Shares of Jet Airways Ltd jumped as much as 6 per cent on Friday, a day after two sources told Reuters that<a href="http://www.wionews.com/business-economy/jet-airways-founder-naresh-goyal-agrees-to-step-down-as-chairman-sources-200362"> founder Naresh Goyal had agreed to step down as chairman</a>.

Goyal, who founded the full-service carrier 25 years ago, has also agreed to reduce his 51 per cent stake in the airline but would continue to be a part of the company in some capacity even after stepping down as chairman, one of the sources said.

Jet, saddled with over $1 billion debt, had a rough 2018 as competition intensified in the Indian skies, the rupee depreciated and high oil prices squeezed margins.

Jet did not respond to an email seeking comments. The company had said last week that its board had approved a rescue deal which will make its lenders, led by State Bank of India (SBI), its largest shareholder.

The airline was also forced to ground another six planes on Thursday due to non-payment of dues to lessors, taking the tally to 19 which is about 15 per cent of its fleet. It has a fleet of about 123, mainly Boeing Co planes, including 16-owned aircraft.

The stock posted its biggest daily percentage gain since February 15, hitting a high of 237.05 rupees. It was last up 4.4 per cent as of 0347 GMT.

Shares of Jet Airways Ltd jumped as much as 6 per cent on Friday, a day after two sources told Reuters that founder Naresh Goyal had agreed to step down as chairman.

Shares of Jet Airways Ltd jumped as much as 6 per cent on Friday, a day after two sources told Reuters that founder Naresh Goyal had agreed to step down as chairman. Goyal, who founded the full-service carrier 25 years ago, has also agreed to reduce his 51 per cent stake in the airline but would continue to be a part of the company in some capacity even after stepping down as chairman, one of the sources said. Jet, saddled with over $1 billion debt, had a rough 2018 as competition intensified in the Indian skies, the rupee depreciated and high oil prices squeezed margins. Jet did not respond to an email seeking comments. The company had said last week that its board had approved a rescue deal which will make its lenders, led by State Bank of India (SBI), its largest shareholder. The airline was also forced to ground another six planes on Thursday due to non-payment of dues to lessors, taking the tally to 19 which is about 15 per cent of its fleet. It has a fleet of about 123, mainly Boeing Co planes, including 16-owned aircraft. The stock posted its biggest daily percentage gain since February 15, hitting a high of 237.05 rupees. It was last up 4.4 per cent as of 0347 GMT.

Jet Airways shares rise after report of chairman stepping down

Jet Airways' founder Naresh Goyal has agreed to step down as chairman of the airline's board, two sources with direct knowledge of the matter told Reuters on Thursday, as the cash-strapped Indian carrier inches closer to securing a rescue deal.

Goyal, who founded the full-service carrier 25 years ago, has also agreed to reduce his 51 percent stake, one source said. The source said Goyal would continue to be a part of the company in some capacity even after stepping down as chairman.

The rising dominance of low-cost carriers like IndiGo in a price sensitive market as well as high oil prices, hefty fuel taxes and a weak rupee have left Jet strapped for cash.

Saddled with a billion dollars in debt, Jet Airways is struggling to make payments to its pilots, vendors and lessors, some of whom have forced the airline to ground over a dozen planes.

Jet did not respond to an email seeking comment but said last week its board had approved a rescue deal which will make its lenders, lead by State Bank of India (SBI), its largest shareholders.

The deal, which is subject to regulatory approvals, includes an equity infusion, debt restructuring and the sale or sale and lease back of aircraft.

Eithad, which owns a 24 per cent stake in Jet Airways, is reticent to put more money into the airline including interim funds of about 7 billion rupees ($99 million), one of the sources said.

The Abu Dhabi carrier, however, is still in discussions to raise its stake in Jet but will not shoulder any management responsibility, said a third source aware of the matter.

"Management of the airline is a hot sticking point that needs to be sorted out," said the source, indicating that Etihad's patience appeared to be wearing thin.

An Etihad spokesman declined to comment.

Jet Airways' founder Naresh Goyal has agreed to step down as chairman of the airline's board, two sources with direct knowledge of the matter told Reuters on Thursday, as the cash-strapped Indian carrier inches closer to securing a rescue deal.

Jet Airways' founder Naresh Goyal has agreed to step down as chairman of the airline's board, two sources with direct knowledge of the matter told Reuters on Thursday, as the cash-strapped Indian carrier inches closer to securing a rescue deal. Goyal, who founded the full-service carrier 25 years ago, has also agreed to reduce his 51 percent stake, one source said. The source said Goyal would continue to be a part of the company in some capacity even after stepping down as chairman. The rising dominance of low-cost carriers like IndiGo in a price sensitive market as well as high oil prices, hefty fuel taxes and a weak rupee have left Jet strapped for cash. Saddled with a billion dollars in debt, Jet Airways is struggling to make payments to its pilots, vendors and lessors, some of whom have forced the airline to ground over a dozen planes. Jet did not respond to an email seeking comment but said last week its board had approved a rescue deal which will make its lenders, lead by State Bank of India (SBI), its largest shareholders. The deal, which is subject to regulatory approvals, includes an equity infusion, debt restructuring and the sale or sale and lease back of aircraft. Eithad, which owns a 24 per cent stake in Jet Airways, is reticent to put more money into the airline including interim funds of about 7 billion rupees ($99 million), one of the sources said. The Abu Dhabi carrier, however, is still in discussions to raise its stake in Jet but will not shoulder any management responsibility, said a third source aware of the matter. "Management of the airline is a hot sticking point that needs to be sorted out," said the source, indicating that Etihad's patience appeared to be wearing thin. An Etihad spokesman declined to comment.

Jet Airways founder Naresh Goyal agrees to step down as chairman: Sources

Pilots of crisis-hit Jet Airways this week discussed the current situation and are likely to take a final call next month in case the airline fails to adhere to the timeline set for partial payment of salaries, according to a source.

Grappling with acute financial woes, the full service carrier is looking to restructure debt and raise funds.

Jet Airways has been making salary payments to many of its employees, including pilots, in a staggered manner, amid financial crunch.

The current situation of the airline was discussed during an open house meeting, organised by the National Aviator's Guild (NAG), in Mumbai Monday, the source said.

The NAG is a grouping of the airline's pilots.

The source said, the main issue was regarding non-adherence to the salary payment schedule that was communicated to the pilots in December.

According to the source, it was decided at the meeting that in case of a default in the salary payout committed for February, then the pilots would collectively take a final call next month.

The airline will seek approval for conversion of loans into shares, among other proposals, at the meeting of shareholders to be held on February 21.

Jet Airways would seek nod to "convert the whole or part of the outstanding under loans, extended/to be extended by the lenders, into shares, or convertible instruments or other securities, of the company...", as per a filing made last month.

The conversion would be done as per the terms contained in the respective loan documents between the company and its lenders. It would also be subject to all requisite regulatory approvals.

Besides, Jet Airways would seek shareholders' approval to negotiate and finalise the terms and conditions with the lenders for raising further loans from time to time as well as provide the lenders with a right to convert such loans into shares, or convertible instruments or other securities.&nbsp; 
&nbsp;

Pilots of crisis-hit Jet Airways this week discussed the current situation and are likely to take a final call next month in case the airline fails to adhere to the timeline set for partial payment of salaries, according to a source.

Pilots of crisis-hit Jet Airways this week discussed the current situation and are likely to take a final call next month in case the airline fails to adhere to the timeline set for partial payment of salaries, according to a source. Grappling with acute financial woes, the full service carrier is looking to restructure debt and raise funds. Jet Airways has been making salary payments to many of its employees, including pilots, in a staggered manner, amid financial crunch. The current situation of the airline was discussed during an open house meeting, organised by the National Aviator's Guild (NAG), in Mumbai Monday, the source said. The NAG is a grouping of the airline's pilots. The source said, the main issue was regarding non-adherence to the salary payment schedule that was communicated to the pilots in December. According to the source, it was decided at the meeting that in case of a default in the salary payout committed for February, then the pilots would collectively take a final call next month. The airline will seek approval for conversion of loans into shares, among other proposals, at the meeting of shareholders to be held on February 21. Jet Airways would seek nod to "convert the whole or part of the outstanding under loans, extended/to be extended by the lenders, into shares, or convertible instruments or other securities, of the company...", as per a filing made last month. The conversion would be done as per the terms contained in the respective loan documents between the company and its lenders. It would also be subject to all requisite regulatory approvals. Besides, Jet Airways would seek shareholders' approval to negotiate and finalise the terms and conditions with the lenders for raising further loans from time to time as well as provide the lenders with a right to convert such loans into shares, or convertible instruments or other securities.

Jet pilots discuss airline's current situation; may take final call on salary payment delays in March

Debt-laden Indian carrier Jet Airways on Wednesday denied its <a href="http://www.wionews.com/business-economy/jet-airways-decides-to-cancel-15-flights-on-wednesday-six-boeing-737-planes-on-ground-193877">aircraft had been grounded</a> by GE Capital Aviation Services (GECAS) after media reports raised further concerns over the airline's ability to pay dues.

Jet's troubles have been worsened by a rising debt-pile, amid intense competition in the Indian aviation sector and higher oil prices.

In the latest effort to save itself, the airline will now seek shareholder approval next month to convert existing debt into equity.

Earlier in the day, media reports said that Jet had been asked by GECAS, the aircraft financing and leasing business of General Electric Co, to ground at least five Boeing 737 planes due to non-payment of dues.

Jet said in its statement that it had not ground any aircraft due to a notice from GECAS.

The airline is in the process of delivering three aircraft to lessors due to the scheduled expiry of lease terms, it said in a statement.

Jet added that three of its aircraft were temporarily grounded for engine normalization, which is expected to be completed by Friday. Two others were on ground - one for scheduled termination of the engine's lease and another for technical reasons.

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Jet Airways on cancellation of its 4 flights on January 28: The cancellations were due to scheduled termination of an aircraft lease &amp; to carry out an engine normalization exercise. The aircraft temporarily grounded are expected to rejoin operations from February 1. <a href="https://t.co/WihDD5cCWs">pic.twitter.com/WihDD5cCWs</a>
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Crisis talks between the airline and its lessors had failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter told Reuters earlier this month.

Meanwhile, Abu Dhabi-based Etihad Airways, Jet's second-largest shareholder, is now in talks with creditors for a deal that could help the airline back on its feet.

Debt-laden Indian carrier Jet Airways on Wednesday denied its aircraft had been grounded by GE Capital Aviation Services (GECAS) after media reports raised further concerns over the airline's ability to pay dues.

Debt-laden Indian carrier Jet Airways on Wednesday denied its aircraft had been grounded by GE Capital Aviation Services (GECAS) after media reports raised further concerns over the airline's ability to pay dues. Jet's troubles have been worsened by a rising debt-pile, amid intense competition in the Indian aviation sector and higher oil prices. In the latest effort to save itself, the airline will now seek shareholder approval next month to convert existing debt into equity. Earlier in the day, media reports said that Jet had been asked by GECAS, the aircraft financing and leasing business of General Electric Co, to ground at least five Boeing 737 planes due to non-payment of dues. Jet said in its statement that it had not ground any aircraft due to a notice from GECAS. The airline is in the process of delivering three aircraft to lessors due to the scheduled expiry of lease terms, it said in a statement. Jet added that three of its aircraft were temporarily grounded for engine normalization, which is expected to be completed by Friday. Two others were on ground - one for scheduled termination of the engine's lease and another for technical reasons. Jet Airways on cancellation of its 4 flights on January 28: The cancellations were due to scheduled termination of an aircraft lease & to carry out an engine normalization exercise. The aircraft temporarily grounded are expected to rejoin operations from February 1. pic.twitter.com/WihDD5cCWs — ANI (@ANI) January 30, 2019 × Crisis talks between the airline and its lessors had failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter told Reuters earlier this month. Meanwhile, Abu Dhabi-based Etihad Airways, Jet's second-largest shareholder, is now in talks with creditors for a deal that could help the airline back on its feet.

Jet Airways denies being told to ground aircraft

<a href="http://www.wionews.com/business-economy/sbi-set-to-own-15-of-jet-airways-after-debt-for-equity-swap-reports-193650">Crisis-ridden Jet Airways</a> has decided to cancel 15 flights on Wednesday following the grounding of six Boeing 737 planes due to non-payment of lease rentals, according to sources.

The airline, which is grappling with acute financial woes, cancelled around 20 flights on Tuesday as three more Boeing 737 aircraft were grounded, they added.

In two days, the carrier has grounded six such planes following non-payment of lease rentals.

The sources said the airline would be cancelling 15 flights on Wednesday, including a few flights from the national capital to various destinations.

"<a href="https://www.google.com/url?q=http://www.wionews.com/india-news/jet-airways-shares-bounce-back-settle-with-over-5-pc-gain-191048&amp;sa=U&amp;ved=0ahUKEwj9l_DnmZXgAhXFRY8KHQ1LB34QFggXMAY&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw3O0l0lm1REqKvZEkeZRpJw">Jet Airways</a> has defaulted on aircraft lease rentals and it has been forced to ground three more narrow-body Boeing 737 planes," a source told PTI earlier in the day.

