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Jet Airways debt News

22 Aug 2019

NCLAT asks Jet CoC if it will work with Dutch administrator

The debt-riddent Jet Airways is facing insolvency proceedings in The Netherlands too. It was declared bankrupt there after it had failed to pay two European creditors. The Dutch court subsequently appointed a bankruptcy administrator.

09 Jul 2019

Delhi HC refuses to quash Look out Circular against Jet promoter Naresh Goyal

Naresh Goyal had moved High Court seeking direction to quash the LOC issued against him. He also sought the quashing of certain office memoranda issued against him.

28 Jun 2019

Jet Airways Employee Consortium, AdiGroup to bid for 75% of airline

The debt-laden company became the first domestic airliner to go into bankruptcy after the Mumbai Bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by the SBI on behalf of 26 lenders on June 20.

24 Jun 2019

Insolvency proceedings initiated against Jet Airways; NCLT appoints IRP

The NCLT bench comprising VP Singh and Ravikumar Duraisamy set a 90-day deadline to the IRP to conclude the resolution process, even though the bankruptcy law allows 180 days for the same.

19 Jun 2019

Jet Airways: Pilots, engineers unions want to be made parties in NCLT hearing

A consortium of 26 bankers led by the SBI took the cash-strapped airline to the NCLT to recover their dues of over Rs 8,500 crore.

21 May 2019

Evaluating Jet Airways opportunity, says Hinduja Group

Lenders to the full service carrier, which temporarily shuttered operations on April 17 as it ran out of cash, is looking for possible suitors.

02 May 2019

Prepaid forex cards held by Jet Airways staffers frozen

The cards were given to the Jet staff operating international flights for taking care of the expenses incurred overseas.

18 Apr 2019

''Can't sleep at night'': Despair over jobs as Jet Airways grounded

Thousands of employees have been stung by the rapid unravelling of Jet Airways, which, saddled with more than $1.2 billion in bank debt, grounded all its planes on Wednesday after lenders rejected a plea for emergency funds.

18 Apr 2019

Lenders agree to get bids from investors for survival of Jet Airways

The lenders expressed hope that the bidding process is likely to be successful in determining the fair value of Jet Airways in a transparent manner.

17 Apr 2019

Banks reject Rs 400 crore emergency funding for Jet Airways

Jet will be the seventh airline to go down since May 2014 and the 13th one after East West was shuttered.

16 Apr 2019

Jet Airways likely to cancel all flights temporarily

The carrier, which has more than Rs 8,000 crore debt, is currently operating less than 10 aircraft.

25 Mar 2019

`Good outcome from creditors-company negotiations better than insolvency`

He was responding to a query on whether Jet Airways is a fit case to be referred under the Insolvency and Bankruptcy Code (IBC).

20 Mar 2019

Lenders to make every effort to keep Jet Airways flying: SBI

The pilots union of Jet Airways had on Tuesday threatened to stop flying from April 1 if their salaries are not paid by March 31.

14 Mar 2019

Decision on funding to Jet Airways to be on collective basis, says PNB

In a filing to exchanges, Jet Airways had earlier clarified it has not received any fresh loan from PNB.

Jet Airways crisis

25 Feb 2019

Jet shares fall 3% on reports of SBI mulling moving NCLT against airline

The cash-strapped full service carrier is looking to rejig debt and raise funds, even as it has been forced to ground two more aircraft due to non-payment of dues to lessors.

18 Jan 2019

Monitoring Jet Airways; specific airline probs need specific Measures

IATA also feels that the Indian ecosystem needs to support the sustainability of airlines in the country.

14 Jan 2019

Naresh Goyal to give up majority control in Jet, Etihad to raise stake to 49%

Jet, which is India`s biggest full service carrier by market share, is in desperate need of cash.

27 Nov 2018

Jet Airways layoffs: Airline fires 16 more people to cut cost

These employees were working as ground staff in Jet Airway's Kochi and Hyderabad offices, as per the source.

16 Nov 2018

Tata Sons board may discuss plans to snap up Jet Airways today

Media reports suggest that the parent company of Vistara, Tata-Singapore Airlines, is looking at all-stock merger with Jet Airways as part of the Tata group's plans to board Goyal's full service carrier.

15 Nov 2018

Tata looks to reclaim the skies in Jet Airways stake talks

Should a deal with Jet succeed, Tata would gain access to hard-to-get parking slots at Mumbai`s congested airport, most of which are occupied by the 25-year-old airline.

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