Mallya claims private airlines were discriminated against by the Indian government, which bailed out state-owned Air India but did not assist his own Kingfisher Airlines and now Jet Airways.
From a surge in airfares to rattled aircraft lessors to thousands of employees staring at uncertainty, it has been a month of continued turbulence since cash-strapped Go First suspended flights from May 3. As the government and other stakeholders hope that Go First restarts operations at the earliest, plans are being worked out for the budget airline's revival. A section of Go First staff are optimistic about restarting of operations, another section are pessimistic about the airline's future course considering what had happened to erstwhile Kingfisher Airlines and Jet Airways, according to employees who spoke to PTI.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
An official of the aviation regulator DGCA had said that the pilots aborted the take off after they were informed about a 'barrier' on the runway
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.
He urged employees to bear with him in this difficult situation a little longer, till the airline emerges out of turbulence and fiscal challenges.
However, the tribunal rejected the plea by the Netherlands based vendors for filing an intervention application, saying the Dutch district court had no jurisdiction to order bankruptcy of Jet Airways.
A video clip of the heated exchange onboard the flight on December 16 was shared on social media on Wednesday.
The petition said that acts of the Centre and DGCA were highly prejudicial to employees of the company who have been waiting to get paid for the last five months and have been looking forward to the resolution in bid process.
'Airports must look at their maximum capacity to handle passengers.'
Together with Jet Airways we will have 61 flights to Amsterdam and Paris during the winter season. That also makes us the second largest airline group after Lufthansa, which has 67 weekly flights, and we are catching up to become the first, says KLM CEO Pieter Elbers.
The salaries for August were to be paid in two instalments -- 50 per cent by September 11 and the remaining by September 26.
Nidhi Chaphekar, a Jet Airways crew member who was injured in the Brussels airport bombings, has been discharged from a hospital in Mumbai.
Jet's operating fleet reduced from 103 planes in October 2018 to 35 now, leading to massive cancellations and a surge in airfares
Jet Airways has also been asked to provide details of the pilots who are "habitual" of reporting sick and disrupting the airline's schedule, an official said.
A SpiceJet official allegedly told some Jet pilots that they were doing a "charity" by hiring them.
He was also the first to be booked under the stringent Anti-Hijacking Act which had replaced the vintage law of 1982.
Jet and Etihad stand to benefit from cost savings and synergies in areas such as fleet acquisition, maintenance and training.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
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.
According to media reports, Securities and Exchange Board of India is debating whether to reopen the issue of an open offer for shareholders of Jet Airways after another regulator said that Etihad enjoys joint control over the Indian airline.
Over 30 passengers have suffered ear and nose-bleed after the crew on Jet Airways flight 9W 697 reportedly forgot to select a switch that helps maintain cabin air pressure
Nidhi, 42, who has not yet recovered from the injuries suffered in the terrorist attack, arrived around 7.30 am on Friday on a Paris-Mumbai Jet airways flight and was driven to Breach Candy hospital from the airport.
Last year, Jet Airways and Air France-KLM signed an enhanced cooperation agreement' for the development of their operations between Europe and India
In a rare move, the DGCA has filed a police complaint against 34 pilots of Jet Airways, IndiGo, SpiceJet and GoAir.
Tickets can be booked from its counters, on the website, on the mobile app, or through agents
The decision to allot vacant slot to other carriers has been taken to reduce the inconvenience of passengers and facilitate induction of additional capacity.
Jet said three of its aircraft were temporarily grounded for engine normalisation and are expected to rejoin scheduled operations on February 1.
Domestic air traffic in April this year consisted 10.99 million passengers as compared to 11.51 million passengers in the same month last year, signifying a fall of around 4.5 per cent,
SBI chairman Rajnish Kumar said Naresh Goyal would be eligible to bid for the airline when the lenders auction it next month.
Though NCLT has extended window to find a buyer, bankers don't see much hope of a deal.
With full-service carrier Jet Airways and budget airline SpiceJet operating 737 MAX planes, the DGCA has decided to seek information about the aircraft from Boeing as well as the two domestic carriers in view of the air crash in Ethiopia.
Tata Group-owned AirAsia India, which is in the process of being merged with Air India Express, has taken short-term loans worth Rs 630 crore during the last six months to deal with cash crunch. AirAsia India has been making losses since its first commercial flight on June 12, 2014. Its net loss increased by 42 per cent to Rs 2,178 crore in FY22.
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.
Once again, there seems to be an airfare war in India.
Wadia Group-owned Go First Airways' (Go First) insolvency plea could trigger a 'momentum rally' in shares of rival airlines, Interglobe Aviation (parent company of IndiGo) and SpiceJet, as they look to gain bankrupt airline's market share, said analysts. On the bourses, shares of InterGlobe Aviation hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE in Wednesday's intra-day trade, before settling 4.5 per cent higher at Rs 2,164 apiece. Those of SpiceJet and Jet Airways, meanwhile, rallied up to 6 per cent in the intra-day trade, and ended 1 per cent and 5 per cent higher, respectively, following the development, which was announced post market hours on Tuesday.
Independent directors were supposed to safeguard the interest of all stakeholders.
The airline owes lakhs of rupees to passengers and its vendors.
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.
The aviation sector is upbeat, with Jet Airways and SpiceJet recording profits in the quarter ended June and foreign institutional investors (FIIs) increasing their stakes in all the three listed carriers Jet Airways, Kingfisher Airlines and SpiceJet.
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