Queries sent to the airline remained unanswered.

Due to the fresh grounding of the planes, the airline, which is negotiating with its partner Etihad for an additional cash infusion, has cancelled as many as 19 flights to/ from Delhi, Chennai, Mumbai, Pune, Hyderabad, Port Blair and Bengaluru, the source said.

The full-service carrier would be holding a meeting of the shareholders on February 21.

The airline will seek shareholders' approval for conversion loan into shares or convertible instruments or other securities, according to a regulatory filing made on Monday.

The carrier would seek shareholders' nod to "convert the whole or part of the outstanding under loans, extended / to be extended by the lenders, into shares, or convertible instruments or other securities, of the company...", according to the notice of the meeting submitted to the stock exchanges.

The conversion will be done as per the terms contained in the respective loan documents between the company and its lenders. It would also be subject to all requisite regulatory approvals.

Besides, Jet Airways will seek shareholders' approval to negotiate and finalise the terms and conditions with the lenders for raising further loans from time to time as well as provide the lenders with a right to convert such loans into shares, or convertible instruments or other securities.&nbsp;

Crisis-ridden Jet Airways has decided to cancel 15 flights on Wednesday following the grounding of six Boeing 737 planes due to non-payment of lease rentals, according to sources.

Crisis-ridden Jet Airways has decided to cancel 15 flights on Wednesday following the grounding of six Boeing 737 planes due to non-payment of lease rentals, according to sources. The airline, which is grappling with acute financial woes, cancelled around 20 flights on Tuesday as three more Boeing 737 aircraft were grounded, they added. In two days, the carrier has grounded six such planes following non-payment of lease rentals. The sources said the airline would be cancelling 15 flights on Wednesday, including a few flights from the national capital to various destinations. "Jet Airways has defaulted on aircraft lease rentals and it has been forced to ground three more narrow-body Boeing 737 planes," a source told PTI earlier in the day. Queries sent to the airline remained unanswered. Due to the fresh grounding of the planes, the airline, which is negotiating with its partner Etihad for an additional cash infusion, has cancelled as many as 19 flights to/ from Delhi, Chennai, Mumbai, Pune, Hyderabad, Port Blair and Bengaluru, the source said. The full-service carrier would be holding a meeting of the shareholders on February 21. The airline will seek shareholders' approval for conversion loan into shares or convertible instruments or other securities, according to a regulatory filing made on Monday. The carrier would seek shareholders' nod to "convert the whole or part of the outstanding under loans, extended / to be extended by the lenders, into shares, or convertible instruments or other securities, of the company...", according to the notice of the meeting submitted to the stock exchanges. The conversion will be done as per the terms contained in the respective loan documents between the company and its lenders. It would also be subject to all requisite regulatory approvals. Besides, Jet Airways will seek shareholders' approval to negotiate and finalise the terms and conditions with the lenders for raising further loans from time to time as well as provide the lenders with a right to convert such loans into shares, or convertible instruments or other securities.

Jet Airways cancels 15 flights, grounds six Boeing's due to financial woes

State Bank of India, a lender to Jet Airways, is likely to own 15 per cent of the cash-strapped carrier after the airline gets consent for a debt to equity swap, TV channels reported on Tuesday citing agencies.

Jet Airways said on Monday it would seek a shareholder nod next month to convert existing debt into equity, raise more money and allow its lenders to nominate a director on its board as part of efforts to resolve its <a href="http://www.wionews.com/world/lessors-to-troubled-jet-airways-consider-taking-back-planes-report-189642">financing problems</a>.

Jet's lenders could end up owning as much as 30 per cent while its shareholder Etihad Airways could see its stake go up to more than 40 percent from 24 percent at present as it infuses more equity, the TV channels reported.

State Bank of India, a lender to Jet Airways, is likely to own 15 per cent of the cash-strapped carrier after the airline gets consent for a debt to equity swap, TV channels reported on Tuesday citing agencies.

State Bank of India, a lender to Jet Airways, is likely to own 15 per cent of the cash-strapped carrier after the airline gets consent for a debt to equity swap, TV channels reported on Tuesday citing agencies. Jet Airways said on Monday it would seek a shareholder nod next month to convert existing debt into equity, raise more money and allow its lenders to nominate a director on its board as part of efforts to resolve its financing problems. Jet's lenders could end up owning as much as 30 per cent while its shareholder Etihad Airways could see its stake go up to more than 40 percent from 24 percent at present as it infuses more equity, the TV channels reported.

SBI set to own 15% of Jet Airways after debt-for-equity swap: Reports

Shares of <a href="https://www.google.com/url?q=http://www.wionews.com/business-economy/jet-airways-shares-fall-further-plunge-over-5-190956&amp;sa=U&amp;ved=0ahUKEwjxysS08vTfAhVQ-2EKHSw1Dq8QFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw27JMTSDbEvEEEVIeVY35-N">Jet Airways</a> erased early losses and ended over 5 per cent higher Thursday after Chairman Naresh Goyal offered to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent.

The scrip bounced back and ended 5.09 per cent higher at Rs 284.80 on the BSE. During the day, the stock had plunged 5.31 per cent to Rs 256.60.

At NSE, shares of the company soared 5.28 per cent to close at Rs 283.95.

In terms of equity volume, 48.12 lakh shares of the company were traded on BSE and over 6 crore shares changed hands at NSE during the day. 
Goyal said he is committed to an "infusion of funds into the company to the extent of Rs 700 crore" and pledging all his shares.

This is subject to the condition that his shareholding post such infusion is at least 25 per cent, he said in the letter which was seen by PTI.

Jet Airways Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent.

Goyal's offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier.

In a letter to SBI Chairman Rajnish Kumar, Goyal said he is writing with reference to the resolution plan under discussion and in view of Etihad's position, "despite the significant cash crunch and imminent grounding, which the airline is facing".

According to Jet Airways' shareholding pattern on BSE, as of the quarter ending December 2018, Goyal owns 5,79,33,665 shares, amounting to 51 per cent stake in the company

Shares of Jet Airways erased early losses and ended over 5 per cent higher Thursday after Chairman Naresh Goyal offered to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent.

Shares of Jet Airways erased early losses and ended over 5 per cent higher Thursday after Chairman Naresh Goyal offered to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent. The scrip bounced back and ended 5.09 per cent higher at Rs 284.80 on the BSE. During the day, the stock had plunged 5.31 per cent to Rs 256.60. At NSE, shares of the company soared 5.28 per cent to close at Rs 283.95. In terms of equity volume, 48.12 lakh shares of the company were traded on BSE and over 6 crore shares changed hands at NSE during the day. Goyal said he is committed to an "infusion of funds into the company to the extent of Rs 700 crore" and pledging all his shares. This is subject to the condition that his shareholding post such infusion is at least 25 per cent, he said in the letter which was seen by PTI. Jet Airways Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent. Goyal's offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier. In a letter to SBI Chairman Rajnish Kumar, Goyal said he is writing with reference to the resolution plan under discussion and in view of Etihad's position, "despite the significant cash crunch and imminent grounding, which the airline is facing". According to Jet Airways' shareholding pattern on BSE, as of the quarter ending December 2018, Goyal owns 5,79,33,665 shares, amounting to 51 per cent stake in the company

Jet Airways shares bounce back; settle with over 5 per cent gain

<a href="http://13.232.42.114/business-economy/ready-to-infuse-up-to-rs-700-crore-in-jet-airways-subject-to-conditions-says-naresh-goyal-190922">Shares of Jet Airways</a> fell for the second straight session Thursday, plunging over 5 per cent, amid continued uncertainty over the revival plan of the company.

The scrip declined 5.31 per cent to Rs 256.60 on BSE. On NSE, shares of the company slumped 4.93 per cent to Rs 256.40. 
The stock has been falling since Wednesday and, in the process, its market valuation has been eroded by Rs 365.48 crore in two days on BSE.

Jet Airways' shares slumped nearly 8 per cent on Wednesday too. 
The airline's Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent.

Goyal's offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier.

In a letter to SBI Chairman Rajnish Kumar, Goyal said he is writing with reference to the resolution plan under discussion and in view of Etihad's position, "despite the significant cash crunch and imminent grounding, which the airline is facing".

Goyal said he is committed to an "infusion of funds into the company to the extent of Rs 700 crore" and pledging all his shares. 
This is subject to the condition that his shareholding post such infusion is at least 25 per cent, he said in the letter which was seen by PTI.

According to Jet Airways' shareholding pattern on BSE, as of the quarter ending December 2018, Goyal owns 5,79,33,665 shares, amounting to 51 per cent stake in the company.

Shares of Jet Airways fell for the second straight session Thursday, plunging over 5 per cent, amid continued uncertainty over the revival plan of the company. The scrip declined 5.

Shares of Jet Airways fell for the second straight session Thursday, plunging over 5 per cent, amid continued uncertainty over the revival plan of the company. The scrip declined 5.31 per cent to Rs 256.60 on BSE. On NSE, shares of the company slumped 4.93 per cent to Rs 256.40. The stock has been falling since Wednesday and, in the process, its market valuation has been eroded by Rs 365.48 crore in two days on BSE. Jet Airways' shares slumped nearly 8 per cent on Wednesday too. The airline's Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent. Goyal's offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier. In a letter to SBI Chairman Rajnish Kumar, Goyal said he is writing with reference to the resolution plan under discussion and in view of Etihad's position, "despite the significant cash crunch and imminent grounding, which the airline is facing". Goyal said he is committed to an "infusion of funds into the company to the extent of Rs 700 crore" and pledging all his shares. This is subject to the condition that his shareholding post such infusion is at least 25 per cent, he said in the letter which was seen by PTI. According to Jet Airways' shareholding pattern on BSE, as of the quarter ending December 2018, Goyal owns 5,79,33,665 shares, amounting to 51 per cent stake in the company.

Jet Airways shares fall further; plunge over 5%

Jet Airways Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent.

Goyal's offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier.

In a letter to SBI Chairman Rajnish Kumar, Goyal said he is writing with reference to the resolution plan under discussion and in view of Etihad's position, "despite the significant cash crunch and imminent grounding, which the airline is facing".

Goyal said he is committed to an "infusion of funds into the company to the extent of Rs 700 crore" and pledging all his shares.

This is subject to the condition that his shareholding post such infusion is at least 25 per cent, he said in the letter which was seen by PTI.

"Should this not be possible, then I would not be able to infuse any funds or pledge my shares unless Sebi accords me an exemption permitting me to increase my reduced stake (if it is to be below 25 per cent) without triggering the Takeover Code," as per the letter.

When shareholding of an entity in a listed company goes beyond a certain threshold, then the open offer requirement is triggered under Sebi's Takeover Code.

SBI is the lead lender of a consortium of Indian banks that have provided loans to the airline; and the stakeholders are considering a resolution for Jet Airways, which is facing acute financial problems.&nbsp;

Jet Airways Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent.

Jet Airways Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent. Goyal's offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier. In a letter to SBI Chairman Rajnish Kumar, Goyal said he is writing with reference to the resolution plan under discussion and in view of Etihad's position, "despite the significant cash crunch and imminent grounding, which the airline is facing". Goyal said he is committed to an "infusion of funds into the company to the extent of Rs 700 crore" and pledging all his shares. This is subject to the condition that his shareholding post such infusion is at least 25 per cent, he said in the letter which was seen by PTI. "Should this not be possible, then I would not be able to infuse any funds or pledge my shares unless Sebi accords me an exemption permitting me to increase my reduced stake (if it is to be below 25 per cent) without triggering the Takeover Code," as per the letter. When shareholding of an entity in a listed company goes beyond a certain threshold, then the open offer requirement is triggered under Sebi's Takeover Code. SBI is the lead lender of a consortium of Indian banks that have provided loans to the airline; and the stakeholders are considering a resolution for Jet Airways, which is facing acute financial problems.

Ready to infuse up to Rs 700 crore in Jet Airways subject to conditions, says Naresh Goyal

<a href="http://www.wionews.com/business-economy/timeline-debt-laden-jet-airways-rocky-ride-189644">Shares in India's Jet Airways</a> jumped over 18 per cent on Monday after a report that founder and chairman Naresh Goyal was likely to step down from the board of the embattled company and give up majority control.

CNBC TV18, citing sources, reported on Monday that Jet was likely to finalise a resolution plan with its lenders this week, and that Goyal would trim his 51 per cent stake to 20-25 per cent and agree to the voting rights on his stake being capped at 10 per cent, in a bid to save the debt-laden carrier.

The report also said Etihad may infuse capital into Jet and raise its stake from the 24 per cent it currently owns.

Jet and Goyal did not immediately respond to emails seeking comment.

Cash-strapped Jet early in the month said it had defaulted on debt payments to a consortium of Indian banks and that it was in talks with the consortium led by State Bank of India.

The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors, and vendors. Intense pricing competition, a weak rupee and rising fuel costs weighed on Indian airlines in 2018.

