulled out of trading in the Futures and Options segment, citing the embattled carrier's failure to respond to queries about rumours in the market.

Shares of Jet, once the biggest private airline in India, have more than halved since the airline shut down its operations in April after its lenders refused to bail it out.

Jet's securities will now be moved to the trade for trade segment with effect from June 28 as a "preventive surveillance measure", from the current rolling segment which allows daily trading, the stock exchange said in a circular.

"There are concerns with regard to continuity of flow of information about the company which is very vital for the appropriate price discovery in the scrip," NSE said, adding that trading may not reflect the actual status of the company.

NSE also cited the company's failure to submit its financial results for the year ended March 31 as well as observations made by the airline's auditor as reasons for the move.

The National Stock Exchange of India (NSE) said on Wednesday contracts of Jet Airways Ltd would be pulled out of trading in the Futures and Options segment, citing the embattled carrier's failure to respond to queries about rumours in the market.

The National Stock Exchange of India (NSE) said on Wednesday contracts of Jet Airways Ltd would be pulled out of trading in the Futures and Options segment, citing the embattled carrier's failure to respond to queries about rumours in the market. Shares of Jet, once the biggest private airline in India, have more than halved since the airline shut down its operations in April after its lenders refused to bail it out. Jet's securities will now be moved to the trade for trade segment with effect from June 28 as a "preventive surveillance measure", from the current rolling segment which allows daily trading, the stock exchange said in a circular. "There are concerns with regard to continuity of flow of information about the company which is very vital for the appropriate price discovery in the scrip," NSE said, adding that trading may not reflect the actual status of the company. NSE also cited the company's failure to submit its financial results for the year ended March 31 as well as observations made by the airline's auditor as reasons for the move.

Jet Airways to be removed from trading in NSE's futures and options market

Shares of debt-laden Jet Airways slipped to a record low on Tuesday after Mint reported that Hinduja Group and Etihad Airways PJSC may not proceed with plans to resurrect Jet Airways, dealing a severe blow to efforts aimed at rescuing the airline that has suspended flights for nearly two months.

WION Wallet: Jet Airways crisis: Hinduja, Hinduja halt rescue efforts

India's&nbsp;budget airline SpiceJet Ltd is examining the prospect of taking over widebody <a href="https://www.wionews.com/business-economy/indigo-forecasts-strong-year-as-jet-airways-collapse-boosts-profit-222065">jets </a>previously operated by Jet Airways Ltd, but initial studies show they need significant maintenance work, its chairman said on Saturday.

<a href="https://www.wionews.com/business-economy/spicejet-posts-22-jump-in-fourth-quarter-profit-sees-strong-year-ahead-222300">SpiceJet</a>, which operates narrowbody and turboprop planes, does not have firm plans to become a widebody operator with longer-range flights in the wake of Jet`s collapse in April, SpiceJet Chairman Ajay Singh said.

"Certainly a gap has been created and there seems to be an opportunity but it is also a business that we don`t know very much about. A higher risk business," he told Reuters on the sidelines of an airline industry conference in Seoul.&nbsp;

"We are exploring it. We'll see. If it looks like it is significantly profitable we can do it."

Leasing or buying widebody jets not previously operated by Jet are another possibility, he said.

SpiceJet took over the leases of 25 Boeing Co 737 jets previously operated by Jet in April and May.

The carrier plans to add another 35 planes throughout the financial year ending March 31, 2020, including some more ex-Jet aircraft on lease, some Q400 turboprops and "hopefully" 737 MAX jets after regulators approve the return to service of the grounded model, Singh said.

SpiceJet had a 13.1% share of India`s domestic market in April, according to government statistics, behind IndiGo's 49.9% and Air India`s 13.9%.

Singh said IndiGo's increasing dominance of the domestic market was becoming a cause for concern to the broader industry.

"I think the government will have to explore what possibilities exist" for remedies, he said. "We haven`t thought about it as yet. The government has just been elected and we are in the middle of a massive expansion ourselves." 
&nbsp;

India's budget airline SpiceJet Ltd is examining the prospect of taking over widebody jets previously operated by Jet Airways Ltd, but initial studies show they need significant maintenance work, its chairman said on Saturday.

India's budget airline SpiceJet Ltd is examining the prospect of taking over widebody jets previously operated by Jet Airways Ltd, but initial studies show they need significant maintenance work, its chairman said on Saturday. SpiceJet, which operates narrowbody and turboprop planes, does not have firm plans to become a widebody operator with longer-range flights in the wake of Jet`s collapse in April, SpiceJet Chairman Ajay Singh said. "Certainly a gap has been created and there seems to be an opportunity but it is also a business that we don`t know very much about. A higher risk business," he told Reuters on the sidelines of an airline industry conference in Seoul. "We are exploring it. We'll see. If it looks like it is significantly profitable we can do it." Leasing or buying widebody jets not previously operated by Jet are another possibility, he said. SpiceJet took over the leases of 25 Boeing Co 737 jets previously operated by Jet in April and May. The carrier plans to add another 35 planes throughout the financial year ending March 31, 2020, including some more ex-Jet aircraft on lease, some Q400 turboprops and "hopefully" 737 MAX jets after regulators approve the return to service of the grounded model, Singh said. SpiceJet had a 13.1% share of India`s domestic market in April, according to government statistics, behind IndiGo's 49.9% and Air India`s 13.9%. Singh said IndiGo's increasing dominance of the domestic market was becoming a cause for concern to the broader industry. "I think the government will have to explore what possibilities exist" for remedies, he said. "We haven`t thought about it as yet. The government has just been elected and we are in the middle of a massive expansion ourselves."

SpiceJet examines taking over widebody jets previously operated by Jet Airways

A report in Mint suggests that Jet Airways’ financial creditors may start proceedings against the airline under the Insolvency and Bankruptcy Code, 2016, in about a fortnight if they are unable to find an investor.

Dutch Court initiates Bankruptcy case against Jet Airways

InterGlobe Aviation Ltd, the operator of IndiGo, said its quarterly profit surged five-fold, beating analysts’ estimates, as yields rose and the airline carried more passengers amid the collapse of rival Jet Airways (India) Ltd following funding woes.

WION Wallet: IndiGo profit soars in Q4 with  Jet Airways grounded

Interglobe Aviation Ltd, owner of Indian budget airline IndiGo, forecast a strong year ahead after the collapse of Jet Airways&nbsp;helped the company report a fivefold jump in fourth-quarter profit.

IndiGo, the country's largest airline by market share, gained passengers in recent months after Jet Airways shut down operations in April, having been forced to ground its fleet since early this year.

IndiGo also gained by optimising its domestic network and growing its international routes, Chief Executive Ronojoy Dutta said on an analyst call.

"Jet Airways' cessation of service helped our performance in the last week of February and the whole of March," Dutta said.

Interglobe shares set a record closing high, up 2.5% at 1,662.15 rupees in a broader Mumbai market which ended up 0.7%.

Dutta said the shutdown at Jet increased revenue per available seat kilometre by between 3% and 4%. That number, a measure of the carrier's operating earnings, rose 5.9% in total to 3.63 rupees in January through March.

Jet's troubles have allowed IndiGo and other carriers such as SpiceJet to raise prices on some routes, offsetting some of the losses they faced last fiscal year because of high fuel prices and intense competition.

IndiGo's passenger yield, a measure of airfares, rose 12% during the quarter.

Higher fares

CEO Dutta said Jet's grounding helped IndiGo raise fares, but it will see the boost ease by June except in some international markets. "By and large international routes are doing well. We are happy with the utilisation and profitability," he said.

Available seat kilometres, a measure of the airline's passenger carrying capacity, is expected to rise 30% in the current fiscal year, with half of that in the domestic market and the other half in international, Dutta said.

The airline said that while it is studying the use of wide-body planes on international routes, it does not plan to place an order imminently. It will, however, take deliveries of 53 narrow-body Airbus planes and 11 ATR turboprops in the current fiscal year.

IndiGo has also seen significant improvements over the past year in the performance of engines made by Pratt &amp; Whitney (part of United Technologies), troubles with which had forced it to ground planes in the past, Wolfgang Prock-Schauer, the airline's president and chief operating officer, said on the call.

"For most of the issues resolutions have been found and implemented," Prock-Schauer said, adding the group is working with Pratt on two areas, one of which is expected to be fixed in engines to be delivered from June and the other by September.

Until then the airline has sufficient spare engines, he said.

InterGlobe's profit for the quarter rose to 5.9 billion rupees from 1.18 billion a year earlier.

Interglobe Aviation Ltd, owner of Indian budget airline IndiGo, forecast a strong year ahead after the collapse of Jet Airways helped the company report a fivefold jump in fourth-quarter profit.

Interglobe Aviation Ltd, owner of Indian budget airline IndiGo, forecast a strong year ahead after the collapse of Jet Airways helped the company report a fivefold jump in fourth-quarter profit. IndiGo, the country's largest airline by market share, gained passengers in recent months after Jet Airways shut down operations in April, having been forced to ground its fleet since early this year. IndiGo also gained by optimising its domestic network and growing its international routes, Chief Executive Ronojoy Dutta said on an analyst call. "Jet Airways' cessation of service helped our performance in the last week of February and the whole of March," Dutta said. Interglobe shares set a record closing high, up 2.5% at 1,662.15 rupees in a broader Mumbai market which ended up 0.7%. Dutta said the shutdown at Jet increased revenue per available seat kilometre by between 3% and 4%. That number, a measure of the carrier's operating earnings, rose 5.9% in total to 3.63 rupees in January through March. Jet's troubles have allowed IndiGo and other carriers such as SpiceJet to raise prices on some routes, offsetting some of the losses they faced last fiscal year because of high fuel prices and intense competition. IndiGo's passenger yield, a measure of airfares, rose 12% during the quarter. Higher fares CEO Dutta said Jet's grounding helped IndiGo raise fares, but it will see the boost ease by June except in some international markets. "By and large international routes are doing well. We are happy with the utilisation and profitability," he said. Available seat kilometres, a measure of the airline's passenger carrying capacity, is expected to rise 30% in the current fiscal year, with half of that in the domestic market and the other half in international, Dutta said. The airline said that while it is studying the use of wide-body planes on international routes, it does not plan to place an order imminently. It will, however, take deliveries of 53 narrow-body Airbus planes and 11 ATR turboprops in the current fiscal year. IndiGo has also seen significant improvements over the past year in the performance of engines made by Pratt & Whitney (part of United Technologies), troubles with which had forced it to ground planes in the past, Wolfgang Prock-Schauer, the airline's president and chief operating officer, said on the call. "For most of the issues resolutions have been found and implemented," Prock-Schauer said, adding the group is working with Pratt on two areas, one of which is expected to be fixed in engines to be delivered from June and the other by September. Until then the airline has sufficient spare engines, he said. InterGlobe's profit for the quarter rose to 5.9 billion rupees from 1.18 billion a year earlier.

IndiGo forecasts strong year as Jet Airways collapse boosts profit

Jet Airways founder Naresh Goyal was Saturday stopped from leaving the country due to a lookout circular issued by the Union Home Ministry, officials said Saturday.

The disclosure came after Naresh Goyal and his wife Anita Goyal were stopped by immigration authorities at Mumbai airport, minutes before their aircraft was about to take off for London via Dubai, the officials said.

"There is a lookout circular against Goyal to prevent <a href="https://www.wionews.com/business-economy/naresh-goyal-wife-denied-permission-to-travel-abroad-sources-221604">foreign travel</a>," a home ministry official said.

A lookout circular is issued against a person directing the immigration authorities to ensure that he or she does not leave India through an airport or seaport.

The Bureau of Immigration comes under the Union Home Ministry.

The couple was on board Emirates Airways flight EK 507.

An airport official said the aircraft was called back to the parking bay at the time of taxiing.

In April, Jet Airways officers and staff association president Kiran Pawaskar had written to the Mumbai police commissioner demanding that passports of Goyal and other directors of the airline be impounded as the staff had not been paid salaries for several months.

Naresh and Anita Goyal had resigned from the board of Jet Airways, which the former founded 26 years ago, in March following a debt restructuring plan. He had also resigned as the airline's chairman.&nbsp;

Jet Airways founder Naresh Goyal was Saturday stopped from leaving the country due to a lookout circular issued by the Union Home Ministry, officials said Saturday.

Jet Airways founder Naresh Goyal was Saturday stopped from leaving the country due to a lookout circular issued by the Union Home Ministry, officials said Saturday. The disclosure came after Naresh Goyal and his wife Anita Goyal were stopped by immigration authorities at Mumbai airport, minutes before their aircraft was about to take off for London via Dubai, the officials said. "There is a lookout circular against Goyal to prevent foreign travel," a home ministry official said. A lookout circular is issued against a person directing the immigration authorities to ensure that he or she does not leave India through an airport or seaport. The Bureau of Immigration comes under the Union Home Ministry. The couple was on board Emirates Airways flight EK 507. An airport official said the aircraft was called back to the parking bay at the time of taxiing. In April, Jet Airways officers and staff association president Kiran Pawaskar had written to the Mumbai police commissioner demanding that passports of Goyal and other directors of the airline be impounded as the staff had not been paid salaries for several months. Naresh and Anita Goyal had resigned from the board of Jet Airways, which the former founded 26 years ago, in March following a debt restructuring plan. He had also resigned as the airline's chairman.

Home Ministry's look out notice against Jet Airways' Goyal stops him from leaving India

Former chairman of Jet Airways Naresh Goyal and his wife Anita Goyal were denied permission to travel abroad Saturday by the immigration authority at Mumbai airport, sources said.

The couple was to travel by Dubai-bound Emirates flight EK 507 when the immigration authority denied them permission to fly, they said.

The checked in baggage, which was in the name of Anita Goyal, was also offloaded from the flight. The flight was scheduled to depart at 3.35 pm.

Naresh Goyal could not be reached for comments. Response to a query sent to Emirates was also awaited.

Last month, Jet Airways officers and staff association president Kiran Pawaskar had written to the Mumbai police commissioner that the passports of Goyal and other directors and senior members of the Jet Airways management be impounded as the airline had not paid salaries to its employees for several months.

Naresh Goyal, along with Anita Goyal, had resigned from the board of Jet Airways, which he founded 26 years ago, in March following a debt restructuring plan. He had also resigned as the airline chairman.&nbsp;

Former chairman of Jet Airways Naresh Goyal and his wife Anita Goyal were denied permission to travel abroad Saturday by the immigration authority at Mumbai airport, sources said.

Former chairman of Jet Airways Naresh Goyal and his wife Anita Goyal were denied permission to travel abroad Saturday by the immigration authority at Mumbai airport, sources said. The couple was to travel by Dubai-bound Emirates flight EK 507 when the immigration authority denied them permission to fly, they said. The checked in baggage, which was in the name of Anita Goyal, was also offloaded from the flight. The flight was scheduled to depart at 3.35 pm. Naresh Goyal could not be reached for comments. Response to a query sent to Emirates was also awaited. Last month, Jet Airways officers and staff association president Kiran Pawaskar had written to the Mumbai police commissioner that the passports of Goyal and other directors and senior members of the Jet Airways management be impounded as the airline had not paid salaries to its employees for several months. Naresh Goyal, along with Anita Goyal, had resigned from the board of Jet Airways, which he founded 26 years ago, in March following a debt restructuring plan. He had also resigned as the airline chairman.

Naresh Goyal, wife denied permission to travel abroad: Sources

The Hinduja Group said on Tuesday it is evaluating a possible bid for <a href="https://www.wionews.com/business-economy/after-cfo-jet-airways-ceo-vinay-dube-resigns-218733">debt-laden Jet Airways Ltd</a>, sending shares of the grounded carrier as high as 14 per cent&nbsp;in afternoon trading.

The company was responding to a Reuters request for comment after a leading newspaper said the group would start the process of bidding this week.

Hinduja Group is in talks with Jet founder Naresh Goyal and investor Etihad, besides talking to investment bankers led by SBI Capital Markets for due diligence, the report said, citing sources.

SBI Capital Markets declined to comment, while Etihad did not respond to a Reuters query.

Jet Airways, once the biggest private carrier in the country, owes vast sums to its lessors, employees, fuel suppliers and other parties. It stopped all flights from April 17 after its lenders refused to give it any more funds to keep the carrier flying.

The Indian carrier, which is also saddled with roughly $1.2 billion in bank debt, was crippled by mounting losses as it attempted to compete with low-cost rivals Interglobe-owned IndiGo, SpiceJet Ltd and Wadia Group-owned GoAir.

For months, Jet has tried to convince investors, including Etihad, to pump in money and save the airline. However, suitors had some qualms, while a deadline for any interested parties to submit binding bids for the carrier ended on May 10.

State Bank of India (SBI), Jet's lead lender and the bank overseeing the sale process, earlier said it had only received three conditional offers, including one from Etihad.

Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier had said, adding that it cannot be the sole investor.

The airline has been rapidly shedding aircraft in recent weeks, as lessors have rushed to deregister and repossess planes in the wake of the turmoil.

It has also seen the exit of its chief executive and several other senior officials, lost hundreds of pilots, cabin crew and engineers to rivals and seen its valuable slots reallocated to rivals, making the rescue of the debt-laden carrier much tougher for a new investor.

Jet's shares were trading 14% higher at 149.70 rupees at 0925 GMT in an otherwise weak Mumbai market.

The Hinduja Group said on Tuesday it is evaluating a possible bid for debt-laden Jet Airways Ltd, sending shares of the grounded carrier as high as 14 per cent in afternoon trading.

The Hinduja Group said on Tuesday it is evaluating a possible bid for debt-laden Jet Airways Ltd, sending shares of the grounded carrier as high as 14 per cent in afternoon trading. The company was responding to a Reuters request for comment after a leading newspaper said the group would start the process of bidding this week. Hinduja Group is in talks with Jet founder Naresh Goyal and investor Etihad, besides talking to investment bankers led by SBI Capital Markets for due diligence, the report said, citing sources. SBI Capital Markets declined to comment, while Etihad did not respond to a Reuters query. Jet Airways, once the biggest private carrier in the country, owes vast sums to its lessors, employees, fuel suppliers and other parties. It stopped all flights from April 17 after its lenders refused to give it any more funds to keep the carrier flying. The Indian carrier, which is also saddled with roughly $1.2 billion in bank debt, was crippled by mounting losses as it attempted to compete with low-cost rivals Interglobe-owned IndiGo, SpiceJet Ltd and Wadia Group-owned GoAir. For months, Jet has tried to convince investors, including Etihad, to pump in money and save the airline. However, suitors had some qualms, while a deadline for any interested parties to submit binding bids for the carrier ended on May 10. State Bank of India (SBI), Jet's lead lender and the bank overseeing the sale process, earlier said it had only received three conditional offers, including one from Etihad. Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier had said, adding that it cannot be the sole investor. The airline has been rapidly shedding aircraft in recent weeks, as lessors have rushed to deregister and repossess planes in the wake of the turmoil. It has also seen the exit of its chief executive and several other senior officials, lost hundreds of pilots, cabin crew and engineers to rivals and seen its valuable slots reallocated to rivals, making the rescue of the debt-laden carrier much tougher for a new investor. Jet's shares were trading 14% higher at 149.70 rupees at 0925 GMT in an otherwise weak Mumbai market.

Hinduja Group evaluating bid for Jet Airways, shares rise

According to reports Aviation Minister is to give decision soon on India's debt-ridden Jet Airways. Watch this video to know more.

WION Wallet: Aviation Minister to give decision soon on Jet Airways

<a href="https://www.wionews.com/business-economy/post-jet-crisis-indian-airfares-skyrocketing-210648">Jet Airways</a> Ltd's Deputy Chief Executive and Chief Financial Officer Amit Agarwal has resigned, the debt-ridden carrier said on Tuesday.

The airline did not mention a replacement for Agarwal, who had joined Jet in 2015 as its CFO.

Shares of <a href="https://www.wionews.com/videos/wion-wallet-will-jet-airways-find-a-buyer-217411">Jet Airways</a> Ltd fell as much as 11.4% on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier.

Jet, which owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders refused to extend more funds to keep the carrier flying.

SBI also received two unsolicited, non-binding bids, the bank said on Friday.

&nbsp;

Jet Airways Ltd's Deputy Chief Executive and Chief Financial Officer Amit Agarwal has resigned, the debt-ridden carrier said on Tuesday. The airline did not mention a replacement for Agarwal, who had joined Jet in 2015 as its CFO.

Jet Airways Ltd's Deputy Chief Executive and Chief Financial Officer Amit Agarwal has resigned, the debt-ridden carrier said on Tuesday. The airline did not mention a replacement for Agarwal, who had joined Jet in 2015 as its CFO. Shares of Jet Airways Ltd fell as much as 11.4% on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier. Jet, which owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders refused to extend more funds to keep the carrier flying. SBI also received two unsolicited, non-binding bids, the bank said on Friday.

Jet Airways CFO Amit Agarwal steps down

<a href="https://www.wionews.com/south-asia/police-imposes-night-curfew-in-sri-lanka-again-amid-violence-218754">Police imposes night curfew in Sri Lanka again amid violence</a>

Sri Lankan authorities on Tuesday imposed another night of curfew amid violence in the North-Western Province (NWP).

