Jet Airways expects to raise over Rs 1,000 crore by selling 2.5 acres of premium land it owns in the Bandra-Kurla area in Mumbai. The move will partly help the company to raise about $400 million (roughly Rs 2,000 crore) to cut its debt burden of Rs 15,885 crore.
Unless Naresh Goyal pulls the proverbial rabbit out of his hat or reveals an unexpected ace of spades, the airline he built from scratch - many refer to it as "his baby" - may slip out of his grasp, says Anjuli Bhargava.
The catch is you will have to book your flight by August 27 and travel between September 25 and January 15, an airline spokesperson said, adding the offer is applicable on all direct, via and onward flights on SpiceJet's domestic network.
Another reason working in Air India's favour now is the government's plan to clean up part of the airline's burgeoning debt from its books - a major deterrent for investors when it attempted divestment the previous time.
The audit was ordered after one of the airline's planes plunged several thousand feet while flying over the Turkish airspace on the Brussels-Mumbai route early last month.
Naresh Goyal, after being ousted with his wife from the board last week, and with his shareholding halved to 25 per cent, can still make a comeback by partnering a new investor and win back majority control.
Over 70 per cent of Jet's fleet has been grounded, leading to massive cancellations.
Kingfisher will be permitted to fly abroad this year, following its acquisition of Air Deccan. Since Air Deccan will be eligible for the international arena this August, Kingfisher too will enjoy this right.
The operations of many global carriers, including Qatar Airways, have also been impacted due to the airspace curbs in the wake of the Middle East tensions.
After Air India and IndiGo, SpiceJet is the third carrier to cancel the ticket of the Lok Sabha member.
Keeping in view the increased chances of government allowing private domestic airlines to fly abroad, Jet Airways has entered into a global tie-up with the international hotel chain Hyatt, its first global hotel partner.
Restricting air access to foreign carriers by not granting them more bilateral rights is akin to shooting yourself in the foot, as air transport is a wealth multiplier for India's economy, Emirates President Tim Clark said during a press conference held on the sidelines of the annual general meeting of the International Air Transport Association.
Jet Airways chairman Naresh Goyal on Thursday vehemently denied any link with the underworld saying all agencies have cleared his airline in this connection and that is why the carrier has been allowed to fly to the US.
The aircraft was called back to the parking bay at the time of taxiing.
'There will be no flying unless the company pays us substantial salaries and provides a road map,' the National Aviators Guild, the pilots union, said in a message to its members.
India's latest airline will now fly in a swirl of blue. Four months after being taken over by Jet, the erstwhile Air Sahara in its new avatar as JetLite is already showing signs of perking up while readying its new livery.
The winning bid attracted over 99 per cent votes, with lenders overwhelmingly voting for a revival instead of recovery through liquidation.
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.
US aircraft major Boeing on Thursday showcased its new generation B-777-200 LR (long range) plane in New Delhi.
Beginning October 30, Jet Airways will introduce a new service between Delhi and London.
According to sector estimates, it takes at least six months to develop a route.
There is a prospect of a 5-10 per cent drop in fares.
Indian airports' push to become global hubs will depend on reducing passenger leakage to rival airports abroad, scaling up direct long-haul connectivity, and offering transfer experiences that are faster, smoother, and more attractive than those of regional competitors, said panellists at the Business Standard Infrastructure Summit on Thursday.
The two airlines are likely to begin their operations later this month after the DGCA approves their schedule for flight operations.
Acquiring Air Sahara will give Jet Airways the scale required to dominate the lucrative routes to West Asia and the United Kingdom.
A Jet Airways flight from London to Mumbai sparked panic after the aircraft remained out of contact for almost 30 minutes while it was flying over German airspace, barely five days after the mysterious disappearance of a Malaysian Airlines flight last month.
Amid reports that Jet Airways was to get clearance for flying to the United States soon, the government on Monday said that "procedures" were being followed before the issue was resolved.
The move is likely to impact Jet's operations out of Belgium and India.
The airline is trying to save on wage costs by cutting the normal notice period of six months by about half for pilots who have already resigned.
Salla was accused of creating a hijack scare by planting a threat note written in English and Urdu in the tissue paper box of the aircraft's toilet.
However, any progress on the deal depends upon Goyal giving up control of the company.
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