Last week, Reuters reported that crisis talks between Jet and aircraft lessors had failed to ease the row over late payments, prompting some lessors to explore repossessing their aircraft. 
&nbsp;

The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors, and vendors. Intense pricing competition, a weak rupee and rising fuel costs weighed on Indian airlines in 2018.

Shares in India's Jet Airways jumped over 18 per cent on Monday after a report that founder and chairman Naresh Goyal was likely to step down from the board of the embattled company and give up majority control. CNBC TV18, citing sources, reported on Monday that Jet was likely to finalise a resolution plan with its lenders this week, and that Goyal would trim his 51 per cent stake to 20-25 per cent and agree to the voting rights on his stake being capped at 10 per cent, in a bid to save the debt-laden carrier. The report also said Etihad may infuse capital into Jet and raise its stake from the 24 per cent it currently owns. Jet and Goyal did not immediately respond to emails seeking comment. Cash-strapped Jet early in the month said it had defaulted on debt payments to a consortium of Indian banks and that it was in talks with the consortium led by State Bank of India. The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors, and vendors. Intense pricing competition, a weak rupee and rising fuel costs weighed on Indian airlines in 2018. Last week, Reuters reported that crisis talks between Jet and aircraft lessors had failed to ease the row over late payments, prompting some lessors to explore repossessing their aircraft.

Jet Airways shares jump after report chairman Naresh Goyal likely to step down

Jet Airways Ltd, India's biggest full-service carrier, has been under dark clouds for the most part of the past year, and several efforts are on to save the sinking airline.

While intense pricing competition, weak rupee and rising fuel costs have hurt Indian airlines like IndiGo owned by InterGlobe Aviation Ltd and SpiceJet Ltd, Jet Airways is in a league of its own.

Saddled with a debt of about 80.52 billion rupees ($1.14 billion) as of September 30, Jet is desperately searching for a deal that could help mitigate its severe liquidity crunch. The airline has a market capitalisation of 28.81 billion rupees as of Friday's close.

Here's how Jet has fared:

May 3 – Jet shares fall 12.3 per cent after InterGlobe Aviation reported a slump in net profit for March-quarter a day earlier

May 23 - Jet posts first quarterly loss in at least 12 quarters, says it has a negative net worth that 'may create uncertainties'

Aug 1 – Media report says Jet asked employees to take an up to 25 percent cut in salaries as a part of a cost cutting measure

Aug 3 – Jet denies report that it cannot fly beyond 60 days, and dismisses conjecture of stake sale

Aug 9 – Airline defers board meet for first-quarter results

Aug 11 – After State Bank of India chairman says Jet's loan is on the bank's watch list, Jet says it is regular in payment obligations to all banks

Aug 13 – Airline reaffirms that it is considering various options to meet its funding requirements

Aug 15 – Report says U.S. private equity firm Blackstone Group LP is in talks to buy a stake in Jet's frequent-flier loyalty programme JetPrivilege

Aug 20 - Sources tell Reuters that private equity firm TPG Capital is considering investing in Jet, but is not close to finalising a deal

Aug 27 – Jet posts loss for the June-quarter, says it will inject funds and cut costs by more than 20 billion rupees in two years

Sept 4 – Government plans relief package for airlines

Sept 6 – Jet says it paid salaries to 84 per cent of its employees after reports emerge that pilots warned 'non-cooperation' over salary default

Sept 20 – Income Tax department conducts survey at Jet's premises

• Over two dozen passengers on a Jet flight are treated for minor injuries after the plane loses cabin pressure

Oct 4 – Rating agency ICRA downgrades the company's long term loans and NCDs, citing impact of steep increase in jet fuel prices, rupee depreciation, delay in implementation of liquidity initiatives

Oct 18 – Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report "speculative"

Oct 30 - U.S.-based Delta Air Lines Inc expresses interest to buy Jet stake from promoter Naresh Goyal and Etihad Airways

Nov 5 – Report says Tata aims to buy the 51 per cent stake in the airline owned by Naresh Goyal, and Etihad Airways' 24 per cent stake, and merge Jet with Vistara

Nov 12 – Jet posts third straight quarterly loss, chief executive officer Vinay Dube expresses confidence in overcoming current challenges

Nov 13 – Tata Sons begins due diligence to buy Jet, reports say

Jet executive says company is in talks with multiple parties for a stake sale in its loyalty program, and equity infusion in the airline

Nov 15 – Shares surge nearly 25 per cent following reports that the debt-laden airline was nearing a rescue deal with Tata Sons; another report says the Indian government asked Tata to explore buying Jet

Nov 16 – Tata Sons says discussions on Jet is preliminary and no proposal has been made

Nov 20 – Tata Sons may go slow on Jet deal after some directors from Tata's board expressed concerns, according to media reports

Nov 21 - The airline says news on Naresh Goyal, Etihad discussing merger of JetPrivilege with Jet Airways is speculative

Nov 22 - Independent director Ranjan Mathai resigns, citing rising pressure from other commitments

Nov 26 - Report says Naresh Goyal may hand over Jet Airways ops to Etihad Airways

Dec 3 - Jet says it will stop providing free meals to most domestic economy class passengers from January, in its latest move to cut costs and boost revenues

Dec 5 - Jet and Etihad Airways have been holding rescue talks with Jet's bankers, sources tell Reuters

Dec 6 - Jet tells its pilot union it will clear all salary dues by April, and gives them schedule outlining when the payments will be made, source tells Reuters

Dec 7 - ICRA cuts Jet rating yet again, cites delays in implementation of the proposed liquidity initiatives by Jet's management

Dec 14 - Goyal's penchant for control has come up as a major obstacle as the airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years tell Reuters

Jan 2 - The airline says it has delayed payment to a consortium of Indian banks, led by SBI; ICRA cuts rating again

Jan 10 - Jet proposes to creditors that it will catch up with debt payments in arrears by September and from April will meet debt payments as they come due, according to a document seen by Reuters

Jan 11 - Crisis talks between Jet and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter tell Reuters. Etihad is not "in any position to sink new equity into Jet at this juncture," says a person familiar with Etihad's position.

Jet Airways Ltd, India's biggest full-service carrier, has been under dark clouds for the most part of the past year, and several efforts are on to save the sinking airline.

Jet Airways Ltd, India's biggest full-service carrier, has been under dark clouds for the most part of the past year, and several efforts are on to save the sinking airline. While intense pricing competition, weak rupee and rising fuel costs have hurt Indian airlines like IndiGo owned by InterGlobe Aviation Ltd and SpiceJet Ltd, Jet Airways is in a league of its own. Saddled with a debt of about 80.52 billion rupees ($1.14 billion) as of September 30, Jet is desperately searching for a deal that could help mitigate its severe liquidity crunch. The airline has a market capitalisation of 28.81 billion rupees as of Friday's close. Here's how Jet has fared: May 3 – Jet shares fall 12.3 per cent after InterGlobe Aviation reported a slump in net profit for March-quarter a day earlier May 23 - Jet posts first quarterly loss in at least 12 quarters, says it has a negative net worth that 'may create uncertainties' Aug 1 – Media report says Jet asked employees to take an up to 25 percent cut in salaries as a part of a cost cutting measure Aug 3 – Jet denies report that it cannot fly beyond 60 days, and dismisses conjecture of stake sale Aug 9 – Airline defers board meet for first-quarter results Aug 11 – After State Bank of India chairman says Jet's loan is on the bank's watch list, Jet says it is regular in payment obligations to all banks Aug 13 – Airline reaffirms that it is considering various options to meet its funding requirements Aug 15 – Report says U.S. private equity firm Blackstone Group LP is in talks to buy a stake in Jet's frequent-flier loyalty programme JetPrivilege Aug 20 - Sources tell Reuters that private equity firm TPG Capital is considering investing in Jet, but is not close to finalising a deal Aug 27 – Jet posts loss for the June-quarter, says it will inject funds and cut costs by more than 20 billion rupees in two years Sept 4 – Government plans relief package for airlines Sept 6 – Jet says it paid salaries to 84 per cent of its employees after reports emerge that pilots warned 'non-cooperation' over salary default Sept 20 – Income Tax department conducts survey at Jet's premises • Over two dozen passengers on a Jet flight are treated for minor injuries after the plane loses cabin pressure Oct 4 – Rating agency ICRA downgrades the company's long term loans and NCDs, citing impact of steep increase in jet fuel prices, rupee depreciation, delay in implementation of liquidity initiatives Oct 18 – Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report "speculative" Oct 30 - U.S.-based Delta Air Lines Inc expresses interest to buy Jet stake from promoter Naresh Goyal and Etihad Airways Nov 5 – Report says Tata aims to buy the 51 per cent stake in the airline owned by Naresh Goyal, and Etihad Airways' 24 per cent stake, and merge Jet with Vistara Nov 12 – Jet posts third straight quarterly loss, chief executive officer Vinay Dube expresses confidence in overcoming current challenges Nov 13 – Tata Sons begins due diligence to buy Jet, reports say Jet executive says company is in talks with multiple parties for a stake sale in its loyalty program, and equity infusion in the airline Nov 15 – Shares surge nearly 25 per cent following reports that the debt-laden airline was nearing a rescue deal with Tata Sons; another report says the Indian government asked Tata to explore buying Jet Nov 16 – Tata Sons says discussions on Jet is preliminary and no proposal has been made Nov 20 – Tata Sons may go slow on Jet deal after some directors from Tata's board expressed concerns, according to media reports Nov 21 - The airline says news on Naresh Goyal, Etihad discussing merger of JetPrivilege with Jet Airways is speculative Nov 22 - Independent director Ranjan Mathai resigns, citing rising pressure from other commitments Nov 26 - Report says Naresh Goyal may hand over Jet Airways ops to Etihad Airways Dec 3 - Jet says it will stop providing free meals to most domestic economy class passengers from January, in its latest move to cut costs and boost revenues Dec 5 - Jet and Etihad Airways have been holding rescue talks with Jet's bankers, sources tell Reuters Dec 6 - Jet tells its pilot union it will clear all salary dues by April, and gives them schedule outlining when the payments will be made, source tells Reuters Dec 7 - ICRA cuts Jet rating yet again, cites delays in implementation of the proposed liquidity initiatives by Jet's management Dec 14 - Goyal's penchant for control has come up as a major obstacle as the airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years tell Reuters Jan 2 - The airline says it has delayed payment to a consortium of Indian banks, led by SBI; ICRA cuts rating again Jan 10 - Jet proposes to creditors that it will catch up with debt payments in arrears by September and from April will meet debt payments as they come due, according to a document seen by Reuters Jan 11 - Crisis talks between Jet and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter tell Reuters. Etihad is not "in any position to sink new equity into Jet at this juncture," says a person familiar with Etihad's position.

Timeline: Debt-laden Jet Airways' rocky ride

Crisis talks between India's cash-strapped Jet Airways Ltd and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter told Reuters.

In what one of the people described as an ill-tempered showdown between the airline and some of the world's leading leasing firms, Jet's main lender State Bank of India sought to provide reassurance that India's biggest full-service carrier is doing all it can to pay its staff, suppliers and creditors.

"Jet has been delinquent for many months. Nobody wants to get in a situation where the problems worsen and it becomes even more difficult to take out aircraft," one of the people said.

Jet controls over a sixth of a market experiencing an unprecedented boom in air travel. Yet high fuel taxes, a weak rupee and price competition have squeezed profitability, leaving Jet with 80.52 billion rupees ($1.14 billion) in net debt as at the end of September and defaulting on payments.

The airline had previously told some lessors it would clear arrears by Dec. 31, but was unable do so, the people close to the matter said.

At meetings on Tuesday, held at SBI's headquarters in Mumbai's business district, the bank's Chairman Rajnish Kumar was asked how Jet planned to raise equity or debt, said one of the people - an attendee, who found the responses lacked sufficient detail.

Other attendees included Jet's management team, including the airline's founder and Chairman Naresh Goyal, as well as a senior adviser of Etihad Airways, which owns 24 per cent of Jet and which did not provide any assurances, the person said.

An official from Punjab National Bank later said lenders have "in-principle" agreed to extend some help to Jet, but details on the mechanics of it are still being worked out.

Some lessors have engaged with lawyers, are working with their technical teams about repossession and are monitoring the planes, but the situation could be complicated by a new bankruptcy law that allows up to 270 days where no action is permitted against the debtor or its assets, the person said.

Lessors such as GE Capital Aviation Services (GECAS) SMBC Aviation Capital and Jackson Square are looking into stopping the transfer of Boeing Co 737 MAX jets that had been due for delivery to Jet, the person said.

A second person said deliveries of 737 MAX jets from lessors had been behind schedule since November.

Avolon, DAE Aerospace, BOC Aviation Ltd and Aircastle Ltd also attended the meetings along with GECAS and SMBC, one of the people said, declining to specify which are considering reclaiming planes.

Jet Airways, in a statement on Friday, said the airline is working on its turnaround strategy and updating its partners, in real time, on efforts taken to improve its liquidity.

"A comprehensive plan that will ensure business sustainability, preserve value, and enable the company to honour its obligations was outlined," a Jet spokesman said in the statement, adding that the meeting took place in an atmosphere of cordiality and mutual appreciation.

