Lenders of bankrupt airline Jet Airways, led by the State Bank of India (SBI), on Thursday told the Supreme Court that successful bidder Jalan Kalrock Consortium (JKC) was "unwilling" to pay the dues and that the "liquidation" was the only option left. The bench led by Chief Justice of India (CJI) DY Chandrachud was hearing the SBI-led consortium plea against the NCLAT's March order upholding ownership transfer of the bankrupt airline to JKC.
Aviation companies plan to join hands for importing aviation turbine fuel (ATF) in a bid to bring down their fuel bills.
In a sudden development, DGCA chief E K Bharat Bhushan was on Tuesday removed as head of the aviation regulator with immediate effect, six days after his tenure was extended till this year end.
The Centre for Asia-Pacific Aviation also expects India's airlines to post a combined loss of a whopping $1.4 billion, with Air India likely to be the 'worst performer' to report a loss of almost the entire amount of $1.3 billion.
While Air India owes Rs 450 crore (Rs 4.5 billion), beleaguered Kingfisher Airlines has unpaid dues of Rs 75 crore (Rs 750 million) and both carriers have been put on the cash-and-carry mode of payment.
The vertical separation between Air India flight IC-941 from Hyderabad to Delhi and Kingfisher Airlines' Delhi-to-Bhubaneshwar flight IT-3345 came down to 700 feet as against the required 1,000 feet when they were manoeuvring over Delhi airspace.
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