Police spokesman Ruwan Gunasekera said the night curfew will go into effect from 9:00 pm. Gunasekera added that NWP will be shutdown longer.

<a href="https://www.wionews.com/world/if-someone-attacks-us-on-our-doorstep-we-will-fight-to-the-finish-china-on-trade-war-with-us-218705">If someone attacks us on our doorstep, we will fight to the finish: China on trade war with US</a>

A day after China retaliated with imposing $60 billion tariffs on US goods, the foreign ministry said it will remain calm and level-headed in the face of flip-flops and maximum pressure from the US side.

<a href="https://www.wionews.com/business-economy/after-cfo-jet-airways-ceo-vinay-dube-resigns-218733">After CFO, Jet Airways CEO Vinay Dube resigns</a>

Jet Airways said on Tuesday that Chief Executive Officer Vinay Dube had resigned with immediate effect.

Earlier today, Jet Airways' Deputy Chief Executive and Chief Financial Officer Amit Agarwal had also resigned.

<a href="https://www.wionews.com/india-news/indian-army-to-move-air-defence-units-closer-to-pakistan-border-post-balakot-strikes-218676">Indian Army to move air defence units closer to Pakistan border post-Balakot strikes</a>

After a deep internal review of the recent conflict with Pakistan, the Indian Army is planning to deploy a number of its air defence units close to the border to thwart aerial threats emanating from Pakistan.

<a href="https://www.wionews.com/india-general-elections-2019/pm-modi-challenges-opposition-to-prove-if-he-amassed-assets-kept-money-in-foreign-bank-218697">Prove I have benami property, money in foreign bank: PM Modi challenges Opposition</a>

Prime Minister Narendra Modi on Tuesday threw an open challenge to the Opposition to prove if he had amassed any assets or kept money in any foreign bank.

Police imposes night curfew in Sri Lanka again amid violence Sri Lankan authorities on Tuesday imposed another night of curfew amid violence in the North-Western Province (NWP).

Police imposes night curfew in Sri Lanka again amid violence Sri Lankan authorities on Tuesday imposed another night of curfew amid violence in the North-Western Province (NWP). Police spokesman Ruwan Gunasekera said the night curfew will go into effect from 9:00 pm. Gunasekera added that NWP will be shutdown longer. If someone attacks us on our doorstep, we will fight to the finish: China on trade war with US A day after China retaliated with imposing $60 billion tariffs on US goods, the foreign ministry said it will remain calm and level-headed in the face of flip-flops and maximum pressure from the US side. After CFO, Jet Airways CEO Vinay Dube resigns Jet Airways said on Tuesday that Chief Executive Officer Vinay Dube had resigned with immediate effect. Earlier today, Jet Airways' Deputy Chief Executive and Chief Financial Officer Amit Agarwal had also resigned. Indian Army to move air defence units closer to Pakistan border post-Balakot strikes After a deep internal review of the recent conflict with Pakistan, the Indian Army is planning to deploy a number of its air defence units close to the border to thwart aerial threats emanating from Pakistan. Prove I have benami property, money in foreign bank: PM Modi challenges Opposition Prime Minister Narendra Modi on Tuesday threw an open challenge to the Opposition to prove if he had amassed any assets or kept money in any foreign bank.

News brief: Big stories of the day

Jet Airways said on Tuesday that Chief Executive Officer Vinay Dube had resigned with immediate effect.

Earlier today, Jet Airways' Deputy Chief Executive and <a href="https://www.wionews.com/business-economy/jet-airways-cfo-amit-agarwal-steps-down-218534">Chief Financial Officer Amit Agarwal had also resigned</a>.

<a href="https://www.wionews.com/business-economy/jet-airways-shares-continue-to-fall-plummet-over-7-218724">Shares of Jet Airways</a>&nbsp;on Tuesday plunged over 7 per cent, its second day of decline, after Amit Agarwal resigned.

Jet, which owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders refused to extend more funds to keep the carrier flying.

The State Bank of India (SBI) said last week&nbsp;it has received two unsolicited bids for ailing Jet Airways, nearly a month after the airline was forced to ground all operations due to funding troubles. Most of the airline's board members have also quit in last one month.&nbsp;

Jet Airways said on Tuesday that Chief Executive Officer Vinay Dube had resigned with immediate effect. Earlier today, Jet Airways' Deputy Chief Executive and Chief Financial Officer Amit Agarwal had also resigned.

Jet Airways said on Tuesday that Chief Executive Officer Vinay Dube had resigned with immediate effect. Earlier today, Jet Airways' Deputy Chief Executive and Chief Financial Officer Amit Agarwal had also resigned. Shares of Jet Airways on Tuesday plunged over 7 per cent, its second day of decline, after Amit Agarwal resigned. Jet, which owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders refused to extend more funds to keep the carrier flying. The State Bank of India (SBI) said last week it has received two unsolicited bids for ailing Jet Airways, nearly a month after the airline was forced to ground all operations due to funding troubles. Most of the airline's board members have also quit in last one month.

After CFO, Jet Airways CEO Vinay Dube resigns

Shares of Jet Airways Tuesday plunged over 7 per cent, its second day of decline, after the company's deputy chief executive officer and chief financial officer (CFO) Amit Agarwal resigned.

The scrip tanked 7.42 per cent to close at Rs 129.10 on the BSE. During the day, it plunged 12.44 per cent to Rs 122.10.

On the NSE, shares plummeted 7.33 per cent to close at Rs 128.90.

In terms of volume, 22.14 lakh shares were traded on the BSE during the day, while over one crore shares were traded on the NSE.

Shares of Jet Airways had plummeted over 8 per cent Monday amid continued uncertainty overbidders.

"We wish to inform that Amit Agarwal, the deputy chief executive officer and CFO of the company, has resigned from service due to personal reasons, with effect from May 13," Jet Airways said in a regulatory filing.

The airline seized operations temporarily around mid-April due to acute liquidity crisis.

Most of the airline's board members have also quit in last one month.&nbsp;

Shares of Jet Airways Tuesday plunged over 7 per cent, its second day of decline, after the company's deputy chief executive officer and chief financial officer (CFO) Amit Agarwal resigned.

Shares of Jet Airways Tuesday plunged over 7 per cent, its second day of decline, after the company's deputy chief executive officer and chief financial officer (CFO) Amit Agarwal resigned. The scrip tanked 7.42 per cent to close at Rs 129.10 on the BSE. During the day, it plunged 12.44 per cent to Rs 122.10. On the NSE, shares plummeted 7.33 per cent to close at Rs 128.90. In terms of volume, 22.14 lakh shares were traded on the BSE during the day, while over one crore shares were traded on the NSE. Shares of Jet Airways had plummeted over 8 per cent Monday amid continued uncertainty overbidders. "We wish to inform that Amit Agarwal, the deputy chief executive officer and CFO of the company, has resigned from service due to personal reasons, with effect from May 13," Jet Airways said in a regulatory filing. The airline seized operations temporarily around mid-April due to acute liquidity crisis. Most of the airline's board members have also quit in last one month.

Jet Airways shares continue to fall; plummet over 7%

Shares of Jet Airways Ltd fell as much as 11.4% on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier.

Etihad, which owns an about 24% stake in Jet, submitted a bid for the airline, the unit of <a href="https://www.wionews.com/business-economy/state-bank-of-india-gets-sealed-bid-for-jet-airways-from-etihad-217565">State Bank of India</a> (SBI) overseeing the sale of the stricken carrier said on Friday.

That had raised hopes of a bailout for cash-strapped Jet, which has about $1.2 billion in bank debt.

The Mint newspaper said on Monday that Etihad wanted a commitment from banks on additional loans once it infuses equity into the company. The Middle Eastern carrier had not been able to find a local partner and lenders may need to take about 80% haircut on their outstanding loans to Jet Airways, the newspaper said, citing banking sources.

Shares of the carrier, which have tumbled almost 70% over the past year, were down 5% at Rs 144.3, as of 0445 GMT.

Jet, which owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders refused to extend more funds to keep the carrier flying.

SBI also received two unsolicited, non-binding bids, the bank said on Friday.

Shares of Jet Airways Ltd fell as much as 11.4% on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier.

Shares of Jet Airways Ltd fell as much as 11.4% on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier. Etihad, which owns an about 24% stake in Jet, submitted a bid for the airline, the unit of State Bank of India (SBI) overseeing the sale of the stricken carrier said on Friday. That had raised hopes of a bailout for cash-strapped Jet, which has about $1.2 billion in bank debt. The Mint newspaper said on Monday that Etihad wanted a commitment from banks on additional loans once it infuses equity into the company. The Middle Eastern carrier had not been able to find a local partner and lenders may need to take about 80% haircut on their outstanding loans to Jet Airways, the newspaper said, citing banking sources. Shares of the carrier, which have tumbled almost 70% over the past year, were down 5% at Rs 144.3, as of 0445 GMT. Jet, which owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders refused to extend more funds to keep the carrier flying. SBI also received two unsolicited, non-binding bids, the bank said on Friday.

Jet Airways shares slumps 11.4% after reports of Etihad's non-binding offer

Today is the last day of bidding for the troubled carrier Jet Airways. Watch this video.

WION Wallet: Will Jet Airways find a buyer ?

Middle Eastern carrier <a href="https://www.wionews.com/business-economy/state-bank-of-india-says-two-bids-received-for-jet-airways-217486">Etihad Airways has submitted a bid for a stake in India's Jet Airways</a>, the unit of State Bank of India (SBI) overseeing the sale of the stricken airline said on Friday.

SBI had invited binding bids for a stake in the airline, which is saddled with roughly $1.2 billion in bank debt. Binding offers were due by 1800 IST on Friday.

Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier said earlier on Friday.

However, he added that Etihad "cannot be expected to be the sole investor" and "additional suitable investors would need to provide the majority of Jet Airways' required recapitalisation."

Etihad gave no indication whether it was working with any other investors that might take a majority stake in Jet.

Once India's largest private airline, Jet was crippled by mounting losses as it tried to compete with low-cost rivals IndiGo and SpiceJet Ltd.

Jet, which also owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders, led by SBI, refused to extend more funds to keep the carrier flying.

Etihad was among four investors that submitted initial bids for the airline last month. The others were private equity firms TPG Capital and Indigo Partners and Indian wealth fund National Investment and Infrastructure Fund (NIIF).

SBI has also received two unsolicited, non-binding bids for Jet, the bank's Chairman Rajnish Kumar told reporters, after a news conference on Friday, adding it had no plans at this time to drag the airline into a bankruptcy process

"(We've) made disproportionate efforts to keep Jet flying," Kumar said.

Jet for several months tried to convince investors, including Etihad, to pump in money and save the airline. But several potential investors had at least one condition - Jet's founder and former chairman Naresh Goyal must cede control.

When Jet failed to garner interest, the banks, led by SBI, moved in with a rescue plan which was first announced in February and put into action in March after Goyal stepped down.

"A few unsolicited offers have also been received which the lenders may deliberate upon subsequently," SBI Capital Markets said in a statement without giving further details.

Losses and loans

Analysts are sceptical the sale process will succeed.

"The process of bidding and winning isn't so easy," said HDFC Securities analyst Deepak Jasani. "Day by day, losses and loans are rising at Jet, the more the process is delayed the more the situation becomes irreparable," he said.

While the bid process was on, Jet was forced to vacate its offices at many airports across the country and employee access was revoked. Lessors also forced Jet to ground dozens of planes over non-payment of dues and it is left with just 13 aircraft, a senior SBI source told Reuters.

At its peak, 26-year-old Jet operated over 120 planes and well over 600 daily flights, flying Bollywood film-stars, politicians and business tycoons across India and the world.

If a deal fails to materialise, the airline could be dragged into bankruptcy by creditors, putting thousands of jobs at risk.

Middle Eastern carrier Etihad Airways has submitted a bid for a stake in India's Jet Airways, the unit of State Bank of India (SBI) overseeing the sale of the stricken airline said on Friday.

Middle Eastern carrier Etihad Airways has submitted a bid for a stake in India's Jet Airways, the unit of State Bank of India (SBI) overseeing the sale of the stricken airline said on Friday. SBI had invited binding bids for a stake in the airline, which is saddled with roughly $1.2 billion in bank debt. Binding offers were due by 1800 IST on Friday. Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier said earlier on Friday. However, he added that Etihad "cannot be expected to be the sole investor" and "additional suitable investors would need to provide the majority of Jet Airways' required recapitalisation." Etihad gave no indication whether it was working with any other investors that might take a majority stake in Jet. Once India's largest private airline, Jet was crippled by mounting losses as it tried to compete with low-cost rivals IndiGo and SpiceJet Ltd. Jet, which also owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders, led by SBI, refused to extend more funds to keep the carrier flying. Etihad was among four investors that submitted initial bids for the airline last month. The others were private equity firms TPG Capital and Indigo Partners and Indian wealth fund National Investment and Infrastructure Fund (NIIF). SBI has also received two unsolicited, non-binding bids for Jet, the bank's Chairman Rajnish Kumar told reporters, after a news conference on Friday, adding it had no plans at this time to drag the airline into a bankruptcy process "(We've) made disproportionate efforts to keep Jet flying," Kumar said. Jet for several months tried to convince investors, including Etihad, to pump in money and save the airline. But several potential investors had at least one condition - Jet's founder and former chairman Naresh Goyal must cede control. When Jet failed to garner interest, the banks, led by SBI, moved in with a rescue plan which was first announced in February and put into action in March after Goyal stepped down. "A few unsolicited offers have also been received which the lenders may deliberate upon subsequently," SBI Capital Markets said in a statement without giving further details. Losses and loans Analysts are sceptical the sale process will succeed. "The process of bidding and winning isn't so easy," said HDFC Securities analyst Deepak Jasani. "Day by day, losses and loans are rising at Jet, the more the process is delayed the more the situation becomes irreparable," he said. While the bid process was on, Jet was forced to vacate its offices at many airports across the country and employee access was revoked. Lessors also forced Jet to ground dozens of planes over non-payment of dues and it is left with just 13 aircraft, a senior SBI source told Reuters. At its peak, 26-year-old Jet operated over 120 planes and well over 600 daily flights, flying Bollywood film-stars, politicians and business tycoons across India and the world. If a deal fails to materialise, the airline could be dragged into bankruptcy by creditors, putting thousands of jobs at risk.