The turnaround plan involves creating a competitive cost structure and restructuring the balance sheet, among other things, and is expected to "deliver a positive impact on the financials of the company," he said.

SBI and SMBC Aviation did not immediately respond to requests for comment. DAE Aerospace, GECAS, Aircastle and Jackson Square did not respond outside of regular business hours. Etihad, BOC Aviation and Avolon declined to comment.

The people familiar with the talks were not authorised to speak publicly on the matter and so declined to be identified.

Financial help

Jet, controlled by Goyal, has turned to Etihad for financial help. However, the Abu Dhabi airline is not "in any position to sink new equity into Jet at this juncture," said a person familiar with Etihad's position.

Etihad posted a "significant loss" at the end of last year that would continue into 2019, according to an internal memo seen by sources on Thursday. The memo also showed 50 pilots would lose their jobs as the airline cut costs.

Jet held talks with Indian conglomerate Tata Sons Ltd about financial aid last year. Sources told Reuters that Goyal ended the talks because Tata would have wanted him to step down or take a less prominent role.

A source close to Tata on Thursday said there had been no recent engagement with Jet and doing so was "extremely unlikely" because Tata people had "moved on internally".

Tata Sons declined to comment on Friday.

Repossession

After the disorderly collapse of Kingfisher Airlines in 2012, India modified rules in line with the Cape Town convention, an international treaty making it easier for foreign owners to repossess aircraft when airlines default on payments.

Lessors can file a complaint with the government which has the power to cancel the registration of a plane within five working days and allow lessors to repossess it subject to certain conditions, including unpaid dues on the aircraft.

Some laws conflict with full implementation of the convention and the government in October said it was consulting to revise those laws - a move that could reduce lease rates for Indian carriers. Nevertheless, the ability to repossess a plane can be a more complicated process in India than in some other countries.

On Tuesday, Jet proposed to creditors that it would catch up with debt payments in arrears as of September, and from April meet debt payments as they come due, showed a document seen by Reuters.

Jet's debt payments will be large over the next few years, starting with about 17 billion rupees due by March-end, credit-ratings firm ICRA said in a Jan. 2 research note.

Crisis talks between India's cash-strapped Jet Airways Ltd and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter told Reuters.

Crisis talks between India's cash-strapped Jet Airways Ltd and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter told Reuters. In what one of the people described as an ill-tempered showdown between the airline and some of the world's leading leasing firms, Jet's main lender State Bank of India sought to provide reassurance that India's biggest full-service carrier is doing all it can to pay its staff, suppliers and creditors. "Jet has been delinquent for many months. Nobody wants to get in a situation where the problems worsen and it becomes even more difficult to take out aircraft," one of the people said. Jet controls over a sixth of a market experiencing an unprecedented boom in air travel. Yet high fuel taxes, a weak rupee and price competition have squeezed profitability, leaving Jet with 80.52 billion rupees ($1.14 billion) in net debt as at the end of September and defaulting on payments. The airline had previously told some lessors it would clear arrears by Dec. 31, but was unable do so, the people close to the matter said. At meetings on Tuesday, held at SBI's headquarters in Mumbai's business district, the bank's Chairman Rajnish Kumar was asked how Jet planned to raise equity or debt, said one of the people - an attendee, who found the responses lacked sufficient detail. Other attendees included Jet's management team, including the airline's founder and Chairman Naresh Goyal, as well as a senior adviser of Etihad Airways, which owns 24 per cent of Jet and which did not provide any assurances, the person said. An official from Punjab National Bank later said lenders have "in-principle" agreed to extend some help to Jet, but details on the mechanics of it are still being worked out. Some lessors have engaged with lawyers, are working with their technical teams about repossession and are monitoring the planes, but the situation could be complicated by a new bankruptcy law that allows up to 270 days where no action is permitted against the debtor or its assets, the person said. Lessors such as GE Capital Aviation Services (GECAS) SMBC Aviation Capital and Jackson Square are looking into stopping the transfer of Boeing Co 737 MAX jets that had been due for delivery to Jet, the person said. A second person said deliveries of 737 MAX jets from lessors had been behind schedule since November. Avolon, DAE Aerospace, BOC Aviation Ltd and Aircastle Ltd also attended the meetings along with GECAS and SMBC, one of the people said, declining to specify which are considering reclaiming planes. Jet Airways, in a statement on Friday, said the airline is working on its turnaround strategy and updating its partners, in real time, on efforts taken to improve its liquidity. "A comprehensive plan that will ensure business sustainability, preserve value, and enable the company to honour its obligations was outlined," a Jet spokesman said in the statement, adding that the meeting took place in an atmosphere of cordiality and mutual appreciation. The turnaround plan involves creating a competitive cost structure and restructuring the balance sheet, among other things, and is expected to "deliver a positive impact on the financials of the company," he said. SBI and SMBC Aviation did not immediately respond to requests for comment. DAE Aerospace, GECAS, Aircastle and Jackson Square did not respond outside of regular business hours. Etihad, BOC Aviation and Avolon declined to comment. The people familiar with the talks were not authorised to speak publicly on the matter and so declined to be identified. Financial help Jet, controlled by Goyal, has turned to Etihad for financial help. However, the Abu Dhabi airline is not "in any position to sink new equity into Jet at this juncture," said a person familiar with Etihad's position. Etihad posted a "significant loss" at the end of last year that would continue into 2019, according to an internal memo seen by sources on Thursday. The memo also showed 50 pilots would lose their jobs as the airline cut costs. Jet held talks with Indian conglomerate Tata Sons Ltd about financial aid last year. Sources told Reuters that Goyal ended the talks because Tata would have wanted him to step down or take a less prominent role. A source close to Tata on Thursday said there had been no recent engagement with Jet and doing so was "extremely unlikely" because Tata people had "moved on internally". Tata Sons declined to comment on Friday. Repossession After the disorderly collapse of Kingfisher Airlines in 2012, India modified rules in line with the Cape Town convention, an international treaty making it easier for foreign owners to repossess aircraft when airlines default on payments. Lessors can file a complaint with the government which has the power to cancel the registration of a plane within five working days and allow lessors to repossess it subject to certain conditions, including unpaid dues on the aircraft. Some laws conflict with full implementation of the convention and the government in October said it was consulting to revise those laws - a move that could reduce lease rates for Indian carriers. Nevertheless, the ability to repossess a plane can be a more complicated process in India than in some other countries. On Tuesday, Jet proposed to creditors that it would catch up with debt payments in arrears as of September, and from April meet debt payments as they come due, showed a document seen by Reuters. Jet's debt payments will be large over the next few years, starting with about 17 billion rupees due by March-end, credit-ratings firm ICRA said in a Jan. 2 research note.

Lessors to troubled Jet Airways consider taking back planes: Report

A Jet Airways passenger J Poddar was detained by the CISF at Kolkata's&nbsp;Netaji Subhas Chandra Bose Airport for a threat to plane on Monday.&nbsp;

According to reports, Poddar, who was travelling on Kolkata-Mumbai Jet Airways flight, was reportedly speaking on the phone threatening to blow up the plane, news agency ANI reported.&nbsp;

It was later reported that a co-passenger spotted Poddar sending an image of a masked man on Snapchat and some text suggesting a terror threat to the plane. The alarmed passenger informed the crew cabin after which the take-off was halted and Poddar was detained.&nbsp;

Poddar has been handed over to police custody by the CISF, ANI reported.&nbsp;

Reportedly, Poddar's father claims that he was just joking with his friends. However, the authorities are still investigating the matter.&nbsp;

Podder is reported to be around 21 years old, a resident of Kolkata.&nbsp;

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<a href="https://twitter.com/hashtag/Visuals?src=hash&amp;ref_src=twsrc%5Etfw">#Visuals</a> from Kolkata: A passenger J Poddar travelling on Kolkata-Mumbai Jet Airways flight was apprehended at Kolkata airport by CISF today. He was reportedly speaking on the phone threatening to blow up the plane. <a href="https://twitter.com/hashtag/WestBengal?src=hash&amp;ref_src=twsrc%5Etfw">#WestBengal</a> <a href="https://t.co/nBZ3v1J8yW">pic.twitter.com/nBZ3v1J8yW</a>
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The incident comes a month after <a href="http://www.wionews.com/india-news/hijack-scare-on-kandahar-bound-plane-at-delhi-airport-176565">a hijack scare on a Kandahar-bound flight</a> sent security officials at the Delhi airport into tizzy.&nbsp;

According to reports, the pilot "mistakenly" pressed the 'hijack button' when it was taxiing for take-off, news agency PTI reported.

The Ariana Afghan Airlines plane took off nearly two hours later after "satisfactory" security checks.&nbsp;

(With inputs from agencies)&nbsp;

A Jet Airways passenger J Poddar was detained by the CISF at Kolkata's Netaji Subhas Chandra Bose Airport for a threat to plane on Monday. According to reports, Poddar, who was travelling on Kolkata-Mumbai Jet Airways flight, was reportedly speaking on the phone threatening to blow up the plane, news agency ANI reported.

A Jet Airways passenger J Poddar was detained by the CISF at Kolkata's Netaji Subhas Chandra Bose Airport for a threat to plane on Monday. According to reports, Poddar, who was travelling on Kolkata-Mumbai Jet Airways flight, was reportedly speaking on the phone threatening to blow up the plane, news agency ANI reported. It was later reported that a co-passenger spotted Poddar sending an image of a masked man on Snapchat and some text suggesting a terror threat to the plane. The alarmed passenger informed the crew cabin after which the take-off was halted and Poddar was detained. Poddar has been handed over to police custody by the CISF, ANI reported. Reportedly, Poddar's father claims that he was just joking with his friends. However, the authorities are still investigating the matter. Podder is reported to be around 21 years old, a resident of Kolkata. #Visuals from Kolkata: A passenger J Poddar travelling on Kolkata-Mumbai Jet Airways flight was apprehended at Kolkata airport by CISF today. He was reportedly speaking on the phone threatening to blow up the plane. #WestBengal pic.twitter.com/nBZ3v1J8yW — ANI (@ANI) November 26, 2018 × The incident comes a month after a hijack scare on a Kandahar-bound flight sent security officials at the Delhi airport into tizzy. According to reports, the pilot "mistakenly" pressed the 'hijack button' when it was taxiing for take-off, news agency PTI reported. The Ariana Afghan Airlines plane took off nearly two hours later after "satisfactory" security checks. (With inputs from agencies)

Passenger detained at Kolkata airport for texting terrorist is on plane

Virtually ruling out possibility of bailout package for crisis-hit Jet Airways, Civil Aviation Minister Suresh Prabhu Monday said it is for private airlines' boards and managements to ensure that they function properly and take appropriate measures depending on prevailing market conditions.

The Civil Aviation Ministry has also decided not to intervene with respect to Jet Airways' request seeking more time for making payments to airport operators, according to a senior official.

Jet Airways has been grappling with financial woes that has also resulted in the full-service carrier delaying payment of salaries to staff, including pilots. The airline posted a loss of Rs 1,261 crore in the three months ended September.

Responding to queries related to Jet Airways, including possible bailout package, Prabhu said that in a deregulated atmosphere, the ministry's endeavour is to deal with sector-specific issues.

"For a private airline, it is for the board of directors and their management to ensure that the airline functions properly, that (they) have to take appropriate measures depending upon market conditions that will prevail from time to time," the minister said without directly mentioning Jet Airways.

Civil Aviation Secretary R N Choubey said the airline wanted some more lead time with regard to payments to airport operators but that was something to be done commercially between the two entities.

"That is something that they have to deal with airport operators. The ministry does not get into that.

"We don't get into commercial discussions between airlines and airport operators. It is to be done commercially between the two entities," Choubey said.

They were speaking at the sidelines of an event here.

On November 13, cash-strapped Jet Airways said it is at various stages of discussions with multiple "interested parties" for capital infusion and partial stake sale in its loyalty programme Jet Privilege.

The airline is looking for investors to tide over the liquidity crisis, which has resulted in delayed payments to some vendors and salaries to a section of its over 16,000 employees.&nbsp;

Virtually ruling out possibility of bailout package for crisis-hit Jet Airways, Civil Aviation Minister Suresh Prabhu Monday said it is for private airlines' boards and managements to ensure that they function properly and take appropriate measures depending on prevailing market conditions.

