The Tokyo Olympics had originally been scheduled for 2020 but were postponed by a year because of the pandemic.
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.
A consortium of 26 lenders led by the SBI, with 51 per cent stake in the debt-trapped airline, has invited bids from potential suitors.
'Shouldn't the DGCA ensure both safety and convenience of passengers?' 'And convenience has been a casualty as nobody knows which Jet flight would be grounded next, throwing passengers' plans in disarray,' says Nivedita Mookerji.
'Shouldn't the DGCA ensure both safety and convenience of passengers?' 'And convenience has been a casualty as nobody knows which Jet flight would be grounded next, throwing passengers' plans in disarray,' says Nivedita Mookerji.
Singapore Airlines has given new brand names to two carriers it controls - SilkAir (short-haul) and Scoot (low-cost, long-haul.
The seven Indian-Americans are cybersecurity firm ZScaler CEO Jay Chaudhry, founder and chairman of Symphony Technology Group Romesh Wadhwani, cofounder and CEO of online home goods retailer Wayfair Niraj Shah, Silicon Valley venture capital firm Khosla Ventures founder Vinod Khosla, managing partner of Sherpalo Ventures Kavitark Ram Shriram, Airline veteran Rakesh Gangwal and Workday CEO and co-founder Aneel Bhusri.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
Modi's 'UDAN' project faces fund crunch as too many airlines have come on board
The move will help to reduce Air India's distribution cost by 60 per cent
In an emotionally-charged letter to the 22,000-strong employees, Goyal said the approval of the debt-recast plan will put the carrier on a "sounder and sustainable" financial footing.
The presence of the private sector at a prestigious military training institution is an important acknowledgement of its growing capabilities in designing and manufacturing cutting edge aerospace and defence equipment, reports Ajai Shukla.
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.
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
A consortium - comprising Imperial Capital, Flight Simulation Technique Centre, and Big Charter - have placed a bid for Jet, while the other consortium is led by Kalorck Capital.
Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
A consortium of banks led by SBI had alleged that Mallya concealed the facts and diverted the money to his son Siddharth Mallya and daughters Leanna Mallya and Tanya Mallya in flagrant violation of the orders passed by the Karnataka HC.
Singapore Airlines first approached the Tatas, its old choice for a venture in India, and was aware of AirAsia negotiations.
The sudden massive cancellations of Jet have put travel agents and customers in jeopardy
With this, the biggest buyer of Airbus SE A320neo planes seems to be moving away from Pratt & Whitney engines, which have been experiencing glitches. CFM International will deliver the first engine by 2020.
Banks stuck with miles purchased from Kingfisher Airlines, halt fresh buys
The possible date for bidders to submit a resolution plan to the adjudicating authority -- National Company Law Tribunal (NCLT) -- is September 27.
Etihad said it would not participate in the rights issue or infuse fresh funds under the current terms and conditions of the resolution plan
The company agrees to give interim funding till the airline gets an equity partner
The average fares of all airlines are almost linear.
Last year, Jet Airways and Air France-KLM signed an enhanced cooperation agreement' for the development of their operations between Europe and India
China has completed its new mega airport in Beijing after four years of construction, three months ahead of its planned grand opening. Measuring at 1.03 million square metres -- about the size of 144 football pitches -- the Beijing Daxing International Airport will be the world's largest airport terminal, according to Xinhua News. Here's a peak at the gargantuan structure.
Ninety years later, BA counts the country as its second-biggest overseas market after the US.
Vijay Mallya-led UB group's aviation entity further said that all its flights will continue to operate normally as per the schedule published on its website.
The controversial 5/20 rule required an airline to have five years of domestic operations and 20 aircraft in its fleet to be able to fly abroad.
The Federation of Indian Airlines had challenged the aviation regulator's decision this week to issue an operating permit to AirAsia India.
The DGCA has allowed SpiceJet to accept advance bookings beyond March 31.
Options include fresh capital infusion by the management and/or some new investors.
Consumers can easily file cases against e-tailers now.
Marking an entry into the high-profile Formula 1 circuit, liquor baron Vijay Mallya-promoted Kingfisher Airlines has inked a multi-year partnership deal with Toyota Motorsport
This partnership also marks for the first time ever that an Indian airline has partnered on this scale with anyone in the F1 circuit worldwide.
Clearance of dues is a key step in airline's revival.
AirAsia has come under scrutiny since June when GMT Research issued a critical report questioning its accounts.
National carrier Air India is running in losses and needs government's attention.
Carriers' input costs are rising due to weak rupee and rising crude oil price.
