"Tata Sons board is meeting tomorrow (Friday) to consider the proposal to bid for Jet Airways," people in the know of the development told PTI.
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India's largest private airline, which went bankrupt in 2019. Over the past three years, the airline went through an insolvency process under which JKC's resolution plan was approved by a committee of creditors (lenders) and the National Company Law Tribunal (NCLT) in October 2020 and June 2021, respectively. But this didn't mean an end to the problems.
The top-level exodus at Naresh Goyal-promoted Jet Airways continued on Friday, with chief financial officer and acting CEO Ravishankar Gopalakrishnan quitting.
The airline has paid the TDS but mostly after the scheduled date.
Jet Airways on Thursday said it would introduce more flights on both its domestic and international networks.
Switching to a damage-control mode, bankers and government officials claimed that Jet Airways wouldn't fall even if Etihad refuses to back the resolution plan and exits.
The Boeing website lists the price of a Boeing 737-800 aircraft at $90.5 million.
Former Director General and CEO of IATA, Giovanni Bisignani, says Jet Airways chief Naresh Goyal developed his airline's business class mock-ups in utter secrecy inside the garage of his London home.
Jet Airways -- which has been flying for 25 years - on Friday described reports that the airline cannot fly beyond 60 days as "incorrect and malicious" as well as denied any talks of stake sale.
The airline now has a total of 1,120 pilots of whom 88 are foreign pilots.
Jet Airways on Thursday blamed a steep fall in the rupee, slowdown in the domestic aviation market and rise in fuel costs for a sharp widening in standalone net loss at Rs 891 crore in the July-September quarter.
Kardassis, who quit the airline in 2013, will advise Goyal and senior management on cost-saving and productivity improvement
State Bank of India on Monday invited bids from strategic as well as financial bidders for stake sale in ailing Jet Airways, and the bids have to be submitted by April 10, said a public notice.
At the NSE, the stock zoomed up by 8 per cent to Rs 444.
Private carrier Jet Airways is re-working a comprehensive profitability plan sought by its foreign partner Etihad Airways, which completed a 24 per cent stake purchase in the Naresh Goyal-led carrier recently.
A financial turnaround with the Etihad partnership and debt restructuring has not fully materialised.
Total revenue dropped to Rs 5,406 crore in the first quarter of the current financial year from Rs 5,508 crore in the same period a year ago
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.
Jet Airways Ltd said on Friday it made a profit in the June quarter compared to a loss in the year-ago period, helped by a drop in fuel expenses.
The aircraft was called back to the parking bay at the time of taxiing.
Battling to grab market share on international routes, Jet Airways has drawn up plans to make China a hub for flying to popular destinations like San Francisco and Los Angeles on the US west coast and to Vancouver in Canada in the near future. "It is much shorter to fly from China to the US west coast than from Singapore. This way, the yields on the routes will also be higher," said Jet Airways Chairman Naresh Goyal.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Six of these aircraft are currently on lease to Etihad Airways, set to start returning to Jetair's fleet in June
Jet Airways says its expansion plans are not linked with the $400 million qualified institutional placement issue
After a meeting of banks on Friday on ways to make funds available immediately, a source in the know said lenders other than SBI and Punjab National Bank had not come on board so far to chip in with their funds.
Jet Airways offers a huge packages toward arrears to pilots.
The airline notification to an exchange does not name the shareholder. It said the fund-raising would be subject to regulatory and corporate approvals.
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.
However, any progress on the deal depends upon Goyal giving up control of the company.
He urged employees to bear with him in this difficult situation a little longer, till the airline emerges out of turbulence and fiscal challenges.
A resurgent SpiceJet is spreading its wings and Vistara is set to challenge Jet on long-haul routes in the coming years.
Will be the first choice if Naresh Goyal decides to sell stake in future.
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.
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.
The Etihad delegation was led by its CEO James Hogan at the meeting, which was also attended by Jet Airways promoter Naresh Goyal.
Jet Airways' loss widened for FY15 on higher cost.
The airline has been defaulting on salaries for some time, making partial payments in some cases or not paying at all, as it continues to lose money mainly in domestic routes where it can't raise fares facing competition from low-cost airlines.
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