State Bank of India gets sealed bid for Jet Airways from Etihad

It is judgement day for Jet Airways on Friday as lenders to India’s oldest privately-held airline will meet later in the day and are expected to announce a winning bid for the airline. Jet Airways’ hope to regain its wings hinges on the offers that it receives on May 10, which is the last day to submit binding bids for a potential takeover of the airline.

WION Wallet: Judgement day for Jet Airways as bidding closes today

The State Bank of India (SBI) said on Friday it has received two unsolicited bids for ailing Jet Airways, nearly a month after the airline was forced to ground all operations due to funding troubles.

Jet, once India's largest private airline, stopped all flights on April 17 after its lenders, led by SBI, declined to extend more funds to keep the carrier going.

"(We have) made disproportionate efforts to keep Jet flying," the bank's chairman Rajnish Kumar told reporters in Mumbai.

<a href="https://www.wionews.com/business-economy/jet-airways-pilots-union-asks-supreme-court-to-direct-sbi-to-release-funds-217246">Jet Airways' pilots' union had appealed to the Supreme Court of India</a> to direct State Bank Of India (SBI) to release interim funding to try to revive the grounded airline, according to a court filing made on Tuesday which was reviewed by Reuters.

Jet halted all flight operations indefinitely on April 17 after its lenders rejected its plea for emergency funds, potentially the end of the line for what was once India's largest private airline.

The debt-laden airline has struggled to compete with low-cost carriers like IndiGo and SpiceJet that now dominate Indian skies, and its mounting losses forced it to ground its planes.

The National Aviator's Guild said in its petition that SBI's decision to not give the interim funding of 15 billion rupees ($216 million), after agreeing to it in March as part a resolution plan, has resulted in the airline being grounded and has impacted the livelihood of Jet's 22,000 employees.

The State Bank of India (SBI) said on Friday it has received two unsolicited bids for ailing Jet Airways, nearly a month after the airline was forced to ground all operations due to funding troubles.

The State Bank of India (SBI) said on Friday it has received two unsolicited bids for ailing Jet Airways, nearly a month after the airline was forced to ground all operations due to funding troubles. Jet, once India's largest private airline, stopped all flights on April 17 after its lenders, led by SBI, declined to extend more funds to keep the carrier going. "(We have) made disproportionate efforts to keep Jet flying," the bank's chairman Rajnish Kumar told reporters in Mumbai. Jet Airways' pilots' union had appealed to the Supreme Court of India to direct State Bank Of India (SBI) to release interim funding to try to revive the grounded airline, according to a court filing made on Tuesday which was reviewed by Reuters. Jet halted all flight operations indefinitely on April 17 after its lenders rejected its plea for emergency funds, potentially the end of the line for what was once India's largest private airline. The debt-laden airline has struggled to compete with low-cost carriers like IndiGo and SpiceJet that now dominate Indian skies, and its mounting losses forced it to ground its planes. The National Aviator's Guild said in its petition that SBI's decision to not give the interim funding of 15 billion rupees ($216 million), after agreeing to it in March as part a resolution plan, has resulted in the airline being grounded and has impacted the livelihood of Jet's 22,000 employees.

State Bank of India says two bids received for Jet Airways

<a href="https://www.wionews.com/business-economy/india-sees-little-scope-for-jet-airways-revival-government-sources-216085">Jet Airways</a>' pilots' union has appealed to the Supreme Court of India to direct State Bank Of India (SBI) to release interim funding to try to revive the grounded airline, according to a court filing made on Tuesday which was reviewed by Reuters.

Jet halted all flight operations indefinitely on April 17 after its lenders rejected its plea for emergency funds, potentially the end of the line for what was once India's largest private airline.

The debt-laden airline has struggled to compete with low-cost carriers like IndiGo and SpiceJet that now dominate Indian skies, and its mounting losses forced it to ground its planes.

The National Aviator's Guild said in its petition that SBI's decision to not give the interim funding of 15 billion rupees ($216 million), after agreeing to it in March as part a resolution plan, has resulted in the airline being grounded and has impacted the livelihood of Jet's 22,000 employees.

This "singular decision" by SBI was responsible for the operations of Jet Airways coming to a stop and "substantial de-valuation/depreciation in the value of Jet", the union said in the court filing.

SBI, as part of the resolution plan, has also invited bids from potential investors to take a stake in Jet. So far no bidders have publicly shown interest and the final bids are expected to be submitted by May 10.

There was no immediate comment from SBI.

Without the emergency funds, Jet was unable to pay rentals on its leased aircraft, forcing lessors to take backplanes.

Its slots have been temporarily re-allocated to other airlines and some of its pilots and other employees who have not been paid in months have taken up jobs elsewhere.

The union has asked the Supreme Court to direct the civil aviation ministry and aviation regulator to decline any further de-registration requests for Jet's leased aircraft and not to reassign its slots to other airlines permanently, according to the filing.

Allocation of Jet's slots, allotment of its seats under the international bilateral agreement with other airlines and handing over its de-registered aircraft to other carriers without following due process has "further devalued the worth of Jet Airways", the union said in its petition.

"The consequence is that there is hardly any likelihood of some serious buyer for the airline," the pilots' union said in the petition, urging the court to act swiftly.

Jet Airways' pilots' union has appealed to the Supreme Court of India to direct State Bank Of India (SBI) to release interim funding to try to revive the grounded airline, according to a court filing made on Tuesday which was reviewed by Reuters.

Jet Airways' pilots' union has appealed to the Supreme Court of India to direct State Bank Of India (SBI) to release interim funding to try to revive the grounded airline, according to a court filing made on Tuesday which was reviewed by Reuters. Jet halted all flight operations indefinitely on April 17 after its lenders rejected its plea for emergency funds, potentially the end of the line for what was once India's largest private airline. The debt-laden airline has struggled to compete with low-cost carriers like IndiGo and SpiceJet that now dominate Indian skies, and its mounting losses forced it to ground its planes. The National Aviator's Guild said in its petition that SBI's decision to not give the interim funding of 15 billion rupees ($216 million), after agreeing to it in March as part a resolution plan, has resulted in the airline being grounded and has impacted the livelihood of Jet's 22,000 employees. This "singular decision" by SBI was responsible for the operations of Jet Airways coming to a stop and "substantial de-valuation/depreciation in the value of Jet", the union said in the court filing. SBI, as part of the resolution plan, has also invited bids from potential investors to take a stake in Jet. So far no bidders have publicly shown interest and the final bids are expected to be submitted by May 10. There was no immediate comment from SBI. Without the emergency funds, Jet was unable to pay rentals on its leased aircraft, forcing lessors to take backplanes. Its slots have been temporarily re-allocated to other airlines and some of its pilots and other employees who have not been paid in months have taken up jobs elsewhere. The union has asked the Supreme Court to direct the civil aviation ministry and aviation regulator to decline any further de-registration requests for Jet's leased aircraft and not to reassign its slots to other airlines permanently, according to the filing. Allocation of Jet's slots, allotment of its seats under the international bilateral agreement with other airlines and handing over its de-registered aircraft to other carriers without following due process has "further devalued the worth of Jet Airways", the union said in its petition. "The consequence is that there is hardly any likelihood of some serious buyer for the airline," the pilots' union said in the petition, urging the court to act swiftly.

