The change in ownership is necessary to conform to the government's foreign direct investment norms in aviation.
The aircraft was called back to the parking bay at the time of taxiing.
Describing the over Rs 2,000 crore (Rs 20 billion) business proposal between Jet and Etihad airlines as a win-win deal, Civil Aviation Minister Ajit Singh on Thursday said it will be beneficial for flyers.
Etihad has been in talks for a 24 per cent equity stake in Jet, valued at around $300 million, ever since India relaxed ownership rules and allowed foreign airlines to buy up to 49 per cent in local carriers.
Jet Airways and IndiGo on Friday announced launching of more flights to Dubai from India.
Abu Dhabi-based carrier seeks a cut in premium it had agreed to pay on Jet's stock price
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, the budget carrier that stopped flying nearly three years ago after being bogged down by financial woes. In May 2023, the airline filed for a voluntary insolvency resolution process citing financial woes. The tribunal, in a 15-page order, said it is ordering the liquidation of the corporate debtor Go Airlines (India) Ltd.
Days after SpiceJet offloaded a differently-abled person from a flight, Jet Airways has been accused of showing apathetic behaviour towards a disabled woman, even as the airline and aviation regulator Directorate General of Civil Aviation launched separate probes into the incident.
Sources close to the deal say, besides a higher stake (earlier, the negotiations were on for sale of up to 24 per cent), Etihad has asked for its representation on the board of the Indian airline, in sync with its shareholding.
The first tranche of $31 million was due on March 11, while the second instalment of $109 million was due on March 28.
While Jet founder Naresh Goyal said he was willing to infuse Rs 700 crore and also pledge all his shares in the company provided he can have at least 25 per cent stake, the airline's foreign partner Etihad Airways insists he must not keep more than a 22 per cent stake.
Shares of Jet Airways surged 16 per cent to close at Rs 505.7 on Friday on speculation that Etihad Airways might buy 24 per cent in the company.
Jet Airways shares fall as much as 13.6 per cent after media reported that the deal with Etihad may be called off.
"It would be appropriate for you to include two representatives from us so as to better understand our concerns about the company, and also to enable the new shareholders to confidently expect a highly empowered and engaged workforce," Jet staff told SBI.
Bids to be evaluated according to guidelines by the civil aviation ministry, following which a buyer will be selected. Transfer of control to the buyer to be effected by June-end.
Jet Airways has executed a memorandum of understanding/letter of intent for taking five planes on lease.
Boeing Corp. will on Sunday roll out its latest offering - the Boeing 787 Dreamliner - billed as the most economical and fuel efficient jet that will soon make its debut in India with top airlines Air India and Jet Airways placing orders for 37 jets.
But the Abu Dhabi-based airline would first bolster its own network with traffic from India before Jet's turnaround.
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.
It was a meeting to show solidarity with the laid-off Jet Airways staffers, but MNS chief Raj Thackeray's men turned it into a coaching class for Marathi.
The airline requires these pilots for the wide-body Boeing 777s.
The Delhi high court has directed SpiceJet to deposit "forthwith" Rs 75 crore that has to be paid to media baron Kalanidhi Maran and his Kal Airways towards interest on an arbitral award of Rs 578 crore. The high court said, admittedly, there is no modification of the February 13, 2023 order passed by the Supreme Court in the case, and hence it needs to be followed. "Since the judgment debtor (SpiceJet) had failed to pay an amount of Rs 75 crores to decree holder (Maran and Kal Airways), hence in terms of para 15 (ii) of the order dated February 13, 2023 of the Supreme Court, there is no other alternative except to call upon the judgment debtors to deposit the entire outstanding amount qua interest forthwith, thus is so directed.
A meeting of the top officials of Sahara India and Jet Airways to resolve the dispute over the buyout of Sahara Airlines by the latter has not resulted in any settlement.
After plunging 8 per cent to Rs 486.30 in intra-day, the stock finally ended the day at Rs 491.50, down 7.01 per cent on the BSE.
The West Asian carrier could pay up to $330 mn for a 24% stake in Jet, say sources.
Jet's flights to Abu Dhabi could be used to carry passengers from India headed for the US and Europe.
The trails of mega-mergers, tailwinds of expanding fleets, flights and airports will dot the fast-growing Indian aviation firmament in 2025, though the dark clouds of supply chain woes will persist longer. Also, new airline takeoffs, the future trajectory of revised norms to tackle pilot fatigue and efforts to reduce carbon emissions will be on the radar.
However, any progress on the deal depends upon Goyal giving up control of the company.
Domestic air traffic rose 20.81 per cent in June on the back of low fares and peak season demand.
Huge demand sparks apprehension among other carriers, private airports.
Jet Airways on followed its smaller rival SpiceJet and hiked fares by a steep 25 per cent to mitigate the impact of the sharp fall in the rupee value and a near 15 per cent spike in oil prices of late.
The Bombay High Court on Thursday gave Jet Airways and Sahara Group one last chance to amicably resolve a payment dispute over acquisition of Sahara Airlines by Jet, but if they squander this opportunity the court would step in with its ruling on July 15.
The next FIPB meeting slated for July 5, however, does not have a Jet proposal on its agenda.
It offers fares as low as Rs 1,499 for a one-way journey.
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.
Etihad's acquisition of 24 per cent stake in Jet Airways was the first FDI in an Indian carrier by a foreign airline.
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.
Low-cost carrier SpiceJet Airlines, promoted by a group of investors led by the Kansagra family and Delhi-based Ajay Singh, is working on a plan to start international operations next year, making it the third private Indian carrier after Jet Airways and Kingfisher to fly overseas.
Jet Airways and Lufthansa Airlines have entered into a reciprocal frequent flyer agreement.
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