Pessimism largely emanates from the fact that the volume outlook for FY20 isn't encouraging at the moment.
Banks want government to retain 40 per cent of Jet slots at all airports to ensure a new owner can kick-start operations soon after taking over.
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
After a meeting of banks on Friday on ways to make funds available immediately, a source in the know said lenders other than SBI and Punjab National Bank had not come on board so far to chip in with their funds.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
Etihad said it would not participate in the rights issue or infuse fresh funds under the current terms and conditions of the resolution plan
With a presence in the value segment, better service quality, and lower ownership cost, Skoda India's director of sales and marketing Zac Hollis aims to make important changes. He tells Arindam Majumder how he plans to make India the company's fifth-largest market by 2023.
SpiceJet had bet its fortunes heavily on the new version of the 737 of which it has 13 planes in its fleet and another 193 aircraft on order
The airfares are already 15 per cent higher than last season and due to this shortage it will go higher, said Sharat Dhall, COO of Yatra.com.
Approval was held up due to CBI investigation into international flying permit of Tata group-owned AirAsia India.
More than 25 aircraft of Jet Airways has been grounded by lessors due to non-payment of lease rentals. The airline, which started the winter schedule with 103 planes, is now down to 83.
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
For Air India and Jet Airways, airspace closure over Pakistan would mean flights to US and Europe will have to take a longer route.
IndiGo's situation points to a deeper malaise where skill shortage can challenge India's status as the fastest-growing aviation market, say experts.
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
According to a survey by travel portal ixigo, economy airfares from Mumbai have shot up by almost 25- 30 per cent till the end of March.
From Dabur to HUL, here are 10 stocks with significant rural exposure in the auto, agri-chemical and fast moving consumer goods sectors, which should see an uptick in sales growth.
Lamborghini, which expects 60% growth this year has priced Huracan Evo at Rs 3.73 crore, also said in the next five years India will be one of the top 15 markets for the company.
The islands that would be connected through seaplanes are Campbell Bay, Car Nicobar, Havelock, Hutbay, Neil, Long Island and Diglipur, reports Arindam Majumder.
The airline has struggled to pay salaries and vendors on time and its Rs 10,963 crore fund and non fund based facilities have now been assigned 'D' rating by ICRA - the seventh rating downgrade since March 2017.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances