This is the first arrest under the Act which came into force in July 2017, replacing the 1982 vintage law, according to which an accused can face a maximum punishment of life imprisonment till death and his properties can be confiscated, police said.
Etihad said it would not participate in the rights issue or infuse fresh funds under the current terms and conditions of the resolution plan
Supreme Court on Friday stayed proceedings on petitions filed by Jet Airways and Air Sahara against each other at Mumbai and Lucknow courts.
No-frills carrier IndiGo's market share stood at 36.8 per cent in February while that of Jet Airways was 18.4 per cent.
Air Sahara on Wednesday filed a caveat in the Supreme Court to prevent Jet Airways from getting an ex-parte order on its transfer petition, which is likely to be filed on the same day.
The public sector carrier announced a new scheme -- 'Fly Select Fares' -- offering two levels of rates which were below the normal ones on select flights.
Last year, air traffic grew by 9.7%.
After allowing private Indian carriers to operate to the UK and Southeast Asia, government on Friday permitted Jet Airways to launch operations to New York from the ensuing summer season starting April.
Contrary to speculation that it was seeking to revise downward the value of Air Sahara, Jet Airways' move to make part payment till the pendency of other issues demonstrated its strong desire to acquire the rival airline.
There is fear amongst various lobbies with Jet Airways having taken over Air Sahara.
The hospitality sector has been hit very hard by the pandemic. In the past 18 months, it has lost business, first because of the harsh lockdowns and after that because of lack of demand due to the ensuing economic slowdown. Most hospitality businesses have sustained low revenues and losses since April 2020. Is this the classic case of a beaten-down cyclical sector that may be close to bottoming out?
The pilot applied the emergency brakes and the plane stopped on the runway itself.
Liquor baron Vijay Mallya on Thursday said the acquisition of Air Sahara by Jet Airways was expected and it would not affect his Kingfisher airlines as it was doing "well".\n\n
Jet Airways on Tuesday said it would commence its daily direct service on the Chennai-Singapore sector from December 7, using next generation Boeing B737-800 aircraft.
Jet Airways on Thursday announced the appointment of Wolfgang Prock-Schauer as chief executive officer and Peter Luethi as chief operating officer with immediate effect.
Jet Airways, the largest privately owned airline in India, is set to continue its global expansion with the commencement of direct flights from London to Mumbai on May 23
DGCA report shows IndiGo's continued dominance in market share with 30.7%, followed by SpiceJet at 20.9%.
Central Bureau of Investigation on Tuesday said it had not registered any case against Jet Airways for alleged "shady" funding of the private domestic carrier neither did it intend to carry out a preliminary enquiry into the matter.
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.
Leading private airline Jet Airways tops the list of defaulters among private carriers and owes Rs 2,437.90 lakh (Rs 24.38 million) to the government, the Lok Sabha was informed on Thursday.
Private sector airline Jet Airways will give its A340-300E aircraft on short-term wet lease to Air-India to operate a daily flight between Mumbai and London.
'We should have calmed down the child. We will do an internal analysis on that.'
Budget carrier IndiGo continued to be the largest player with a market share of 46.9 per cent ferrying 54 lakh passengers in March.
Taking Jet Airways head on in the renewed fare war, Air Sahara on Monday launched 'Steal Fares' scheme which would be lower than the normal fares subject to their availability on select routes and flights.
A day before the opening of its initial public offering, Jet Airways on Thursday said it will pay up to $7.5 million to acquire trademark and intellectual property rights from Naresh Goyal-promoted Jet Enterprises Private Ltd.
The watchdog has also asked the airlines to ensure various requirements are complied with by engineering and maintenance personnel with respect to 737 MAX planes.
A day after Sahara Airways operated its inaugural international flight, Jet Airways on Tuesday launched its Chennai-Colombo services.
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