The Home Ministry has conveyed to the Department of Economic Affairs (DEA) that it has not given security clearance to the Abu Dhabi-based Etihad Airways' proposal to buy a 24 per cent stake in Jet Airways.
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.
In a midair scare, a Guwahati-bound Jet Airways aircraft from Delhi with about 130 passengers and crew on board was on Thursday caught in severe turbulence, which the airline claimed was caused by a passing Boeing 747 jumbo.
'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.
Yogvedanta Poddar, in his 20s, was being interrogated at the Netaji Subhas Chandra Bose International Airport police station to ascertain his motives.
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.
Prock-Schauer, 56, succeeds Hartmut Mehdorn, who was CEO on an interim basis since September 1, 2011, the company said, adding that Mehdorn will continue to serve as a non-executive director of the Board.
The Securities and Exchange Board of India has cleared the initial public offer of Jet Airways.
The two companies are hopeful of winning over at least one regulator's go-ahead this week itself for their deal, which happens to be the first FDI by a foreign airline into India.
Etihad has purchased 24 per cent stake in Jet Airways in a deal worth about Rs 2,060 crore deal which was announced in April 2013.
However, any progress on the deal depends upon Goyal giving up control of the company.
Shares of Jet Airways on Wednesday tanked over 10 per cent in the morning trade as the airline has posted its highest-ever annual loss of Rs 4,129 crore (Rs 41.29 billion).
India's largest private sector airline Jet Airways has postponed its $400 million (Rs 1600 crore) rights issue slated for March this year by three or four months, the third postponement since the board approved it in June, owing to poor market sentiment.
After Air India and IndiGo, SpiceJet is the third carrier to cancel the ticket of the Lok Sabha member.
A note about hijackers and a bomb found in the toilet of a Mumbai-Delhi Jet Airways flight.
Playback singer Sonu Nigam on Friday lashed out the Jet Airways for suspending the crew members, who allowed him to perform impromptu on the aircraft's address system.
A Jet Airways flight, traveling from Kuwait to Mumbai and carrying 160 people, made an emergency landing at Muscat airport on Friday after a bomb scare on board that turned out to be a hoax. Omani authorities received a tip off that a bomb might be aboard the Boeing 737-800 aircraft, following which they alerted the crew. The crew then decided to divert to Muscat where the airplane landed safely at 1 am local time, about two-and-a-half hours after departure from Kuwait.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
The apex court issued notices to the Centre, ministries and departments concerned, Jet Airways and United Arab Emirate's Etihad Airways on the petition challenging the deal and sought their responses within four weeks.
The airfare hike will come into effect from October 14.
57 passengers and four crew on board a Jet Airways flight from Indore on Thursday night had a close shave when the aircraft skidded on the runway after its nosewheel came off while landing at the airport in Ahmedabad.
Rakesh Jhunjhunwala-backed new airline Akasa is in talks with US aerospace company Boeing for buying up to 100 737 Max aircraft. Former Jet Airways CEO Vinay Dube and his family members are promoters while ex-IndiGo president Aditya Ghosh is a board member of the airline. The airline is in negotiation with Boeing and has reached out to the government to recertify the aircraft which has been grounded since 2018 after two crashes killing 349 persons, according to sources in the know.
Terming as "unfortunate" the loss of lives in the Malaysian Airlines tragedy, Civil Aviation Minister Ashok Gajapathi Raju on Friday said there was no Indian on board the aircraft.
A one-time income of Rs 305 crore (Rs 3.05 billion) from the sale of its loyalty programme to equity partner Etihad helped Jet Airways slash losses to the tune of 95.7 per cent at Rs 43 crore (Rs 430 million) in the three months to September.
Jet Airways' plans to raise $400 million through a share sale to foreign institutions may get delayed as the government on Thursday deferred a decision on the proposal of the private air carrier.
'The airline business is very dynamic. If you are unable to keep up and lead, you end up last.' 'This is what has happened to Jet.'
Though public shareholding in Jet is already down to the mandated 25 per cent, the regulator wants its promoters to pare their stake further.
Foreign carriers to pick up staff from cash-strapped SpiceJet.
The airline has proposed to raise authorised share capital to Rs 2,200 crore. This would comprise Rs 680 crore of equity capital and Rs 1,520 crore of preference share capital.
Concerns over effective control not addressed in the second revised shareholders' agreement, says DIPP; Sebi opposes commercial cooperation pact
While Etihad has told Securities and Exchange Board of India that it has not violated any securities law by not making an open offer, the capital market regulator is now seeking further clarity on the issue from other agencies including fair trade watchdog CCI, Finance Ministry and Aviation Ministry, sources said.
Earlier when Goyal had moved court seeking permission to go abroad, the judge had observed that if he wanted to go abroad, he should first deposit Rs 18,000 crore as guarantee that his company owes to lenders.
Her photograph lying injured at the airport, epitomises the horrors of the terror attack in Brussels.
A Coimbatore-bound Jet Airways plane with Union Home Minister P Chidambaram on board returned to the Chennai airport on Friday due to a technical problem that developed mid-air.The problem was detected while the flight was mid-air, following which it flew back to Chennai, airport officials said. Later, the passengers including Chidambaram were put on another Jet Airways flight which left for Coimbatore, they said.
DGCA was irked by was a video on social media that showed passengers dancing on board a midair flight. The regulator has summoned the airline officials seeking an explanation.
The DGCA official who wrongly assigned the code of Antonov AN-32 -- an aircraft used by the IAF -- to the SpiceJet aircraft has been suspended, report Arindam Majumder and Aneesh Phadnis.
This meeting came in the backdrop of a controversy raked up by some politicians, including those from Bharatiya Janata Party, Communist Party of India and Trinamool Congress, who objected to the sale of 24 per cent of Jet's equity to Etihad at a cost of Rs 2,058 crore, saying it was not in the national interests.
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