Jet Airways pilots' union asks Supreme Court to direct SBI to release funds

Just two days before the deadline for putting in bids, Jet Airways has got its first proposal from an unlikely group of investors. The group includes two little known entrepreneurs: a British, an NRI, and investment firms Future Trend Capital Investments, Redcliffe Capital and Adi Partners.

WION Wallet: Jet Airways gets its first bid from a group of investors includes two entrepreneurs

Several employees of Jet Airways including pilots, engineers and members of the cabin crew gathered at T2 Airport in Mumbai outside Jet Airways ticket window to protest against the lack of payment over the last few months and demand government intervention in the crisis. Watch the video to know more!

WION Wallet: Jet Airways employees protest demanding unpaid salaries at T2 Airport in Mumbai

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At least 33 people lost their lives after cyclone Fani struck Odisha on Friday but a timely massive evocuation carried out by the state government averted the higher death toll.&nbsp;

<a href="https://www.wionews.com/world/iran-using-all-resources-to-sell-oil-in-grey-market-deputy-minister-216113">Iran using all resources to sell oil in 'grey market': Deputy minister</a>

Iran has mobilised all its resources to sell oil in a "grey market", bypassing US sanctions that Tehran sees as illegitimate, state media quoted Deputy Oil Minister Amir Hossein Zamaninia as saying on Sunday.

<a href="https://www.wionews.com/business-economy/india-sees-little-scope-for-jet-airways-revival-government-sources-216085">Little scope for Jet Airways revival: Government sources</a>

The government sees little hope of a bidder emerging for debt-laden Jet Airways Ltd, which halted operations last month, a Reuters report said quoting two senior finance ministry officials.

<a href="https://www.wionews.com/sports/exclusive-sourav-ganguly-on-delhis-chances-of-lifting-ipl-2019-trophy-216087">Exclusive: Sourav Ganguly on Delhi's chances of lifting IPL 2019 trophy</a>

Delhi's fortune changed in the 12th edition of the Indian Premier League (IPL) with the team managing to reach the knockout stage for the first time since 2012.&nbsp;

<a href="https://www.wionews.com/world/pope-says-emigration-low-birth-rates-have-brought-ice-curtain-on-europe-216090">Pope says emigration, low birth rates have brought 'ice curtain' on Europe</a>

Pope Francis urged European leaders on Sunday to address wealth inequality and low birth rates which he said had created an "ice curtain" between Europe's richer and poorer states and was fuelling emigration.

Cyclone Fani: Death toll rises to 33 as CM Patnaik announces relief package At least 33 people lost their lives after cyclone Fani struck Odisha on Friday but a timely massive evocuation carried out by the state government averted the higher death toll.

Cyclone Fani: Death toll rises to 33 as CM Patnaik announces relief package At least 33 people lost their lives after cyclone Fani struck Odisha on Friday but a timely massive evocuation carried out by the state government averted the higher death toll. Iran using all resources to sell oil in 'grey market': Deputy minister Iran has mobilised all its resources to sell oil in a "grey market", bypassing US sanctions that Tehran sees as illegitimate, state media quoted Deputy Oil Minister Amir Hossein Zamaninia as saying on Sunday. Little scope for Jet Airways revival: Government sources The government sees little hope of a bidder emerging for debt-laden Jet Airways Ltd, which halted operations last month, a Reuters report said quoting two senior finance ministry officials. Exclusive: Sourav Ganguly on Delhi's chances of lifting IPL 2019 trophy Delhi's fortune changed in the 12th edition of the Indian Premier League (IPL) with the team managing to reach the knockout stage for the first time since 2012. Pope says emigration, low birth rates have brought 'ice curtain' on Europe Pope Francis urged European leaders on Sunday to address wealth inequality and low birth rates which he said had created an "ice curtain" between Europe's richer and poorer states and was fuelling emigration.

The government sees little hope of a bidder emerging for debt-laden Jet Airways Ltd, which halted operations last month, a Reuters report said quoting&nbsp;two senior finance ministry officials.

Parties that had initially expressed interest in Jet, which is saddled with roughly $1.2 billion of debt, have so far failed to come forward with firm bids to bail it out, increasing odds that it could soon face bankruptcy proceedings, the report added.

"There is little scope in the revival of Jet," said one official, adding that if a bidder emerged, the government was still willing to restore slots to the private airline that had been temporarily given to rivals, according to the report.

The second official said it was only a matter of time before someone dragged the carrier to the National Company Law Tribunal - India's bankruptcy court - for recovery of dues.

(With inputs from Reuters)

The government sees little hope of a bidder emerging for debt-laden Jet Airways Ltd, which halted operations last month, a Reuters report said quoting two senior finance ministry officials.

The government sees little hope of a bidder emerging for debt-laden Jet Airways Ltd, which halted operations last month, a Reuters report said quoting two senior finance ministry officials. Parties that had initially expressed interest in Jet, which is saddled with roughly $1.2 billion of debt, have so far failed to come forward with firm bids to bail it out, increasing odds that it could soon face bankruptcy proceedings, the report added. "There is little scope in the revival of Jet," said one official, adding that if a bidder emerged, the government was still willing to restore slots to the private airline that had been temporarily given to rivals, according to the report. The second official said it was only a matter of time before someone dragged the carrier to the National Company Law Tribunal - India's bankruptcy court - for recovery of dues. (With inputs from Reuters)

Little scope for Jet Airways revival: Government sources

With just ten days to go for final submission of bids, three of the four qualified bidders — Etihad Airways, TPG Capital and Indigo Partners — have not signed nondisclosure agreements, a must for conducting due diligence. None of the bidders, barring National Investment and Infrastructure Fund (NIIF), has been accessing the data room where potential investors are supposed to peruse Jet’s accounts and key documents as part of the due diligence.

WION Wallet: Jet crisis: Bidders show no interest, employees demand govt intervention

Shares of Jet Airways Ltd tumbled over 20 per cent to a decade low on Thursday after a media report said bidders for the struggling airline had not yet shown interest in following up on their offers.

Three of the four qualified bidders - Etihad Airways, TPG Capital and Indigo Partners - have not signed non-disclosure agreements necessary for conducting due diligence, with just days left now to submit their final bids, the Economic Times newspaper reported, citing sources.

The bidders have until May 10 to submit their offers, but stakeholders are not hopeful, the paper said.

"We are staring at an obituary," the daily quoted an executive at one of Jet`s key lenders as saying.&nbsp;

Jet, once India`s largest private airline, was forced to stop all flight operations on April 17 after its banks rejected the carrier`s plea for emergency funds.

Jet management has also been trying to tap India`s biggest business houses for investment, the paper said.

