A source said that the lenders have proposed to change the management of the beleaguered air carrier as they feel it is not possible to run the company with present management.
US-based co-working operator WeWork, Lowe's India, SpiceJet and startups like CureFit stepped in to offer employment to the distressed workers at Jet.
The public sector oil marketing firm stopped supplying fuel to the cash-starved carrier from 12 noon Friday.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
It had submitted an EoI for Jet as it wanted to understand the business scenario for the company and the industry.
Passengers holding confirmed RT tickets on Jet Airways will be allowed to avail special stranded passenger fares from the destinations common with Air India.
'Shah Rukh and I have a very good relationship.' 'When he is with you, he is completely yours, once he leaves the room, he doesn't know you.' Pamela Chopra discusses her life with her late husband Yash Chopra, and sons Aditya and Uday Chopra in an exclusive interview.
In the audio clip, he is heard directing the attack on Chabad House during Mumbai 26/11 terror attacks.
Ticket refunds remain a challenge, though Jet claims the amount would be credited in 7 to 10 working days after the request is processed.
A red alert was declared in 8 districts of Kerala on Thursday by the India Meteorological Department (IMD) as rains continued to lash various parts of the state and disrupted the day-to-day lives of the people as roads got flooded or caved in and many got displaced from their homes to relief camps.
Earlier in the day, Jet Airways faced operational disruptions across major airports when IOC refused to refuel its planes without clearing the outstanding amount.
Amid the prevailing situation in Ukraine due to the rising tensions with Russia, India has advised its citizens to temporarily leave Ukraine.
Banks are direct stakeholders and are dealing with commercial matters of the airline where the ministry would not like to intervene: Prabhu
The pilots and other senior staff have not been getting their full salaries since December.
Goyal was questioned by the Serious Fraud Investigation Office on Thursday in Mumbai in connection with allegations of some financial irregularities.
The watchdog would also endeavour to do its best to help the company revive its operations within the set regulatory framework.
DGCA has told the airline that only "air worthy" aircraft, which are completely fit for flying, should be used in operations.
Improvement in load factors, coupled with an increase in seat capacity after Jet's slots were allotted to low-cost airlines, has resulted in an increase in daily passenger traffic.
Alleging some "motives" behind the series of developments at the carrier, Jet Airways Officers & Staff Association president Kiran Pawaskar demanded a probe, preferably by CBI.
The summer schedule of flights of all other domestic airlines such as Vistara, IndiGo, Air India and GoAir have been approved till October 26.
Banks want government to retain 40 per cent of Jet slots at all airports to ensure a new owner can kick-start operations soon after taking over.
Jet Airways pilots along with engineers and senior executives have not been paid for the last three months.
Fadnavis has assured full support to work out a solution with Prime Minister Narendra Modi and civil aviation ministry after the last round of polling is completed and model code of conduct is withdrawn.
The firm, udChalo, is a portal founded by the wards of Army men and it provides for personal travel needs of armed forces, paramilitary forces and their family members.
Of the 22 planes it operated, 16 were on the domestic routes and the rest were deployed in the international routes.
More than 25 aircraft of Jet Airways has been grounded by lessors due to non-payment of lease rentals. The airline, which started the winter schedule with 103 planes, is now down to 83.
In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, "...Only wish the same was done for Kingfisher".
SBI is the lead lender to Jet Airways, which has a debt burden of more than Rs 8,000 crore.
Lenders are likely to convert part of the airline's debt into 11.4 crore shares at a consideration of Re 1 apiece as per RBI norms.
While the interest from Hinduja is a positive sign for the grounded airline, executives of banks cautioned that there is no certainty that the deal will fructify. The cost of recapitalising Jet Airways is increasing every day.
A free and open aviation market, where the government keeps the interest of consumers higher than saving any airline.
Court order follows submission of govt lawyers that Serious Fraud Investigation Office was probing a case of misappropriation of fund by Jet Airways and Goyal.
Flight cancellations and subsequent grounding of Jet Airways adversely impacted seat capacity in the domestic market which also resulted in fares going up.
When it was operational, Jet Airways had over 22,000 employees of them over 16,000 were on the rolls.
Want last year's bonus? Sell our tickets: Jet Airways tells travel agents.
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.
Sources said Gandhi left for Milan in Italy on a Qatar Airways flight in the morning.
The first hurdle is how long Jet Airways can enjoy rights over its parking slots at various airports.
Stock exchanges will impose restrictions on trading in Jet Airways shares from June 28 as part of preventive surveillance measures to curb excessive volatility.
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