Virtually ruling out possibility of bailout package for crisis-hit Jet Airways, Civil Aviation Minister Suresh Prabhu Monday said it is for private airlines' boards and managements to ensure that they function properly and take appropriate measures depending on prevailing market conditions. The Civil Aviation Ministry has also decided not to intervene with respect to Jet Airways' request seeking more time for making payments to airport operators, according to a senior official. Jet Airways has been grappling with financial woes that has also resulted in the full-service carrier delaying payment of salaries to staff, including pilots. The airline posted a loss of Rs 1,261 crore in the three months ended September. Responding to queries related to Jet Airways, including possible bailout package, Prabhu said that in a deregulated atmosphere, the ministry's endeavour is to deal with sector-specific issues. "For a private airline, it is for the board of directors and their management to ensure that the airline functions properly, that (they) have to take appropriate measures depending upon market conditions that will prevail from time to time," the minister said without directly mentioning Jet Airways. Civil Aviation Secretary R N Choubey said the airline wanted some more lead time with regard to payments to airport operators but that was something to be done commercially between the two entities. "That is something that they have to deal with airport operators. The ministry does not get into that. "We don't get into commercial discussions between airlines and airport operators. It is to be done commercially between the two entities," Choubey said. They were speaking at the sidelines of an event here. On November 13, cash-strapped Jet Airways said it is at various stages of discussions with multiple "interested parties" for capital infusion and partial stake sale in its loyalty programme Jet Privilege. The airline is looking for investors to tide over the liquidity crisis, which has resulted in delayed payments to some vendors and salaries to a section of its over 16,000 employees.

Aviation minister says private airlines' management has to take appropriate steps amid Jet Airways crisis

Tata Sons Friday confirmed its interest in acquiring the beleaguered Jet Airways but said no concrete "proposal" has been made by the group so far.

The Tatas, which already run two carriers-- the full- service Vistara in a joint venture with Singapore Airlines (SIA) and AirAsia India in a similar arrangement with Malaysian carrier Air Asia--have widely speculated to be planning to acquire Naresh Goyal-controlled airline with it's the Singaporean partner.

"Over the last few days there has been growing speculation about Tata's interest in Jet Airways. We would like to clarify that any such discussions (to acquire Jet Airways) have been preliminary and no proposal has been made," Tata Sons said in a statement after a marathon five-hour board meeting at the headquarters here.

Addressing the analysts at the post-earnings concall, earlier this week, Jet Airways' deputy chief executive and chief financial officer Amit Agarwal had admitted that the airline was in talks with "multiple interested parties" for fund infusion as well as stake in its loyalty progarmme Jet Privilege.

Besides Goyal,who along with his family owns 51 per cent stake in the company, Gulf carrier Etihad Airways owns 24 per cent in the cash-strapped airline which has been delaying salaries and payments to vendors for many months now.

Media reports suggest that the parent company of Vistara, Tata Sons-Singapore Airlines, is looking at an all- stock merger of Jet Airways as part of the Tata group's plans to board Goyal's full service carrier, which is grappling with cash crunch and mounting losses.

The airline earlier this week reported a net loss of Rs 1,261 crore in the September quarter against a profit of Rs 71 crore y-o-y, making it the third straight quarters of heavy losses.

The two sides are reportedly inching towards a two- step transaction that would first see Jet merging with Tata- SIA joint venture through a share swap to form a new JV, which will have the Goyal family, Etihad, Tata Sons and Singapore Airlines as its partners. But a bone of contention is the Tatas' insistence on Goyal completely leaving the airline which he built 25 years ago.

However, in an exchange filing Thursday, Jet Airways described the media reports as speculative.

Reports also suggest in the eventuality of the Tata Group taking over Jet Airways, it might exit from AirAsia India, which has so far not been very aggressive in a market that has been clipping at 20 per cent on the back of a prolonged low-fare regime.

Jet, which along with its subsidiary JetLite flies 66 domestic and international destinations, has a combined fleet of 124 planes and enjoys 15.8 per cent market share, while Vistara, which has a low 3.8 per cent market share, on a fleet of 22 planes and flies to as many destinations.

On the other hand, AirAsia India accounts for just 4.4 per cent of the total domestic passenger traffic with a fleet of 19 planes. 
Besides, a merger of the two carriers will also allow Vistara will propel its plans to go international, which are currently reportedly stuck in the Rajiv Bhawan (which house civil aviation ministry) files.

Way back in 2008, the erstwhile Kingfisher Airlines had resorted to a similar move when it acquired the domestic low-cost pioneer Air Deccan to go international as it had not completed five years into domestic flying, which was mandatory for airlines at that time for overseas operations.

The merger talks have sent the Jet counter soaring over 40 per cent in the past five trading sessions alone. It soared over 26.41 per cent Thursday and rallied over 14 percent early Friday but closed with an over 8 per cent gain at Rs 346.85 on the BSE, whose index jumped 0.56 percent.

There are also rumours that the Tatas are being nudged by government. However, government has denied that it is brokering the deal or asked has bankers to take a haircut on Jet debt to sweeten the deal.

"The aviation ministry is not involved in this process so far. Hence any question of haircut (by banks and other stakeholders like Airports Authority) etc does not arise," aviation secretary RN Choubey told PTI Thursday.&nbsp;

Tata Sons Friday confirmed its interest in acquiring the beleaguered Jet Airways but said no concrete "proposal" has been made by the group so far. The Tatas, which already run two carriers-- the full- service Vistara in a joint venture with Singapore Airlines (SIA) and AirAsia India in a similar arrangement with Malaysian carrier Air Asia--have widely speculated to be planning to acquire Naresh Goyal-controlled airline with it's the Singaporean partner.

Tata Sons Friday confirmed its interest in acquiring the beleaguered Jet Airways but said no concrete "proposal" has been made by the group so far. The Tatas, which already run two carriers-- the full- service Vistara in a joint venture with Singapore Airlines (SIA) and AirAsia India in a similar arrangement with Malaysian carrier Air Asia--have widely speculated to be planning to acquire Naresh Goyal-controlled airline with it's the Singaporean partner. "Over the last few days there has been growing speculation about Tata's interest in Jet Airways. We would like to clarify that any such discussions (to acquire Jet Airways) have been preliminary and no proposal has been made," Tata Sons said in a statement after a marathon five-hour board meeting at the headquarters here. Addressing the analysts at the post-earnings concall, earlier this week, Jet Airways' deputy chief executive and chief financial officer Amit Agarwal had admitted that the airline was in talks with "multiple interested parties" for fund infusion as well as stake in its loyalty progarmme Jet Privilege. Besides Goyal,who along with his family owns 51 per cent stake in the company, Gulf carrier Etihad Airways owns 24 per cent in the cash-strapped airline which has been delaying salaries and payments to vendors for many months now. Media reports suggest that the parent company of Vistara, Tata Sons-Singapore Airlines, is looking at an all- stock merger of Jet Airways as part of the Tata group's plans to board Goyal's full service carrier, which is grappling with cash crunch and mounting losses. The airline earlier this week reported a net loss of Rs 1,261 crore in the September quarter against a profit of Rs 71 crore y-o-y, making it the third straight quarters of heavy losses. The two sides are reportedly inching towards a two- step transaction that would first see Jet merging with Tata- SIA joint venture through a share swap to form a new JV, which will have the Goyal family, Etihad, Tata Sons and Singapore Airlines as its partners. But a bone of contention is the Tatas' insistence on Goyal completely leaving the airline which he built 25 years ago. However, in an exchange filing Thursday, Jet Airways described the media reports as speculative. Reports also suggest in the eventuality of the Tata Group taking over Jet Airways, it might exit from AirAsia India, which has so far not been very aggressive in a market that has been clipping at 20 per cent on the back of a prolonged low-fare regime. Jet, which along with its subsidiary JetLite flies 66 domestic and international destinations, has a combined fleet of 124 planes and enjoys 15.8 per cent market share, while Vistara, which has a low 3.8 per cent market share, on a fleet of 22 planes and flies to as many destinations. On the other hand, AirAsia India accounts for just 4.4 per cent of the total domestic passenger traffic with a fleet of 19 planes. Besides, a merger of the two carriers will also allow Vistara will propel its plans to go international, which are currently reportedly stuck in the Rajiv Bhawan (which house civil aviation ministry) files. Way back in 2008, the erstwhile Kingfisher Airlines had resorted to a similar move when it acquired the domestic low-cost pioneer Air Deccan to go international as it had not completed five years into domestic flying, which was mandatory for airlines at that time for overseas operations. The merger talks have sent the Jet counter soaring over 40 per cent in the past five trading sessions alone. It soared over 26.41 per cent Thursday and rallied over 14 percent early Friday but closed with an over 8 per cent gain at Rs 346.85 on the BSE, whose index jumped 0.56 percent. There are also rumours that the Tatas are being nudged by government. However, government has denied that it is brokering the deal or asked has bankers to take a haircut on Jet debt to sweeten the deal. "The aviation ministry is not involved in this process so far. Hence any question of haircut (by banks and other stakeholders like Airports Authority) etc does not arise," aviation secretary RN Choubey told PTI Thursday.

Tatas confirm in preliminary talks with Jet Airways for a deal

Jet Airways (India) Ltd, the country's biggest full-service carrier, posted its third straight quarterly loss on Monday, hurt by higher fuel expenses.

Losses came in at 12.97 billion rupees ($178.01 million) for the quarter ended September 30, compared with a profit of 496.3 million rupees a year earlier, the airline said.

Fuel expenses jumped 58.6 per cent to 24.20 billion rupees, while revenue from operations climbed 9.5 per cent.&nbsp;

Jet Airways (India) Ltd, the country's biggest full-service carrier, posted its third straight quarterly loss on Monday, hurt by higher fuel expenses. Losses came in at 12.

Jet Airways (India) Ltd, the country's biggest full-service carrier, posted its third straight quarterly loss on Monday, hurt by higher fuel expenses. Losses came in at 12.97 billion rupees ($178.01 million) for the quarter ended September 30, compared with a profit of 496.3 million rupees a year earlier, the airline said. Fuel expenses jumped 58.6 per cent to 24.20 billion rupees, while revenue from operations climbed 9.5 per cent.

Hurt by higher fuel expenses, Jet Airways posts third quarterly loss

Aviation regulator DGCA has asked Jet Airways and SpiceJet to take corrective action to address possible issues with their Boeing 737 MAX planes that could lead to "significant altitude loss" of the aircraft, a senior official said Thursday.

The latest directive follows advisories issued by the US watchdog Federal Aviation Administration (FAA) and Boeing after the crash of a Boeing 737 MAX plane operated by Indonesia's Lion Air last month.

Currently, Jet Airways and SpiceJet fly Boeing 737 MAX planes in India. Together, there are at least six such aircraft with the two carriers.

"Both the documents address erroneous high 'angle of attack' (AOA) sensor input and corrective action for the same as it has potential for repeated nose-down trim commands of horizontal stabiliser," a senior Directorate General of Civil Aviation (DGCA) official told PTI.

The official said if the condition is not addressed, it could cause the flight crew to have difficulty in controlling the airplane.

The condition can even lead to "excessive nose-down attitude, significant altitude loss, and possible impact with terrain," the official noted.

Based on the initial investigation of Lion Air aircraft accident, the FAA issued emergency airworthiness directive (AD) on November 7. Boeing released a bulletin about the issue on November 6.

The DGCA official said that within three days after receipt of FAA AD, changes to airplane flight manual have to be done, for procedures which have to be followed by flight crew.

"The DGCA has ensured that all Indian operators are aware of the FAA AD and have taken appropriate corrective action," he added.

Jet Airways, which has at least five MAX planes in its fleet, said these planes continue to fly in compliance with the AD issued by the manufacturer and the regulatory authorities.

"The airline is in contact with them and committed to implement all directives or advisories that may be published by either the manufacturer or DGCA as the safety of guests and crew is of paramount importance at Jet Airways," an airline spokesperson said.

Comments from SpiceJet was awaited. Together, the two airlines have placed orders for more than 400 Boeing 737 MAX aircraft.

On November 6, Boeing said it had issued an Operations Manual Bulletin (OMB) directing operators to existing flight crew procedures to address circumstances where there is erroneous input from an AOA sensor.

On October 30, Civil Aviation Minister Suresh Prabhu said the DGCA had been asked to look at engines and other issues related to airlines following the plane crash in Indonesia.

The DGCA had reviewed the performance of Boeing 737 MAX 8 planes operated by Jet Airways and SpiceJet. The review came a day after a Boeing 737 MAX 8 aircraft operated by Lion Air crashed into the sea shortly after taking off from Jakarta. There were more than 180 people on board.

The watchdog had also sought details about the plane crash from Boeing and FAA.

In September, the minister directed officials concerned to prepare a comprehensive safety audit plan, which involves assessment of safety parameters of all scheduled airlines, aerodromes, flying training schools and maintenance, repair and overhaul organisations (MROs).

Aviation regulator DGCA has asked Jet Airways and SpiceJet to take corrective action to address possible issues with their Boeing 737 MAX planes that could lead to "significant altitude loss" of the aircraft, a senior official said Thursday.

