A career Citibanker, 'Selva' came into the spotlight as the person who rewired the financial behemoth's Indian retail operations.
The government is also planning to replace the current ageing Air India One or Boeing 747 with Boeing 777s. Arup Roychoudhury and Archis Mohan report.
Under the fare policy announced, domestic passengers opting for lowest fares will not be served complimentary meals
The meeting, held in Mumbai at the State Bank of India headquarters, was attended by most of the lenders and the airlines' chief executive officer Sanjay Aggarwal and chief Financial officer H G Raghunath.
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.
For almost all the properties owned by Vijay Mallya, the reserve price has been marked down after the earlier attempts failed to attract bidders.
Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
The lenders have not ruled out selling the property to recover part of their loans to the company.
Malaysian budget airline AirAsia moved a step closer to securing permission to launch operations in India, with Civil Aviation Minister Ajit Singh on Monday saying that all issues concerning the carrier's application have been resolved.
The 17-lender consortium led by State Bank of India has also put the Flying Models, Funliner, Fly Kingfisher and Flying Bird Device on the block.
Vistara has a three-class configuration with business, premium economy and economy cabins.
One thing is certain: The part-Goan, part-Malayali group CEO of Air Asia is not your usual boardroom CEO, and he cultivates the maverick businessman image, buying race car teams and football clubs and taking off-beat bets with his mentor and now buddy Richard Branson of Virgin.
The national carrier recently invited expressions of interest to appoint a real estate firm to advice it on the deal.
Though NOC was issued by the Ministry last week, this was the first formal statement by the AirAsia CEO on microblogging site Twitter.
Shiv Sena MP Ravindra Gaikwad, who has been banned from flying by several airlines after he assaulted an Air India staffer on March 23, reached Delhi on Wednesday via a chartered flight, according to sources.
China Eastern Airlines, the only Chinese carrier that operates direct services to India, has recruited 17 young Indian stewardesses to cater to the growing India-China segment, the company said on Thursday.\n
Recruitment and import of aircraft still to get going
The seven Indian-Americans are cybersecurity firm ZScaler CEO Jay Chaudhry, founder and chairman of Symphony Technology Group Romesh Wadhwani, cofounder and CEO of online home goods retailer Wayfair Niraj Shah, Silicon Valley venture capital firm Khosla Ventures founder Vinod Khosla, managing partner of Sherpalo Ventures Kavitark Ram Shriram, Airline veteran Rakesh Gangwal and Workday CEO and co-founder Aneel Bhusri.
As global and domestic economies continue to flounder, vacancies at many existing and new commercial properties across India's commercial capital have risen to 30-50 per cent levels from 14-15 per cent in 2009.
Here's what some states are doing to get a grip on the situation. Ruchika Chitravanshi & Aneesh Phadnis report
Country's largest airline has set up a centralised unit to minimise disruptions.
Two of the depositors had died of cardiac arrest, while another, a woman doctor, allegedly committed suicide.
The founder of the dreaded terrorist group Jaish-e-Mohammed undergoes regular dialysis at an army hospital in Rawalpindi in Pakistan.
Jet Airways requires at least 200 more pilots to carry out its operations in a seamless manner
Jet Airways is keen to improve its market share
The Villa, owned by United Breweries Holding, was mortgaged by KFA to SBI-led 17-bank consortium to obtain loans in 2010
The auction of Kingfisher House, which has a built-up area of over 17,000 sq ft and is located in the plush Vile Parle area, is scheduled to begin at 1100 hrs on August 4
The trademarks/brands on the block include Fly Kingfisher, Flying Models, Funliner, Fly the Good Times, Kingfisher and Flying Bird Device.
The Anti-Terrorism Court (ATC) Gujranwala issued the warrant during a hearing in a terror financing case instituted by the Counter Terrorism Department (CTD) of Punjab police against some members of the JeM.
Banks put the airline's trademarks including Kingfisher logo and the once-famous tag-line 'Fly the Good Times' on the block
'Shouldn't the DGCA ensure both safety and convenience of passengers?' 'And convenience has been a casualty as nobody knows which Jet flight would be grounded next, throwing passengers' plans in disarray,' says Nivedita Mookerji.
'Shouldn't the DGCA ensure both safety and convenience of passengers?' 'And convenience has been a casualty as nobody knows which Jet flight would be grounded next, throwing passengers' plans in disarray,' says Nivedita Mookerji.
The airlines had pledged the trademarks as collateral with banks at the time of taking loans from them
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
Heineken could call a shareholder meeting to vote on his ouster from a company his father built into a family empire
In a departure from the past, when IHCL adopted the organic route for entering markets like London and New York, this time around the expansion will be acquisition-led.
Paramount Airlines had started its operations in 2005 and was flying to southern and eastern parts of India before it wound up 2010.
The changes would be the most ambitious overhaul to date of rules governing the liquidation or revival of companies in India.
The group, comprising on 147 women and 20 men, were airlifted by an Air Asia chartered flight from Kochi to the Biju Patnaik International Airport in Bhubaneswar.
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