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Showing posts with label Jet Airways. Show all posts
Showing posts with label Jet Airways. Show all posts

The bidders shortlisted for Jet Airways

Etihad Airways, National Investment and Infrastructure Fund, TPG Capital and Indigo Partners have emerged as qualified bidders for Jet Airways, Economic Times reports. A consortium put together by founder Naresh Goyal withdrew from the race after suitors Etihad and TPG threatened to walk out. Meanwhile, media reports said matters have devolved into a chicken-and-egg situation: Jet has asked banks ₹400 crore to stay afloat but the lenders want to evaluate the bids first to limit their risk. The carrier flew just five planes on Tuesday, and unpaid pilots have threatened to invoke insolvency laws to recover salaries.

Jet Airways plane seized in Amsterdam for non-payment of dues

MUMBAI: Adding to the woes of the crippled Jet Airways, a European cargo services provider has seized one of its Boeing planes at the Amsterdam airport for non-payment of dues. The report is published in in TOI. The aircraft was to operate a flight (9W 321) to Mumbai from Amsterdam Thursday, an airline source said. "The cargo agent seized Boeing 777-300 ER (VT-JEW) of Jet Airways at the Amsterdam airport as the airline could not clear his dues," the airline source said Wednesday. The airline has grounded more than three-fourths of its fleet due to non-payment of lessors' rentals and is operating just about 25 planes out of its 123 earlier.

Jet Airways has started sending expat pilots on leave without pay

Jet Airways has started sending expat pilots on leave without pay, Times of India reports, citing sources. The move is part of a cost-cutting exercise by the new lender-led management – expat commanders are nearly twice as expensive since they need accommodation and flight tickets to their home country frequently. Lessors have grounded nearly two-thirds of Jet’s planes, forcing the carrier to cut flights to nearly 150 from over 600 daily. Meanwhile, Economic Times reports that Jet’s top lender SBI and founder Naresh Goyal have reached out to TPG Capital and Delta Air Lines, respectively, scouting a stake purchase interest.

Jet Airways grounds 4 aircraft

Jet Airways has grounded four aircraft following its inability to pay lessors. The debt-ridden airline, which operates a fleet of 124 aircraft, is proactively informing and re-accommodating the affected guests, it informed the stock exchanges. Jet urgently needs external funding to stay afloat and the company is said to be cutting a deal with Etihad and State Bank of India. Reuters reports, qouting unidentified sources, that some lessors are questioning the viability of the carrier’s rescue plan.

Baby born on Jet Airways plane gets free air tickets for life

New Delhi: He is a born frequent flier—a baby boy, born on Sunday 35,000 feet above sea level on a Jet Airways plane from Saudi Arabia to India, has received a free lifetime pass from the airline as his first birthday gift.