Aviation regulator DGCA has asked Jet Airways and SpiceJet to take corrective action to address possible issues with their Boeing 737 MAX planes that could lead to "significant altitude loss" of the aircraft, a senior official said Thursday. The latest directive follows advisories issued by the US watchdog Federal Aviation Administration (FAA) and Boeing after the crash of a Boeing 737 MAX plane operated by Indonesia's Lion Air last month. Currently, Jet Airways and SpiceJet fly Boeing 737 MAX planes in India. Together, there are at least six such aircraft with the two carriers. "Both the documents address erroneous high 'angle of attack' (AOA) sensor input and corrective action for the same as it has potential for repeated nose-down trim commands of horizontal stabiliser," a senior Directorate General of Civil Aviation (DGCA) official told PTI. The official said if the condition is not addressed, it could cause the flight crew to have difficulty in controlling the airplane. The condition can even lead to "excessive nose-down attitude, significant altitude loss, and possible impact with terrain," the official noted. Based on the initial investigation of Lion Air aircraft accident, the FAA issued emergency airworthiness directive (AD) on November 7. Boeing released a bulletin about the issue on November 6. The DGCA official said that within three days after receipt of FAA AD, changes to airplane flight manual have to be done, for procedures which have to be followed by flight crew. "The DGCA has ensured that all Indian operators are aware of the FAA AD and have taken appropriate corrective action," he added. Jet Airways, which has at least five MAX planes in its fleet, said these planes continue to fly in compliance with the AD issued by the manufacturer and the regulatory authorities. "The airline is in contact with them and committed to implement all directives or advisories that may be published by either the manufacturer or DGCA as the safety of guests and crew is of paramount importance at Jet Airways," an airline spokesperson said. Comments from SpiceJet was awaited. Together, the two airlines have placed orders for more than 400 Boeing 737 MAX aircraft. On November 6, Boeing said it had issued an Operations Manual Bulletin (OMB) directing operators to existing flight crew procedures to address circumstances where there is erroneous input from an AOA sensor. On October 30, Civil Aviation Minister Suresh Prabhu said the DGCA had been asked to look at engines and other issues related to airlines following the plane crash in Indonesia. The DGCA had reviewed the performance of Boeing 737 MAX 8 planes operated by Jet Airways and SpiceJet. The review came a day after a Boeing 737 MAX 8 aircraft operated by Lion Air crashed into the sea shortly after taking off from Jakarta. There were more than 180 people on board. The watchdog had also sought details about the plane crash from Boeing and FAA. In September, the minister directed officials concerned to prepare a comprehensive safety audit plan, which involves assessment of safety parameters of all scheduled airlines, aerodromes, flying training schools and maintenance, repair and overhaul organisations (MROs).

DGCA asks Jet Airways, SpiceJet to take action on sensor-related issues with Boeing 737 MAX planes 

The crisis-hit airline, Jet Airways, facing a severe cash crunch,&nbsp;told its staff that they met with pilots' representatives and are "working towards a solution which will be communicated in coming week," on Monday.

"We would like to apologise for the delayed payment of your salaries and appreciate your patience in this matter... We would like to inform you that we have met with pilots' representatives and are working towards a solution which will be communicated in coming week," the airline said in a statement.

The Mumbai-based full-service airline, partially owned by UAE national carrier Etihad Airways, has been facing <a href="http://www.wionews.com/business-economy/more-jet-airways-employees-hit-salary-default-169147">financial problems</a> for quite some time now.

The Naresh Goyal-controlled airline is struggling to mop up funds to meet its payment obligations, including salaries to its over 16,000-strong workforce.

Also read: <a href="http://www.wionews.com/india-news/it-department-finds-evidence-inflated-expenditure-jet-airways-166945">IT department finds evidence of inflated expenditure by Jet Airways</a>

On October 3, PTI reported citing sources that employees in A1-A5, O1 and O2 grade, or whose salaries are up to Rs 75,000 per month, were paid on October 1, while the rest of the staffers in the M1, M2, E1 and above grades have not been paid yet.

On September 6, the full-service airline informed senior employees that their salaries would be paid in two instalments till November.

The salaries for August was to be paid in two instalments 50 per cent by September 11 and the remaining by September 26.

Though the private carrier paid the first tranche on time, it could disburse only 50 per cent amount of the second instalment on the designated date and deferred the payment of rest 50 per cent to October 9.

(With inputs from PTI)

The crisis-hit airline, Jet Airways, facing a severe cash crunch, told its staff that they met with pilots' representatives and are "working towards a solution which will be communicated in coming week," on Monday.

The crisis-hit airline, Jet Airways, facing a severe cash crunch, told its staff that they met with pilots' representatives and are "working towards a solution which will be communicated in coming week," on Monday. "We would like to apologise for the delayed payment of your salaries and appreciate your patience in this matter... We would like to inform you that we have met with pilots' representatives and are working towards a solution which will be communicated in coming week," the airline said in a statement. The Mumbai-based full-service airline, partially owned by UAE national carrier Etihad Airways, has been facing financial problems for quite some time now. The Naresh Goyal-controlled airline is struggling to mop up funds to meet its payment obligations, including salaries to its over 16,000-strong workforce. Also read: IT department finds evidence of inflated expenditure by Jet Airways On October 3, PTI reported citing sources that employees in A1-A5, O1 and O2 grade, or whose salaries are up to Rs 75,000 per month, were paid on October 1, while the rest of the staffers in the M1, M2, E1 and above grades have not been paid yet. On September 6, the full-service airline informed senior employees that their salaries would be paid in two instalments till November. The salaries for August was to be paid in two instalments 50 per cent by September 11 and the remaining by September 26. Though the private carrier paid the first tranche on time, it could disburse only 50 per cent amount of the second instalment on the designated date and deferred the payment of rest 50 per cent to October 9. (With inputs from PTI)

Now, Jet airways apologises to staff over non-payment of salaries

After delaying salary to its pilots and engineers along with senior management, Jet Airways has now defaulted on the payment of September salary to other categories of employees as well, an airline source said Wednesday.&nbsp;

The Mumbai-based full-service airline, partially owned by UAE national carrier Etihad Airways, has been facing financial problems for quite some now.

The Naresh Goyal-controlled airline is struggling to mop up funds to meet its payment obligations, including salaries to it's over 16,000-strong workforce.

“We generally get our salary on the 1st of (every) month. Last month, the airline had paid to all employees except for senior management, pilots and engineers on time.

“But this time (September), they have failed to pay even to other categories of employees such as manager and above levels,” the source said.

The source said the employees in A1-A5, O1 and O2 grade, or whose salaries are up to Rs 75,000 per month, were paid on October 1, while the rest of the staffers in the M1, M2, E1 and above grades have not been paid yet.

A query sent to Jet Airways on the issue did not elicit a written response.

On September 6, the full-service airline informed senior employees that their salaries would be paid in two instalments till November.

The salaries for August was to be paid in two instalments 50 per cent by September 11 and the remaining by September 26.

Though the private carrier paid the first tranche on time, it could disburse only 50 per cent amount of the second instalment on the designated date and deferred the payment of rest 50 per cent to October 9.

After delaying salary to its pilots and engineers along with senior management, Jet Airways has now defaulted on the payment of September salary to other categories of employees as well, an airline source said Wednesday.

After delaying salary to its pilots and engineers along with senior management, Jet Airways has now defaulted on the payment of September salary to other categories of employees as well, an airline source said Wednesday. The Mumbai-based full-service airline, partially owned by UAE national carrier Etihad Airways, has been facing financial problems for quite some now. The Naresh Goyal-controlled airline is struggling to mop up funds to meet its payment obligations, including salaries to it's over 16,000-strong workforce. “We generally get our salary on the 1st of (every) month. Last month, the airline had paid to all employees except for senior management, pilots and engineers on time. “But this time (September), they have failed to pay even to other categories of employees such as manager and above levels,” the source said. The source said the employees in A1-A5, O1 and O2 grade, or whose salaries are up to Rs 75,000 per month, were paid on October 1, while the rest of the staffers in the M1, M2, E1 and above grades have not been paid yet. A query sent to Jet Airways on the issue did not elicit a written response. On September 6, the full-service airline informed senior employees that their salaries would be paid in two instalments till November. The salaries for August was to be paid in two instalments 50 per cent by September 11 and the remaining by September 26. Though the private carrier paid the first tranche on time, it could disburse only 50 per cent amount of the second instalment on the designated date and deferred the payment of rest 50 per cent to October 9.

More Jet Airways employees hit by salary default

A Hyderabad bound Jet Airways flight made an emergency landing at Indore airport after the crew encountered a technical glitch in the engine on Sunday, news agency ANI reported.&nbsp;

The flight, 9W 955,&nbsp;was carrying 96 passengers who were evacuated safely, the report added.

According to&nbsp;officials at Jet Airways, the engineering teams are currently inspecting the aircraft.&nbsp;

Last week, a Jet Airways flight was turned back to Mumbai mid-air after the crew forgot to select switch to <a href="http://www.wionews.com/india-news/watch-jet-airways-flight-returns-to-mumbai-after-passengers-suffer-nose-ear-bleeds--166780">maintain cabin pressure</a> leading to nose and ear bleeds in several passengers.&nbsp;

The passengers of the Mumbai-Jaipur 9W 697 flight also complained of a headache while 30 out of the total 166 suffered ear and nosebleeds. Oxygen masks were deployed.&nbsp;

A Hyderabad bound Jet Airways flight made an emergency landing at Indore airport after the crew encountered a technical glitch in the engine on Sunday, news agency ANI reported.

A Hyderabad bound Jet Airways flight made an emergency landing at Indore airport after the crew encountered a technical glitch in the engine on Sunday, news agency ANI reported. The flight, 9W 955, was carrying 96 passengers who were evacuated safely, the report added. According to officials at Jet Airways, the engineering teams are currently inspecting the aircraft. Last week, a Jet Airways flight was turned back to Mumbai mid-air after the crew forgot to select switch to maintain cabin pressure leading to nose and ear bleeds in several passengers. The passengers of the Mumbai-Jaipur 9W 697 flight also complained of a headache while 30 out of the total 166 suffered ear and nosebleeds. Oxygen masks were deployed.

Hyderabad-bound Jet flight makes emergency landing at Indore airport

A passenger was removed from an IndiGo flight on Monday after he tried to open the flight's cockpit to charge his phone; news agency ANI reported.

The flight bound for Kolkata was travelling from Mumbai airport.

The investigation is underway as flight crew handed over the man to Mumbai police.

Last week, a Jet Airways flight was&nbsp;turned back to Mumbai mid-air after the crew forgot to select switch to maintain cabin pressure leading to nose and ear bleeds in several passengers.

The passengers of the Mumbai-Jaipur 9W 697 flight also complained of a headache while 30 out of the total 166 suffered ear and nosebleeds. Oxygen masks were deployed.&nbsp;

The crew has been taken off duty and Aircraft Accident Investigation Bureau (AAIB) has started an investigation, the Directorate General of Civil Aviation (DGCA) informed, ANI reported.&nbsp;

The Ministry of Civil Aviation (MoCA) has sought a report from the Directorate General of Civil Aviation over the incident.

Taking cognisance of the matter, the MoCA said that the crew members who were on duty for the particular flight are being de-rostered on account of the incident.

Another major incident raised concerns over flight operations in India after an Ahmedabad-bound IndiGo flight suffered tyre burst while taking off from Mumbai airport.

All the 185 passengers on 6E 361, an A320 flight, were reported to be safe.

A passenger was removed from an IndiGo flight on Monday after he tried to open the flight's cockpit to charge his phone; news agency ANI reported. The flight bound for Kolkata was travelling from Mumbai airport.

A passenger was removed from an IndiGo flight on Monday after he tried to open the flight's cockpit to charge his phone; news agency ANI reported. The flight bound for Kolkata was travelling from Mumbai airport. The investigation is underway as flight crew handed over the man to Mumbai police. Last week, a Jet Airways flight was turned back to Mumbai mid-air after the crew forgot to select switch to maintain cabin pressure leading to nose and ear bleeds in several passengers. The passengers of the Mumbai-Jaipur 9W 697 flight also complained of a headache while 30 out of the total 166 suffered ear and nosebleeds. Oxygen masks were deployed. The crew has been taken off duty and Aircraft Accident Investigation Bureau (AAIB) has started an investigation, the Directorate General of Civil Aviation (DGCA) informed, ANI reported. The Ministry of Civil Aviation (MoCA) has sought a report from the Directorate General of Civil Aviation over the incident. Taking cognisance of the matter, the MoCA said that the crew members who were on duty for the particular flight are being de-rostered on account of the incident. Another major incident raised concerns over flight operations in India after an Ahmedabad-bound IndiGo flight suffered tyre burst while taking off from Mumbai airport. All the 185 passengers on 6E 361, an A320 flight, were reported to be safe.

IndiGo deboards passenger for trying to open cockpit to charge phone

A passenger sparked panic in mid-air when he tried to open a plane door, apparently mistaking it for the toilet, GoAir airline said.

<a href="http://www.wionews.com/india-news/watch-jet-airways-flight-returns-to-mumbai-after-passengers-suffer-nose-ear-bleeds--166780">Watch: Jet Airways flight returns to Mumbai after passengers suffer nose, ear bleeds</a>

The man was travelling on a GoAir flight from New Delhi to Patna on Saturday when he attempted to open the aircraft's rear exit, the carrier said.

"A co-passenger raised the alarm and he was intercepted by the crew," GoAir said in a statement emailed to AFP on Tuesday.

Reports said he was a first-time flier in his late 20s.&nbsp;

When fellow passengers asked him what he was doing he told them he "needed to use the washroom urgently and kept tugging at the exit door", reports said.

