While the interest from Hinduja is a positive sign for the grounded airline, executives of banks cautioned that there is no certainty that the deal will fructify. The cost of recapitalising Jet Airways is increasing every day.
Vistara appoints Vinod Kannan as chief strategy officer; plans to launch its maiden international flight to Colombo in May
The election campaign finally ended on Friday, May 17. Arindam Majumder reveals what he discovered on the election front on a long rail journey.
The top executives who have put in their papers with immediate effect include Jet's chief executive officer (CEO) Vinay Dube, chief finance officer (CFO) and deputy CEO Amit Agarwal and company secretary Kuldeep Sharma.
The business of volume can be a win or a loss for a sugar mill as India's sugar market is heavily controlled by the government.
The demand is the highest for the India-Pakistan match at Old Trafford in Manchester on June 16 and also for the final at Lords on July 14.
Sources involved in the bidding process confirmed that the entity had submitted a bid but expressed doubt over its acceptance
A mix of financial and strategic mistakes combined with poor expectations of the management are the reasons for the downfall of Indian airlines. For Jet, the deathly potion was even more toxic on account of the bitter squabbles between promoter Naresh Goyal and strategic partner Etihad Airways.
Sources said Unsworth had submitted a one-page letter indicating his interest in Jet but without any accompanying documents.
Delta said the airline will operate a Boeing 777-200 LR aircraft with a three-class configuration on the route and will offer passengers wi-fi connectivity and free mobile messaging.
Jet has been operating on international routes since 2004, being the first private airline to do so in decades, after it launched a Chennai-Colombo service in March that year.
The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.
Ticket refunds remain a challenge, though Jet claims the amount would be credited in 7 to 10 working days after the request is processed.
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.
Jazeera Airways started flying to India 18 months ago, servicing Ahmadabad, Delhi, Hyderabad, Kochi and Mumbai.
The sudden massive cancellations of Jet have put travel agents and customers in jeopardy
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.
Over 70 per cent of Jet's fleet has been grounded, leading to massive cancellations.
The airline informed the ministry that it would operate 75 planes by April-end.
Of 1,400 pilots the airline has, 200 have quit in the past few months because of salary delays.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances