Jet Airways has placed a $300 million order with US aeroengine major GE for supplying engines to power the Mumbai-based airline's Airbus A 330-200 fleet.
In the biggest aviation takeover in India, Jet Airways has struck a deal to buy Sahara Airlines for Rs 2,300 crore (Rs 23 billion), a move that would help Naresh Goyal promoted carrier to become the biggest domestic carrier.
Jet Airways pilots have warned the management of agitation if the airline fails to offer a concrete plan on payment of arrears amounting to Rs 100 crore (Rs 1 billion) by August 20.
The Naresh Goyal-promoted airline, which is beginning flights to London from May 23, will launch its flights to Newark via Brussels a month later, chief executive officer Wolfgang Prock-Schauer told reporters in Mumbai.
The Indian government allowed foreign airlines to buy up to 49 per cent stakes in Indian carriers in September 2012.
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.
Jet Airways -- which has been flying for 25 years - on Friday described reports that the airline cannot fly beyond 60 days as "incorrect and malicious" as well as denied any talks of stake sale.
The Securities and Exchange Board of India has cleared the initial public offer of Jet Airways.
Jet Airways, which inducted the 42nd aircraft in its fleet, has urged the government to allow domestic private carriers to fly abroad and also carry out their own ground handling.
Though public shareholding in Jet is already down to the mandated 25 per cent, the regulator wants its promoters to pare their stake further.
Jet Airways' Acting CEO and Chief Financial Officer Ravishankar Gopalakrishnan has resigned, sources said on Tuesday, the latest in the high-profile exit from the private carrier.
The two companies are hopeful of winning over at least one regulator's go-ahead this week itself for their deal, which happens to be the first FDI by a foreign airline into India.
Right from the early days of liberalisation, there have been political controversies surrounding several cases that landed on the FIPB table and which, in turn, have often led to court battles.
Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits, RAB Enterprises, and Doit Urban Ventures, allegedly controlled by them.
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.
Jet has come under regulatory scrutiny twice this year.
"It would be appropriate for you to include two representatives from us so as to better understand our concerns about the company, and also to enable the new shareholders to confidently expect a highly empowered and engaged workforce," Jet staff told SBI.
Etihad earns about 23 per cent of its passenger revenue from code-share and equity partners, and this would increase after its tie-up with Jet.
He urged employees to bear with him in this difficult situation a little longer, till the airline emerges out of turbulence and fiscal challenges.
The top-level exodus at Naresh Goyal-promoted Jet Airways continued on Friday, with chief financial officer and acting CEO Ravishankar Gopalakrishnan quitting.
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.
Currently, Etihad has 24 per cent shareholding in Jet Airways
Former Director General and CEO of IATA, Giovanni Bisignani, says Jet Airways chief Naresh Goyal developed his airline's business class mock-ups in utter secrecy inside the garage of his London home.
The unions also suggested banks can extend special and exclusive loans to the airline to pay the salary dues or some subsistence payments to them against proper collateral.
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 standoff between the government and the opposition in Parliament has showed no signs of easing after it erupted on the opening day of the Monsoon session on July 19.
The airline's chief financial officer Ravishankar Gopalakrishnan will be acting as the CEO.
The agreement between the two airlines came on the second day of the four-day state visit of Mukherjee to the country.
Some of its subsidiary airline JetLite's pilots have quit.
The IRP has admitted 33 claims from banks worth Rs 8,462 crore, and is verifying Rs 15,044-crore claims from operational creditors and staff.
State Bank of India on Monday invited bids from strategic as well as financial bidders for stake sale in ailing Jet Airways, and the bids have to be submitted by April 10, said a public notice.
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