Alleging some "motives" behind the series of developments at the carrier, Jet Airways Officers & Staff Association president Kiran Pawaskar demanded a probe, preferably by CBI.
The creditors of the grounded carrier Jet Airways on Wednesday raised questions over the source of Rs 200 crore deposited by the Jalan-Kalrock Consortium before the insolvency appellate tribunal NCLAT and said it does not align with the resolution plan. Additional Solicitor General N Venkataraman, representing lenders including SBI and other banks, told the National Company Law Appellate Tribunal (NCLAT) that there are apprehensions about the source of funds, which deposited money for Jalan-Kalrock Consortium's (JKC). "The payment is not compliant with the resolution plan as it mandates that the money is to be paid through JKC," ASG submitted before a three-member NCLAT bench headed by chairperson Justice Ashok Bhushan.
Jet Airways is undergoing insolvency proceedings and at least three entities have put in initial bids for the carrier.
Want last year's bonus? Sell our tickets: Jet Airways tells travel agents.
The pilots and other senior staff have not been getting their full salaries since December.
More than 25 aircraft of Jet Airways has been grounded by lessors due to non-payment of lease rentals. The airline, which started the winter schedule with 103 planes, is now down to 83.
JetLite was created in 2007, following the takeover of Air Sahara in April 2007.
Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore under the approved resolution plan. The National Company Law Tribunal (NCLT) on June 22, approved the consortium's resolution plan for Jet Airways, which has been undergoing insolvency resolution process since June 2019. The carrier shuttered operations in April 2019.
In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, "...Only wish the same was done for Kingfisher".
The reduced fare offer is also available for travel on partner airline Etihad Airways flights
Jet Airways announced the launch of a new all-economy, no-frills service called Jet Airways Konnect starting May 8.
Jet Airways pilots along with engineers and senior executives have not been paid for the last three months.
Full service product with complementary meal service would be provided on all domestic flights from December 1, with the buy-on-board concept being discontinued, an airline statement said.
The Jet Airways of old is no more and the industry mourns its demise. Anjuli Bhargava reports.
Will be the first choice if Naresh Goyal decides to sell stake in future.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
While media reports suggested that Tata-Singapore Airlines is looking at an all-stock merger of Jet, Tatas, in a statement said, discussions to take over Jet Airways have been preliminary and no proposal has been made
Jet and Etihad stand to benefit from cost savings and synergies in areas such as fleet acquisition, maintenance and training.
The airline will reconfigure its planes to add business class seats in its low-cost service
Jet Airways owes more than Rs 8,000 crore to a consortium of banks led by the State Bank of India, which now run the airline, while it has a much larger debt pile by way of accumulated losses to the tune of Rs 13,000 crore and vendor dues of over Rs 10,000 crore and salary dues of over Rs 3,000 crore.
Jet Airways (India) termed the allegation made by Nancy Heckerman of US-based aviation outfit that money raised by Jet through public offer was pumped into the market through the 'hawala' route as "baseless".
The possible date for bidders to submit a resolution plan to the adjudicating authority -- National Company Law Tribunal (NCLT) -- is September 27.
Has also sought permission to share with Virgin Atlantic for new routes in Britain.
Sources said the process has taken time because of a delay in leasing of aircraft. As per the original plan the aircraft were to be leased through GIFT City, Gujarat, but this is proving costlier than doing it offshore.
Lenders are likely to convert part of the airline's debt into 11.4 crore shares at a consideration of Re 1 apiece as per RBI norms.
The stake-purchase agreement with Jet, second largest domestic passenger market share, will make Etihad the first foreign carrier to buy into an Indian airline.
At least 20 to 30 departures are being cancelled daily from metros and key airports including Ahmedabad, Bengaluru and Hyderabad.
Passengers were left stranded at the Sardar Vallabhai Airpot on Tuesday as two Mumbai-bound flights of Jet Airways were cancelled from Ahmedabad after the airline pilots went on mass casual leave.
The firm, udChalo, is a portal founded by the wards of Army men and it provides for personal travel needs of armed forces, paramilitary forces and their family members.
The pilot-turned-airline owner and his partner Biraja Jena plan to launch FlyBig, which has secured 16 routes under the fourth phase of UDAN, the government's regional connectivity programme.
Private carrier Jet Airways on Monday launched daily flights between Mumbai and Raipur.
India's international carrier Air India has come to the relief of Jet Airways passengers, after Jet had to cancel over 130 flights when 400 pilots failed to show up for work.
Speaking at the 2013 CAPA Australia Pacific Aviation Summit held in Sydney, Abu Dhabi-based Etihad Airline's President and CEO James Hogan said, "We are delighted to welcome Air Serbia to our equity alliance, and look forward to receiving final approvals from regulators in India of our investment in Jet Airways," he added.
The order came days after Goyal told the court that he had "lost every hope of life and it would be "better if he died in jail" than living in such a situation.
Jet Airways plans to increase capacity on international routes by reconfiguring existing aircraft and adding new ones.
In a bid to cash in on summer vacation rush, Jet Airways will launch new no-frills service - Jet Airways Konnect, from May 8 and will provide 10-15 per cent cheaper airfare on the service.
In these times of high losses, airlines are looking at multiple options to earn cash.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances