While Jet founder Naresh Goyal said he was willing to infuse Rs 700 crore and also pledge all his shares in the company provided he can have at least 25 per cent stake, the airline's foreign partner Etihad Airways insists he must not keep more than a 22 per cent stake.
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.
Fares to key routes such as Delhi, Bengaluru, and Hyderabad may shoot up 80 per cent
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
Jet has come under regulatory scrutiny twice this year.
The airport sees 950-960 aircraft movements daily, and Saturday saw an additional 37 flights to Udaipur as celebrities, filmstars and politicians made a dash to the city for pre-wedding celebrations.
However, the reduction in ATF prices will provide some cushion to airlines engaged in a protracted price war have lost control over pricing in one the world's most price sensitive domestic markets.
The airline has closed reservation for flights to Silchar, Imphal, Aizawl, Jorhat in northeastern states from mid-February. Reservation has also been closed for flights to Madurai, Visakhapatnam, Raipur, Muscat and Sharjah.
Five years on, US company that won the auction for the aircraft is running pillar-to-post, unable to take possession as DGCA hasn't deregistered the jet
Want last year's bonus? Sell our tickets: Jet Airways tells travel agents.
Indonesia-based Lion Air Flight JT610, a three-month old 737 MAX 8, took off from capital Jakarta at 6.20 am local time on Monday and lost contact 13 minutes later when it was at an altitude of about 3,000 feet.
However, any progress on the deal depends upon Goyal giving up control of the company.
Three senior executives - Pradeep Kumar (senior vice- president, cargo), Shrimanikandan Ananthvaidyanathan (chief information officer) and Praveen Iyer (vice-president, revenue management), have quit amid worsening financial situation
This is the largest single dose of equity infusion into the joint venture since its launch in January 2015.
At least 20 to 30 departures are being cancelled daily from metros and key airports including Ahmedabad, Bengaluru and Hyderabad.
The airline has informed its flight attendants that they would be eligible for leave without pay between November 1 and December 20
The airline has failed to address fliers' fears and has been opaque about the allegations of tax and financial fraud, giving rise to apprehension that Jet Airways may be headed the Kingfisher way.
In 2017, 60 million passengers flew between India and the UAE, the largest overseas air travel market from India.
'Passengers of the Jet Airways flight will be entitled for compensation for discomfort and trauma, but it may not be Rs 2 million in this incident.'
Under the fare policy announced, domestic passengers opting for lowest fares will not be served complimentary meals
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