The move comes a day after an urgent meeting of lenders with Goyal and Etihad Airways chief executive officer Tony Douglas to resolve various issues between the two promoters as well as lenders and Etihad.
Kamala's role as vice president was more than just symbolic. Unlike her predecessors, she wielded considerable power during Biden's presidency.
Jet Airways has been looking at various ways to raise funds amid acute liquidity crunch that has forced it to ground aircraft, cancel flights in large numbers, shutdown stations and delay salary payments to its pilots and engineers along with other senior staff.
Etihad said it would not participate in the rights issue or infuse fresh funds under the current terms and conditions of the resolution plan
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.
Manchester City clinched a 1-0 victory at Tottenham Hotspur, while Chelsea were held to a 0-0 draw at home by Aston Villa.
Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.
Ben Stokes and his team-mates have their task cut out as they look to emulate Alastair Cook-led England's historic India series win in 2012.
IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet.
Two suspects were arrested after the shooting at STEM School in Highlands Ranch, which has over 1,800 students.
'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.
Images from the English Premier League matches played on Saturday night.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
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 pilots and other senior staff have not been getting their full salaries since December.
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.
Ross and Rachel end their super long break. Kate Winslet solves Easttown's grimmest mystery. Huma Qureshi gets political in Bihar. All this and more on OTT this week notes Sukanya Verma.
British Chancellor Gordon Brown has put the ruling Labour Party on high alert for a general election possibly next year, immediately after taking over as its new leader.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
Images from the English Premier League matches played on Saturday.
Brazilian Douglas Costa was in fine form as Bayern Munich beat Real Madrid 1-0 in a pre-season tournament.
Images from Saturday's action in the Premier League.
'It's pretty likely that Kissinger, Rice et al came bearing gifts (read Trojan Horses) from McDonnell Douglas, Boeing, Grumman, Northrop, and all the other Military Industrial Complex stalwarts,' argues Rajeev Srinivasan.
President-elect Joe Biden's low-key inauguration on January 20 will include a Pass in Review on the East Front, a presidential escort to the White House, and a virtual parade across America following his official swearing in at the United States Capitol, the Presidential Inaugural Committee has announced.
The 71st Emmy Awards have been announced, and there have been quite a few surprises and some expected nods.
Kamala Harris is now the first woman, the first Black American and the first Asian American to hold the country's second highest office, and is now in a strong position to run for the top job four years from now.
Who won at the Globes? We tell you!
Be ready to be amazed as Rediff.com encapsulates all the sporting action from the past week in this super photo feature.
The 77th Annual Golden Globe awards have been announced. There were a few surprises and some expected nods. A quick glance at the winners, listed in bold.
China continued to put up dominating performances in the pool, this time taking gold in women's 10 metre synchronized diving on Tuesday. Slovenian Judoka Tina Trstenjak became her country's second Olympic champion in the sport.
The top posts on social media from your favourite Bollywood celebrities.
The 65th Emmys will be held on September 22 in Los Angeles.
News of all that's transpired on and off the football field
News of all that's transpired on and off the football field
Martin Scorsese's The Wolf Of Wall Street could set a bad precedent, feels Aseem Chhabra.
Edinson Cavani scored early for Paris St Germain but a series of wasted chances came back to haunt them as Ajax Amsterdam equalised late to deny the French a winning start on the road in a 1-1 draw in Champions League Group F on Wednesday.
News of all that's transpired on and off the football field
From Boyhood to The Grand Budapest Hotel, we've seen some brilliant cinema this year.
'Imagine how secure are our seaports and airports that 10,000 objects can leave every decade and our custodians are not even aware?' 'This kind of targeted looting when thieves pick and choose the best of Indian art and steal on an industrial basis will eventually impoverish our great land.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances