While the interest from Hinduja is a positive sign for the grounded airline, executives of banks cautioned that there is no certainty that the deal will fructify. The cost of recapitalising Jet Airways is increasing every day.
SBI is the lead lender to Jet Airways, which has a debt burden of more than Rs 8,000 crore.
The move will help Jet Airways strengthen its subsidiary JetLite's performance.
Stock exchanges will impose restrictions on trading in Jet Airways shares from June 28 as part of preventive surveillance measures to curb excessive volatility.
The pilots are also looking to take recourse to legal steps, including recovery proceedings against the company for salary, allowances and benefits
The Bombay High Court on Monday restrained the pilots' union of Jet Airways from any strike.
While full service carriers (such as Jet Airways, Kingfisher Airlines and Air Sahara) offer food onboard and personal attention, low-cost carriers (such as Air Deccan, SpiceJet and GoAir) do not offer many of these services.
Jet Airways would start its operations in the gulf countries from January 5, connecting India with Bahrain, Kuwait, Oman and Qatar, a senior official of the airline said. Kuwait will be connected to New Delhi and Kochi, while Bahrain will have flights to Mumbai and Kochi. Doha will have flights to Mumbai and Kozhikode and Muscat will be connected to Kozhikode and Kochi.
Jet Airways expects to return to profit in the next 18 months, following implementation of a new route network and fleet strategy and cost optimisation measures.
JetLite, which was acquired by Jet Airways for Rs 1,450 crore, is operating three of its seven Canadian-built Bombardier airplanes. JetLite has a total 24 aircraft, including Boeing B737s.
Jet and Etihad have already agreed upon a Rs 4,000-crore interim financing plan according to which Etihad will put in Rs 750 crore either on its own or from an offshore or onshore lender, and a matching amount will be provided by the Jet lenders.
When it was operational, Jet Airways had over 22,000 employees of them over 16,000 were on the rolls.
However, passenger traffic between the two sectors would be served via Jet Airways' London Gateway in co-operation with partner airlines, Jet Airways said. Jet Airways has already announced a code share partnership with United Airlines with convenient connections between Mumbai and several US points via London in both directions, the company said.
Konnect to be phased out as airline struggles to contain losses.
An employees' consortium has demanded that the Committee of Creditors should look at providing one month's salary as an interim financial assistance.
The summer schedule of flights of all other domestic airlines such as Vistara, IndiGo, Air India and GoAir have been approved till October 26.
Jet Airways on Monday announced India's first interline e-ticketing agreement with KLM Royal Dutch Airlines, Northwest Airlines and British Airways.
'When Etihad initiated their bid, it was conditional.' 'They said only if someone takes a 'haircut' would they be interested.'
The first hurdle is how long Jet Airways can enjoy rights over its parking slots at various airports.
Jet Air shares rally on expectations that continuing troubles at rival SpiceJet will help it gain market share.
Nikos Kardassis will become the next chief executive officer of Jet Airways, taking over the reins from Wolfgang Prock-Schauer who will step down on October 15, 2009.
Nidhi Chaphekar, a Jet Airways crew member who was injured in the Brussels airport bombings, has been discharged from a hospital in Mumbai.
Continuing its focus on low cost model of operations, private carrier Jet Airways will shift 45 flights to its no-frill service brand Jet Airways Konnect by October.
omestic passengers flown by Indian carriers declined marginally in the first four months of this year compared to last year, even during peak season operations.
Jet Airways has filed an additional document in response to the objections raised against its proposal to start flight operations to the US later this month by an American company.
It will provide Jet Airways and the Arab airline members of AACO, with opportunities to create synergies.
Turkish Airlines is the national airline of Turkey and has already taken four Boeing 777 aircraft on lease from Jet Airways.
The Etihad delegation was led by its CEO James Hogan at the meeting, which was also attended by Jet Airways promoter Naresh Goyal.
The airline has suspended its international operations till Monday.
Much before its sack order to 1,900 employees turned into a publicity nightmare, Jet Airways had handed marching orders to 1,000 workers and even managed to keep it under wraps.
Nidhi, 42, who has not yet recovered from the injuries suffered in the terrorist attack, arrived around 7.30 am on Friday on a Paris-Mumbai Jet airways flight and was driven to Breach Candy hospital from the airport.
An official of the aviation regulator DGCA had said that the pilots aborted the take off after they were informed about a 'barrier' on the runway