GoAir said the passenger was handed over to the authorities for further investigation after the plane arrived safely at its destination.

A spokesperson for the airline added that the man wouldn't have succeeded in opening the door anyway due to air pressure in the cabin.

The incident comes almost a week after a cockpit mix-up left more than 30 passengers on a Jet Airways plane bleeding from their ears and noses after the crew reportedly forgot to flick a switch regulating cabin air pressure.

The flight from Mumbai to Jaipur, which was carrying 166 passengers, had to turn back. Those affected were given medical attention while the flight crew was suspended pending an investigation.

A passenger sparked panic in mid-air when he tried to open a plane door, apparently mistaking it for the toilet, GoAir airline said. Watch: Jet Airways flight returns to Mumbai after passengers suffer nose, ear bleeds The man was travelling on a GoAir flight from New Delhi to Patna on Saturday when he attempted to open the aircraft's rear exit, the carrier said.

A passenger sparked panic in mid-air when he tried to open a plane door, apparently mistaking it for the toilet, GoAir airline said. Watch: Jet Airways flight returns to Mumbai after passengers suffer nose, ear bleeds The man was travelling on a GoAir flight from New Delhi to Patna on Saturday when he attempted to open the aircraft's rear exit, the carrier said. "A co-passenger raised the alarm and he was intercepted by the crew," GoAir said in a statement emailed to AFP on Tuesday. Reports said he was a first-time flier in his late 20s. When fellow passengers asked him what he was doing he told them he "needed to use the washroom urgently and kept tugging at the exit door", reports said. GoAir said the passenger was handed over to the authorities for further investigation after the plane arrived safely at its destination. A spokesperson for the airline added that the man wouldn't have succeeded in opening the door anyway due to air pressure in the cabin. The incident comes almost a week after a cockpit mix-up left more than 30 passengers on a Jet Airways plane bleeding from their ears and noses after the crew reportedly forgot to flick a switch regulating cabin air pressure. The flight from Mumbai to Jaipur, which was carrying 166 passengers, had to turn back. Those affected were given medical attention while the flight crew was suspended pending an investigation.

Mid-air scare as passenger mistakes exit door for toilet in GoAir flight

Jet Airways has said that they are extending full cooperation to the Directorate General of Civil Aviation (DGCA) in the investigation into the matter where a Jaipur-bound flight of the airline was forced to return to Mumbai after several passengers suffered nasal and ear bleeding.

In a statement, Jet Airways spokesperson said, "Jet Airways is extending full cooperation to the DGCA for the ongoing investigation of the event. Jet Airways regrets the inconvenience caused to its guests."

Meanwhile, the spokesperson also informed that the Jet Airways would continue to offer necessary medical care and attention to the concerned guests as required.

"Five guests who were referred to a hospital for additional medical check-up accompanied by the Jet Airways' Care team have since been released, post medical examination. The airline will continue to offer necessary medical care and attention to the concerned guests as required," the statement reads.

He added, "Following the air-turn back of Jet Airways' flight 9W 697 of 20th September 2018; 144 of the 166 guests of the original flight travelled to Jaipur via an alternative flight of the airline, while 17 of them wished to travel at another point in time."

This comes after a Jaipur-bound flight was turned back to Mumbai on Wednesday after several passengers suffered ear pain and nose-bleeds, during take-off due to a loss in cabin air pressure.

Subsequently, oxygen masks were deployed for the passengers on board.

The Mumbai-Jaipur flight with 166 passengers and five crew members on board landed safely in Mumbai and all the passengers were deplaned. Of the 166 people who were on board, 30 were affected and have been given treatment.

Jet Airways has said that they are extending full cooperation to the Directorate General of Civil Aviation (DGCA) in the investigation into the matter where a Jaipur-bound flight of the airline was forced to return to Mumbai after several passengers suffered nasal and ear bleeding.

Jet Airways has said that they are extending full cooperation to the Directorate General of Civil Aviation (DGCA) in the investigation into the matter where a Jaipur-bound flight of the airline was forced to return to Mumbai after several passengers suffered nasal and ear bleeding. In a statement, Jet Airways spokesperson said, "Jet Airways is extending full cooperation to the DGCA for the ongoing investigation of the event. Jet Airways regrets the inconvenience caused to its guests." Meanwhile, the spokesperson also informed that the Jet Airways would continue to offer necessary medical care and attention to the concerned guests as required. "Five guests who were referred to a hospital for additional medical check-up accompanied by the Jet Airways' Care team have since been released, post medical examination. The airline will continue to offer necessary medical care and attention to the concerned guests as required," the statement reads. He added, "Following the air-turn back of Jet Airways' flight 9W 697 of 20th September 2018; 144 of the 166 guests of the original flight travelled to Jaipur via an alternative flight of the airline, while 17 of them wished to travel at another point in time." This comes after a Jaipur-bound flight was turned back to Mumbai on Wednesday after several passengers suffered ear pain and nose-bleeds, during take-off due to a loss in cabin air pressure. Subsequently, oxygen masks were deployed for the passengers on board. The Mumbai-Jaipur flight with 166 passengers and five crew members on board landed safely in Mumbai and all the passengers were deplaned. Of the 166 people who were on board, 30 were affected and have been given treatment.

Mid-air scare: Jet Airways extends full cooperation to DGCA over probe

The Income Tax (IT) department has found evidence of inflated expenditure by Jet Airways in their survey carried out at the airline's Mumbai and Delhi offices.

The Mumbai Directorate of Income-Tax investigation wing had conducted the survey at four business premises of Jet Airways in the two cities.

A senior Income Tax official privy to the development told ANI: "We had found evidence of very high inflated expenditure bills during the survey. Jet Airways had shown too much expenditure while filling their returns to reduce the profitability of the company."

Following this, the IT department is verifying all the records to dig out information about the alleged financial irregularities and suspicious transactions of the Naresh Goyal-controlled Jet Airways.

According to sources, the IT officials are scrutinising the airline's records for the last four years to find out if there has been any syphoning of funds, and to also look at the issue of suspicious bogus expenses booked to group entities, if any.

The official revealed that the department decided to conduct the survey after Jet Airways deferred its quarterly result.

On September 19, the IT department had conducted a survey of Jet Airways for verification of its expenses.

The airlines have been in the spotlight since August 9, after it deferred its quarterly results amid differences with its auditors, leading to queries by stock exchanges and the market regulator.

The auditor did not modify its opinion and reiterated that the airline's future was dependent on raising capital and generating sustainable cash flows. Last month, Jet Airways had said that it would seek capital infusion and sell a stake in its loyalty programme, after reporting a net loss of Rs 13.26 billion in the April-June quarter of 2018-19.

The Income Tax (IT) department has found evidence of inflated expenditure by Jet Airways in their survey carried out at the airline's Mumbai and Delhi offices. The Mumbai Directorate of Income-Tax investigation wing had conducted the survey at four business premises of Jet Airways in the two cities.

The Income Tax (IT) department has found evidence of inflated expenditure by Jet Airways in their survey carried out at the airline's Mumbai and Delhi offices. The Mumbai Directorate of Income-Tax investigation wing had conducted the survey at four business premises of Jet Airways in the two cities. A senior Income Tax official privy to the development told ANI: "We had found evidence of very high inflated expenditure bills during the survey. Jet Airways had shown too much expenditure while filling their returns to reduce the profitability of the company." Following this, the IT department is verifying all the records to dig out information about the alleged financial irregularities and suspicious transactions of the Naresh Goyal-controlled Jet Airways. According to sources, the IT officials are scrutinising the airline's records for the last four years to find out if there has been any syphoning of funds, and to also look at the issue of suspicious bogus expenses booked to group entities, if any. The official revealed that the department decided to conduct the survey after Jet Airways deferred its quarterly result. On September 19, the IT department had conducted a survey of Jet Airways for verification of its expenses. The airlines have been in the spotlight since August 9, after it deferred its quarterly results amid differences with its auditors, leading to queries by stock exchanges and the market regulator. The auditor did not modify its opinion and reiterated that the airline's future was dependent on raising capital and generating sustainable cash flows. Last month, Jet Airways had said that it would seek capital infusion and sell a stake in its loyalty programme, after reporting a net loss of Rs 13.26 billion in the April-June quarter of 2018-19.

IT department finds evidence of inflated expenditure by Jet Airways

Low-cost carriers IndiGo and Air India Express have been ranked among the top five cheapest airlines in the world in providing international connectivity.

Air India Express, the wholly-owned subsidiary of state-run carrier Air India has been ranked second and the budget carrier IndiGo placed at fifth position in a Global Flight Pricing Report prepared by Melbourne-based Rome2rio -- a multimodal travel planning site.&nbsp

Two other Indian carriers also figured in the list. Jet Airways gained the 12th place followed by Air India at 13th position. 
 
The report compared 200 major airlines across continents by the average price per kilometer with Air Asia X taking the pole position.

Air India Express, mostly connecting Gulf countries and Singapore, has an average cost of USD 0.08 per km and IndiGo USD 0.10 per km. The latter connects Indian cities with Gulf countries besides Bangkok, Colombo and Kathmandu.&nbsp

AirAsia X at the top has an average of USD 0.07 per km.

The data was analysed by taking into account the economy class airfares displayed by Rome2rio during the first two months of this year, totalling some 1.5 million price points. The outcome of the report was released this month.

According to the report, four out of the top five cheapest airlines are in Asia.&nbsp

Indonesia AirAsia and the Primera Air are the other two to have been put in the top five. Etihad, Ryanair, Qantas, Wow Air and Virgin Australia were among the top ten affordable airlines. Wow Air had recently announced to connect Delhi with Europe and US cities through its hub in Reykjavik in Iceland from December 7 onwards, with the base price starting at Rs 13,499. 
 
None of the airlines from the UK or US found a place among the top 10 affordable airlines in the report.&nbsp

Air India Express, the wholly-owned subsidiary of state-run carrier Air India has been ranked second and the budget carrier IndiGo placed at fifth position in a Global Flight Pricing Report

Low-cost carriers IndiGo and Air India Express have been ranked among the top five cheapest airlines in the world in providing international connectivity. Air India Express, the wholly-owned subsidiary of state-run carrier Air India has been ranked second and the budget carrier IndiGo placed at fifth position in a Global Flight Pricing Report prepared by Melbourne-based Rome2rio -- a multimodal travel planning site. Two other Indian carriers also figured in the list. Jet Airways gained the 12th place followed by Air India at 13th position. The report compared 200 major airlines across continents by the average price per kilometer with Air Asia X taking the pole position. Air India Express, mostly connecting Gulf countries and Singapore, has an average cost of USD 0.08 per km and IndiGo USD 0.10 per km. The latter connects Indian cities with Gulf countries besides Bangkok, Colombo and Kathmandu. AirAsia X at the top has an average of USD 0.07 per km. The data was analysed by taking into account the economy class airfares displayed by Rome2rio during the first two months of this year, totalling some 1.5 million price points. The outcome of the report was released this month. According to the report, four out of the top five cheapest airlines are in Asia. Indonesia AirAsia and the Primera Air are the other two to have been put in the top five. Etihad, Ryanair, Qantas, Wow Air and Virgin Australia were among the top ten affordable airlines. Wow Air had recently announced to connect Delhi with Europe and US cities through its hub in Reykjavik in Iceland from December 7 onwards, with the base price starting at Rs 13,499. None of the airlines from the UK or US found a place among the top 10 affordable airlines in the report.

IndiGo, Air India Express among top 5 cheapest airlines in the world

In one of its first case, a 30-year-old Mumbai jeweller Birju Kishore Salla has become the first man to be put on a 'national no-fly list'.

The jeweller who usually travels in business class is said to be a repeat defaulter in airlines.&nbsp;

He was detained on October 30, 2017, for allegedly planting a note in the toilet of Mumbai-Delhi Jet Airways flight forcing the plane to make an emergency landing in Ahmedabad.&nbsp;

Following this, the airline has banned him from boarding their plane for five years.

A media report quoted a senior official of the Directorate General of Civil Aviation (DGCA) saying that this was the first case where an Indian plane had put someone on the no-fly list.

He added that the step was taken by Jet Airways after following due procedure.&nbsp;

He also said that it was the responsibility of the airline to inform other planes.

A media report stated that Salla had earlier carried a cockroach in a plane and blamed the airline.

He was detained on October 30, 2017, for allegedly planting a note in the toilet of Mumbai-Delhi Jet Airways flight forcing the plane to make an emergency landing in Ahmedabad

In one of its first case, a 30-year-old Mumbai jeweller Birju Kishore Salla has become the first man to be put on a 'national no-fly list'. The jeweller who usually travels in business class is said to be a repeat defaulter in airlines. He was detained on October 30, 2017, for allegedly planting a note in the toilet of Mumbai-Delhi Jet Airways flight forcing the plane to make an emergency landing in Ahmedabad. Following this, the airline has banned him from boarding their plane for five years. A media report quoted a senior official of the Directorate General of Civil Aviation (DGCA) saying that this was the first case where an Indian plane had put someone on the no-fly list. He added that the step was taken by Jet Airways after following due procedure. He also said that it was the responsibility of the airline to inform other planes. A media report stated that Salla had earlier carried a cockroach in a plane and blamed the airline.

Mumbai man becomes first to be put on 'no-fly list'

Indian airline carrier Jet Airways on Friday announced the launch of its first non-stop service between Mumbai and Manchester. The service will come into effect from November 5, 2018.

"This new service is the first non-stop service connecting India, via its economic capital with Manchester, the 3rd largest city in the UK," the airline said in a statement.

"Jet Airways will deploy its wide-body A330-200 with 254 seating for the service, which will operate for four days every week including Monday, Thursday, Saturday and Sunday."

The airline currently operates three daily, non-stop flights from Mumbai to London Heathrow and one daily, non-stop flight from Delhi to London Heathrow.&nbsp

Fares for a one-way trip to Manchester from Mumbai, under 'economy' class, start from as low as Rs 40,000. &nbsp

Jet Airways currently flies to 65 destinations across the world.&nbsp

Fares under 'Economy' class for Mumbai-Manchester, one-way trip, start from as low as Rs 40,000

Indian airline carrier Jet Airways on Friday announced the launch of its first non-stop service between Mumbai and Manchester. The service will come into effect from November 5, 2018. "This new service is the first non-stop service connecting India, via its economic capital with Manchester, the 3rd largest city in the UK," the airline said in a statement. "Jet Airways will deploy its wide-body A330-200 with 254 seating for the service, which will operate for four days every week including Monday, Thursday, Saturday and Sunday." The airline currently operates three daily, non-stop flights from Mumbai to London Heathrow and one daily, non-stop flight from Delhi to London Heathrow. Fares for a one-way trip to Manchester from Mumbai, under 'economy' class, start from as low as Rs 40,000. Jet Airways currently flies to 65 destinations across the world.

Jet Airways announces non-stop service between Mumbai and Manchester

Full-service carrier Jet Airways today offered fares starting as low as Rs 967 for the Udan flights which it plans to operate from next month.

The airline had yesterday announced the commencement of its operations under the government's regional connectivity scheme, Udan, from June 14 onwards, with the first flight to be operated on the Lucknow-Allahabad-Patna sector.

Jet Airways had bagged four routes in the second round of bidding in January, in which a total of 325 routes were awarded to various operators.

Besides Lucknow-Allahabad-Patna, the airline will also fly on the New Delhi-Nashik, Nagpur-Allahabad-Indore and Lucknow-Bareilly-Delhi routes.

The fares for the Lucknow-Allahabad-Patna flight under the Udan scheme will be Rs 967, while the flights on the Patna-Allahabad-Patna route will cost Rs 1,216, Jet Airways said in a release today.

Similarly, the ticket price for a trip on the Nagpur-Allahabad-Nagpur route has been pegged at Rs 1,690, while the Indore-Allahabad-Indore flight will cost Rs 1,914, the release added.

The fare for a Delhi-Nashik-Delhi flight will be Rs 2,665, it said.

With at least half of the seats in the Udan flights are offered at subsidised rates, the participating carriers get a certain amount of viability gap funding (VGF) - an amount shared between the Centre and the states concerned.

To fund the scheme, the civil aviation ministry is collecting a levy of Rs 5,000 per departure from airlines operating in major routes, including Mumbai and Delhi. 
The government had in March 2017 awarded 128 regional routes to five airlines for launching flights under the Udan (Ude Desh Ka Aam Naagrik) scheme, which aims at boosting air connectivity to the hinterland.

Under the scheme, the fares have been kept at Rs 2,500 for a one-hour journey.

Jet Airways plans to operate the flights from next month

Full-service carrier Jet Airways today offered fares starting as low as Rs 967 for the Udan flights which it plans to operate from next month. The airline had yesterday announced the commencement of its operations under the government's regional connectivity scheme, Udan, from June 14 onwards, with the first flight to be operated on the Lucknow-Allahabad-Patna sector. Jet Airways had bagged four routes in the second round of bidding in January, in which a total of 325 routes were awarded to various operators. Besides Lucknow-Allahabad-Patna, the airline will also fly on the New Delhi-Nashik, Nagpur-Allahabad-Indore and Lucknow-Bareilly-Delhi routes. The fares for the Lucknow-Allahabad-Patna flight under the Udan scheme will be Rs 967, while the flights on the Patna-Allahabad-Patna route will cost Rs 1,216, Jet Airways said in a release today. Similarly, the ticket price for a trip on the Nagpur-Allahabad-Nagpur route has been pegged at Rs 1,690, while the Indore-Allahabad-Indore flight will cost Rs 1,914, the release added. The fare for a Delhi-Nashik-Delhi flight will be Rs 2,665, it said. With at least half of the seats in the Udan flights are offered at subsidised rates, the participating carriers get a certain amount of viability gap funding (VGF) - an amount shared between the Centre and the states concerned. To fund the scheme, the civil aviation ministry is collecting a levy of Rs 5,000 per departure from airlines operating in major routes, including Mumbai and Delhi. The government had in March 2017 awarded 128 regional routes to five airlines for launching flights under the Udan (Ude Desh Ka Aam Naagrik) scheme, which aims at boosting air connectivity to the hinterland. Under the scheme, the fares have been kept at Rs 2,500 for a one-hour journey.

Udan flights at Rs 967 from next month

Jet Airways on Tuesday became the latest major Indian airline&nbsp;to rule out a bid for debt-laden national carrier Air India in a new blow to the government's privatisation plans.

The announcement came just days after rival IndiGo pulled out of the race&nbsp;to acquire Air India's operations meaning the government now has no clear frontrunner in the sale campaign.

"We welcome the government move to privatise Air India. It is a bold step," &nbsp;Jet Airways' deputy chief executive, Amit Agarwal said in a statement emailed to AFP.

"However, considering the terms of offer in the information memorandum and based on our review, we are not participating in the process," he added.

Once the country's monopoly airline, Air India has slowly lost market share to new low-cost private players in one of the world's fastest-growing airline markets.

Air India ran losses for nearly a decade after a botched merger in 2007 and has debts of around $7.67 billion according to government figures.

It has received $5.8 billion in bailout funds from the government but needs even more working capital to turn it around, experts say.

The Indian government recently said it wanted to sell a 76 percent chunk of the struggling carrier.

It released bid documents on what would be one of the country's highest-profile asset sales in decades showing it wants the prospective buyer to take on all of Air India's operations.

IndiGo, India's largest airline, withdrew on Friday, saying it was interested only in Air India's international routes and not its domestic operations.

India has the world's fastest-growing passenger airline industry, expanding at an annual rate of around 20 percent.&nbsp;

About 100 million of its 1.25 billion people took to the skies in 2016 and airlines have embarked on huge purchases of new jets in expectation of new growth.

The announcement came just days after rival IndiGo pulled out of the race to acquire Air India's operations meaning the government now has no clear frontrunner in the sale campaign

Jet Airways on Tuesday became the latest major Indian airline to rule out a bid for debt-laden national carrier Air India in a new blow to the government's privatisation plans. The announcement came just days after rival IndiGo pulled out of the race to acquire Air India's operations meaning the government now has no clear frontrunner in the sale campaign. "We welcome the government move to privatise Air India. It is a bold step," Jet Airways' deputy chief executive, Amit Agarwal said in a statement emailed to AFP. "However, considering the terms of offer in the information memorandum and based on our review, we are not participating in the process," he added. Once the country's monopoly airline, Air India has slowly lost market share to new low-cost private players in one of the world's fastest-growing airline markets. Air India ran losses for nearly a decade after a botched merger in 2007 and has debts of around $7.67 billion according to government figures. It has received $5.8 billion in bailout funds from the government but needs even more working capital to turn it around, experts say. The Indian government recently said it wanted to sell a 76 percent chunk of the struggling carrier. It released bid documents on what would be one of the country's highest-profile asset sales in decades showing it wants the prospective buyer to take on all of Air India's operations. IndiGo, India's largest airline, withdrew on Friday, saying it was interested only in Air India's international routes and not its domestic operations. India has the world's fastest-growing passenger airline industry, expanding at an annual rate of around 20 percent. About 100 million of its 1.25 billion people took to the skies in 2016 and airlines have embarked on huge purchases of new jets in expectation of new growth.

Jet Airways rules out Air India bid

The Chhatrapati Shivaji Maharaj International Airport to remain close on Tuesday as well following the yearly pre-monsoon maintenance work.

Following the closure, flight services were hit badly with various airlines cancelling or rescheduling the flights.

According to reports as many as 225 flights have been cancelled from Monday to Tuesday morning.

Flight services of Airlines including Jet Airways, IndiGo, SpiceJet, GoAir and Vistara were cancelled.

The primary city airport is the main base of Jet Airways for its both domestic and international operations.

Jet Airways cancelled 70 flights, including 54 domestic services, Air India decided not to operate 34 flights in view of the runway closure.

Jet Airways also rescheduled 70 flights, including 17 international ones, while Air India diverted four flights.

Jet Airways also announced a list of rescheduled and cancelled flights on its website.

SpiceJet and GoAir said they cancelled 18 and seven flights respectively, while Vistara said it did not operate six services.

On an average, there are 970 flight arrivals and departures at the Mumbai airport every day.

Passengers who are travelling during the time of 11am to 5 pm are advised to contact airline first to confirm the timings.

Earlier this year, several flights were cancelled and rescheduled at the primary international airport of Mumbai after a similar shut down carried by Mumbai International Airport Limited.

Reports say that Chhatrapati Shivani Maharaj International Airport is India's second busiest airport in terms of total passengers. It comes on number 14 on the list of the busiest airport in Asia.

The airport's passenger traffic crossed 45 million in 2016-17.

(With inputs from PTI) 
&nbsp;

The Chhatrapati Shivaji Maharaj International Airport to remain close on Tuesday as well following the yearly pre-monsoon maintenance work

The Chhatrapati Shivaji Maharaj International Airport to remain close on Tuesday as well following the yearly pre-monsoon maintenance work. Following the closure, flight services were hit badly with various airlines cancelling or rescheduling the flights. According to reports as many as 225 flights have been cancelled from Monday to Tuesday morning. Flight services of Airlines including Jet Airways, IndiGo, SpiceJet, GoAir and Vistara were cancelled. The primary city airport is the main base of Jet Airways for its both domestic and international operations. Jet Airways cancelled 70 flights, including 54 domestic services, Air India decided not to operate 34 flights in view of the runway closure. Jet Airways also rescheduled 70 flights, including 17 international ones, while Air India diverted four flights. Jet Airways also announced a list of rescheduled and cancelled flights on its website. SpiceJet and GoAir said they cancelled 18 and seven flights respectively, while Vistara said it did not operate six services. On an average, there are 970 flight arrivals and departures at the Mumbai airport every day. Passengers who are travelling during the time of 11am to 5 pm are advised to contact airline first to confirm the timings. Earlier this year, several flights were cancelled and rescheduled at the primary international airport of Mumbai after a similar shut down carried by Mumbai International Airport Limited. Reports say that Chhatrapati Shivani Maharaj International Airport is India's second busiest airport in terms of total passengers. It comes on number 14 on the list of the busiest airport in Asia. The airport's passenger traffic crossed 45 million in 2016-17. (With inputs from PTI)

Mumbai: 225 flights cancelled following the airport runway closure

No flights were scheduled for Mumbai for six hours on Monday as the airport to remain closed between 11 am to 5 am.

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The runway of Chhatrapati Shivaji Maharaj International Airport will have pre-monsoon maintenance work.

According to reports the airport may also remain closed on April 10 as well.

Passengers who will be traveling during this time will need to contact airline first to confirm the timings as several flights have been rescheduled.

Jet Airways also announced a list of rescheduled and canceled flights on its website.

Earlier this year, several flights were canceled and rescheduled at the primary international airport of Mumbai after a similar shut down carried by Mumbai International Airport Limited.

Reports say that Chhatrapati Shivani Maharaj International Airport is India's second busiest airport in terms of total passengers. It comes on number 14 on the list of the busiest airport in Asia.

The airport's passenger traffic crossed 45 million in 2016-17.

The runway of Chhatrapati Shivani Maharaj International Airport will have pre-monsoon maintenance work

No flights were scheduled for Mumbai for six hours on Monday as the airport to remain closed between 11 am to 5 am. × The runway of Chhatrapati Shivaji Maharaj International Airport will have pre-monsoon maintenance work. According to reports the airport may also remain closed on April 10 as well. Passengers who will be traveling during this time will need to contact airline first to confirm the timings as several flights have been rescheduled. Jet Airways also announced a list of rescheduled and canceled flights on its website. Earlier this year, several flights were canceled and rescheduled at the primary international airport of Mumbai after a similar shut down carried by Mumbai International Airport Limited. Reports say that Chhatrapati Shivani Maharaj International Airport is India's second busiest airport in terms of total passengers. It comes on number 14 on the list of the busiest airport in Asia. The airport's passenger traffic crossed 45 million in 2016-17.

Mumbai: Airport to remain shut for six hours due to maintenance work

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