AIBEA has decided to write to the government and RBI against infusing money into Jet Airways. State-owned banks, including SBI and PNB, are the main lenders to Jet.
Jet Airways founder Naresh Goyal and few others have been booked by the Enforcement Directorate in a money laundering case even as the agency is conducting searches at his premises, officials said on Thursday. They said a criminal case against the former chairman of the airlines has been filed under the Prevention of Money Laundering Act after taking cognisance of a recent Mumbai Police FIR filed against him.
The main reason for setting up the facility is to avoid sending airframe maintenance work abroad and perform this labour intensive work at a comparatively lower cost in India.
Jet has proactively undertaken certain operational adjustments to its flight schedule, keeping in mind the likely, yet interim non-availability of some aircraft in its fleet in the foreseeable future.
Amid controversy over the Jet Airways-Etihad deal, the Prime Minister's Office on Tuesday said the stake sale matter was still under examination and the issues raised have been referred to various concerned ministries.
Leading private airline Jet Airways has put on its board a director whose security clearance is still awaited, contrary to stipulated norms of Director General of Civil Aviation.
The summer schedule of airlines starts from March 29.
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.
Even as its senior executives are reported to be in Abu Dhabi to further negotiate with Etihad on the proposed stake sale to the Gulf carrier, Jet Airways engineers are on a "go-slow" mode following the failure of talks over wage hike and arrears, sources said.
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.
The Monopolies and Restrictive Trade Practices Commission, which is inquiring into the Rs 2,300 crore (Rs 23 billion) takeover of Air Sahara by Jet Airways, has forwarded the case to the director general (investigations and registrations
According to reports Etihad Airways chairman Sheikh Hamed bin Zayed al-Nahayan said the Abu Dhabi-based carrier needs to revise its deal to buy a stake in the Indian carrier and it was too soon to say when a final agreement between the two carriers would be struck.
The 3,000-odd cabin crew of Jet Airways cabin has been asked to take a day's leave without pay each month as a cost-saving exercise.
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.
Former Air India Executive Director Jitendra Bhargava had filed the appeal questioning the decision of CCI to approve the Jet-Etihad deal without carrying out a detailed assessment.
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.
Alleging that something was fishy in the Jet-Etihad deal, BJP today demanded that the Prime Minister's Office should come clean on the issue.
Jet Airways on Wednesday inked a deal with Canadian simulation and training solutions provider CAE for supply of Boeing and airbus simulators.
To take delivery of 50 from 2017 and in talks to lease five Airbus planes to Kuwait Airways.
The airline also plans to introduce a third daily direct flight from Mumbai to Bangkok during the winter schedule.
In a new twist to their battle, Air Sahara on Wednesday informed a Lucknow court that Jet Airways has terminated the takeover agreement.
The airline has now agreed to pay 3 per cent commission on gross fare (defined as basic fare plus fuel surcharge) of domestic and international tickets sold in India.
Air India and Jet would, however, operate their flights to the US and Canada by taking a diversion, sources in the airlines said.
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The unions opposed any move to force banks to lend more money to the airline, saying Naresh Goyal is still the promoter and major shareholder with 51 per cent stake and it is his headache to run the company or sell it to someone.
The market is abuzz about how the fabled investor got it wrong.
Jet Airways will not operate some of its flights to and from West Bengal and Kerala on Tuesday following a strike call by major central trade unions.
Over 2,500 travel agents and online travel portals started selling Jet Airways tickets again from this morning after the airline, the country's largest by market share, succumbed to pressure and agreed to pay them a 3 per cent commission.
Move a protest against withdrawal of commissions.
Jet Airways is planning to launch flights to Shanghai, San Francisco and Washington from New Delhi and Mumbai by February. The company also intends to raise Rs 500 crore (Rs 5 billion) via equity dilution.
Petroleum Secretary R S Pandey separately pointed out that the airline had defaulted on payment of fuel bills to oil companies and owed them Rs 259 crore (Rs 2.59 billion). The airline, which is battling to survive the downturn in the industry, has handed out the pink slip to 1,900 employees, mostly cabin crew - which it expected to result in savings of $1 million a month.
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.
Executives from India's leading airlines are conducting internal meetings to devise alternative routes for their international flights that currently pass through Pakistani airspace.
"I have no idea. I have to study the issue. I don't know about it. I am just returning from Bali after attending a labour conference," he told reporters who sought his reaction on Jet's decision to retrench 1,900 employees.
The Union Cabinet on Thursday cleared the Rs 2,058 crore (Rs 20.58 billion) stake sale deal between Jet Airways and Abu Dhabi carrier Etihad.
'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.
A lengthy court battle between Jet Airways and Air Sahara over their failed takeover deal does not seem inconceivable, as Sahara Group chief Subrata Roy has now moved a local court seeking stay on refund of Rs 500 crore
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