They have met executives at Mahindra, Adani, Tata group and Reliance Industries in the last two weeks, but none of the conglomerates have responded positively, it said.

Jet Airways, Etihad Airways, TPG Capital, Adani, Tata and Reliance did not immediately respond to Reuters requests for comment, while Indigo Partners and Mahindra group were not immediately reachable for comment.

Jet's stock was trading at 123 rupees at 0357 GMT, their lowest since March 2009. 
&nbsp;

Shares of Jet Airways Ltd tumbled over 20 per cent to a decade low on Thursday after a media report said bidders for the struggling airline had not yet shown interest in following up on their offers.

Shares of Jet Airways Ltd tumbled over 20 per cent to a decade low on Thursday after a media report said bidders for the struggling airline had not yet shown interest in following up on their offers. Three of the four qualified bidders - Etihad Airways, TPG Capital and Indigo Partners - have not signed non-disclosure agreements necessary for conducting due diligence, with just days left now to submit their final bids, the Economic Times newspaper reported, citing sources. The bidders have until May 10 to submit their offers, but stakeholders are not hopeful, the paper said. "We are staring at an obituary," the daily quoted an executive at one of Jet`s key lenders as saying. Jet, once India`s largest private airline, was forced to stop all flight operations on April 17 after its banks rejected the carrier`s plea for emergency funds. Jet management has also been trying to tap India`s biggest business houses for investment, the paper said. They have met executives at Mahindra, Adani, Tata group and Reliance Industries in the last two weeks, but none of the conglomerates have responded positively, it said. Jet Airways, Etihad Airways, TPG Capital, Adani, Tata and Reliance did not immediately respond to Reuters requests for comment, while Indigo Partners and Mahindra group were not immediately reachable for comment. Jet's stock was trading at 123 rupees at 0357 GMT, their lowest since March 2009.

Jet Airways shares plunge over 20% after report says bidders not keen to follow up

With just ten days to go for final submission of bids, three of the four qualified bidders — Etihad Airways, TPG Capital and Indigo Partners — have not signed nondisclosure agreements, a must for conducting due diligence

WION Wallet: Jet Airways bidders show no expressions of interest

The Delhi High Court on Wednesday issued a notice to Jet Airways regarding a plea seeking a full refund of the airfare to the passengers who were affected by the suspension of the airline's service.

The bench led by Chief Justice Rajendra Menon and Justice Anup Jairam Bhambhani also sought a reply from Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation in this regard.

The plea was filed by advocate Shashank Deo Sudhi on behalf of petitioner Bejon Kumar Mishra.

It sought prompt resolution to all the affected passengers by a full refund of the amount in respect of their booked air ticket or accommodation in other flights.

Jet Airways, on April 17, cancelled all flights, including its international flights temporarily, after failing to secure emergency funds from its lenders, according to a statement by the airlines.

July 16 has been set as the next date for hearing in the court.

The Delhi High Court on Wednesday issued a notice to Jet Airways regarding a plea seeking a full refund of the airfare to the passengers who were affected by the suspension of the airline's service.

The Delhi High Court on Wednesday issued a notice to Jet Airways regarding a plea seeking a full refund of the airfare to the passengers who were affected by the suspension of the airline's service. The bench led by Chief Justice Rajendra Menon and Justice Anup Jairam Bhambhani also sought a reply from Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation in this regard. The plea was filed by advocate Shashank Deo Sudhi on behalf of petitioner Bejon Kumar Mishra. It sought prompt resolution to all the affected passengers by a full refund of the amount in respect of their booked air ticket or accommodation in other flights. Jet Airways, on April 17, cancelled all flights, including its international flights temporarily, after failing to secure emergency funds from its lenders, according to a statement by the airlines. July 16 has been set as the next date for hearing in the court.

Delhi High Court issues notice to Jet Airways

The <a href="https://www.wionews.com/india-news/now-employees-consortium-to-bid-for-jet-airways-seeks-to-raise-rs-3000-crore-from-outside-investors-214546">Jet Airways officers and staff</a> gathered on Wednesday to pay condolences to late Shailesh Singh who committed suicide after the airline carrier suspended all its flight operations as it ran out of money and failed to raise bank loans.

On occasion of Labour Day, the Jet Airways employees also organised a peaceful protest and requested the government's interference to save the airline.

Krishna Rama Naidu, an employee in the cargo department of Jet Airways said: "On Labour Day, we have gathered for a peaceful protest. We did not get our salaries for two months. Our mediclaim policy had also lapsed."

In a letter, Rahul Taneja, CPO, Jet Airways on Tuesday said: "In the absence of any emergency funding from the lenders or any other source of funds forthcoming in the near future, we find ourselves facing a situation where we are not able to fund the premium of our group mediclaim policy. The group mediclaim policy lapses on the midnight of April 30, 2019."

Sushma Shetty, who has been associated with the airline carrier for 11 years, also sought government's interference. "We are doing peace march to request the government to save the Jet Airways and the families of 22,000 staff. A staff member also attempted to commit suicide," she said.

Singh, a senior technician in Jet Airways, was suffering from stomach cancer. The crisis surrounding the Airline had allegedly forced him to commit suicide by jumping off a building in Mumbai on April 26.

Jet Airways, on April 17, cancelled all flights, including its international flights temporarily, after failing to secure emergency funds from its lenders, according to a statement by the airlines.

The Jet Airways officers and staff gathered on Wednesday to pay condolences to late Shailesh Singh who committed suicide after the airline carrier suspended all its flight operations as it ran out of money and failed to raise bank loans.

The Jet Airways officers and staff gathered on Wednesday to pay condolences to late Shailesh Singh who committed suicide after the airline carrier suspended all its flight operations as it ran out of money and failed to raise bank loans. On occasion of Labour Day, the Jet Airways employees also organised a peaceful protest and requested the government's interference to save the airline. Krishna Rama Naidu, an employee in the cargo department of Jet Airways said: "On Labour Day, we have gathered for a peaceful protest. We did not get our salaries for two months. Our mediclaim policy had also lapsed." In a letter, Rahul Taneja, CPO, Jet Airways on Tuesday said: "In the absence of any emergency funding from the lenders or any other source of funds forthcoming in the near future, we find ourselves facing a situation where we are not able to fund the premium of our group mediclaim policy. The group mediclaim policy lapses on the midnight of April 30, 2019." Sushma Shetty, who has been associated with the airline carrier for 11 years, also sought government's interference. "We are doing peace march to request the government to save the Jet Airways and the families of 22,000 staff. A staff member also attempted to commit suicide," she said. Singh, a senior technician in Jet Airways, was suffering from stomach cancer. The crisis surrounding the Airline had allegedly forced him to commit suicide by jumping off a building in Mumbai on April 26. Jet Airways, on April 17, cancelled all flights, including its international flights temporarily, after failing to secure emergency funds from its lenders, according to a statement by the airlines.

Jet Airways employees organise protest, requests government's interference

The grounding of Jet has come as an opportunity for the market to hire readily-available skilled workforce from the licenced categories--pilots, engineers and cabin crew and deploy them directly into specifics roles, thereby saving time and money on training them.

WION Wallet: Vistara to hire Jet's 100 pilots & 400 cabin crews as well

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