Troubles for SpiceJet seem to have piled up and it remains financially strapped.
Though Mistry does not make it to the club of the top 10 highest paid India Inc leaders, he will be among the next 10.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
On December 31, SpiceJet's accumulated losses had grown to Rs 3,233 crore.
Civil Aviation minister says that certain regulations restricting the growth in the aviation sector needs to be re-looked to attract investments.
The ED said that Chidambaram has remained evasive and therefore grant of pre-arrest bail at this stage would be highly detrimental to the investigation.
The 30-share Sensex provisionally ended up 46 points to end at 28,122 and the 50-share Nifty gained 20 points to close at 8,514.
For Jet's revival, Mr Jalan should be on the scene long enough for everyone to get to know him, appreciate his skills, and not vanish into thin air within a matter of months or even weeks, observes Anjuli Bhargava.
BBAM seeks $100 million, return of 6 Boeing 737s.
Concerned over the deteriorating condition of SpiceJet, aviation regulator DGCA on Friday withdrew 186 of its slots and asked it to clear salary dues of all its employees in the next ten days.
Falling jet fuel prices, stable rupee signal lower losses
Despite the gains from Jet's closure, in 2018 and 2019, the airline continued to make losses in many quarters for a variety of reasons, including some mistakes like taking on Jet's aircraft, which were not in great shape and had business class configuration, a gamble that did not work for SpiceJet.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
Qatar Airways might infuse $200 million in debt and equity in SpiceJet.
Lessors of SpiceJet have in panic taken back some aircraft but if they see fresh investors coming in and taking charge, they are likely to relent and return the planes.
In India, many players are in the throes of chaos and pain but at least one partnership -- Air Asia India -- that was fraying even before the pandemic now finds itself at breaking point, says Anjuli Bhargava.
The civil aviation ministry appears supportive of SpiceJet because it does not want another airline to fail. The real test now will be the capacity of the airline's chairman, Kalanithi Maran, to raise funds. And he needs to do this quickly.
Few top honchos of India Inc did very well in 2014.
He was chargesheeted for the offences punishable under section 120-B
The combined pay for India Inc's top management was up 30 per cent in FY16, growing at the fastest pace in nine years
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
The 30-share Sensex ended up 140 points at 28,262 and the 50-share Nifty was up 37 points at 8,551.
Though SpiceJet is likely to resume flights, experts have a doubt on the airline's financial capabilities.
S&P BSE Midcap shed 0.8% while S&P BSE Smallcap tumbled 0.6%
Did Jayalalithaa, who was also in jail then, know about these transactions?
If the Murari Lal Jalan-Kalrock Capital combine can script a turnaround, it will have pulled off a bigger coup than Ajay Singh did with SpiceJet in 2014.
It is not easy for an FMCG brand to make a comeback if it has been out of consumer's reckoning for some time. Moreover, a protracted battle between the owners and then closure of a large number of outlets at one go might have sent some very negative signals to many, says Sneha Bhattacharjee.
Though Vistara is not a low-cost carrier, it could benefit from the fact that the difference between the fares of LCCs and economy class of full-service carriers in India is minimal today.
In the wake of lukewarm response to his last two films Lingaa and Kochadaiyaan, T E Narasimhan and Urvi Malvania examine ways in which Rajinikanth can reclaim past glory.
National carrier Air India became part of the 27-member global airlines grouping Star Alliance, as budget airline AirAsia India launched operations and Tata-SIA joint venture carrier Vistara received the flying permit and announced its intentions to start operations from January 9.
Some lessors have even taken the airline to court.
The CBI had summoned Karti to appear before it on October 4.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Officials said the agency had issued a notice to Karti to present himself in person or through an authorised representative and submit personal financial documents and those related to a firm this week.
Ajay Singh is trying hard to turnaround SpiceJet.
The probe pertains to firms identified as Advantage Strategic Consulting Private Limited and Chess Global Advisory Services Pvt Ltd, where Karti had been a director
Concerned about the deteriorating financial and operational performance of the Kalanithi Maran-promoted airline, the DGCA had on Friday withdrawn 186 flight slots of SpiceJet and directed it not to take bookings for flights beyond a month.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances