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<ul><li>Lenders of grounded <keyword id="6358200" type="ORGANIZATION" weightage="20" keywordseo="jet-airways">Jet Airways</keyword> decide to take the defunct airline to bankruptcy court </li><li>The process to find a buyer failed as there was only one bid and that too was, a conditional one. </li><li>The stock of Jet Airways fell 18% on Tuesday to a new all-time low </li><li>The hearing at insolvency court is expected to be held on June 20 </li></ul>Jet Airways’ lenders have given up hope of saving it from bankruptcy, as they have moved the matter to Insolvency and Bankruptcy Court (IBC). “After due deliberations, lenders have decided to seek resolution under IBC since only a conditional bid was received and requirement of the investor for SEBI exemptions and resolution of all creditors is possible under IBC,” said a statement by lenders of Jet Airways, after a meeting today. It means that a sale process can be still be carried on under the auspices of IBC. Lenders led by State Bank of India (SBI) have been taking efforts to find a resolution for Jet Airways outside IBC. But considering the joint bid by the Hindujas and one of Jet’s existing investors, Etihad, fizzled out, they have decided to move it to IBC. Stock price crash In anticipation of such a move, the stock of Jet had crashed in trade today. The stock lost over 17% on Monday as the lenders had met and made a last-ditch attempt and discuss options to keep it away from bankrupcy. The airline stalled operations on April 17 after the State Bank of India (SBI) refused to extend an additional loan. It has an outstanding loan of around ₹85 billion which it owes to a clutch of lenders. The hearing at insolvency court is expected to be held on June 20 after an appeal by two of its creditors, Shaman Wheels and Gagar Enterprises, to recover their dues. In spite of being the country’s second largest carrier before the ongoing crisis, the airline came under financial stress due to untoward expansion plans leading to debt, coupled with increase in fuel and other operational costs. Saving private Jet Lenders had been known to try various methods like giving an ultimatum to possible bidders like Hindujas and Etihad to close a deal. These talks were known to hit a roadblock after <a href="https://www.businesstoday.in/markets/company-stock/jet-airways-share-price-falls-hinduja-etihad--airways-ailing-airline/story/355087.html">business group Hindujas</a> reportedly sought tough conditions for investment. Yet another option was to sell the ‘Jet Airways’ brand to an interested investor. Another plan up the sleeve of the lenders was to take a substantial haircut on their loan, is to pay up and take charge of Jet’s aircraft. This plan was however low on their agenda for the lenders had been hoping that the shuttered company does not go down, taking their money with it. SEE ALSO: <a href="https://www.businessinsider.in/indigo-spicejet-and-goair-airfares-soar-despite-empty-seats/articleshow/69684642.cms" data-type="tilCustomLink" target="_blank">Indian airlines have more empty seats these days but their profits are soaring like never before-- and no one seems to care</a>

Jet Airways is headed to bankruptcy court as bankers fail to find a buyer

Jalan Kalrock Consortium, the winning bidder for the revival of grounded carrier <keyword id="6358200" type="General" weightage="20" keywordseo="Jet-Airways" source="Orion">Jet Airways</keyword>, on Friday said it has infused an additional Rs 100 crore in the airline as per the court-approved resolution plan. With this, the consortium has "fulfilled" its total financial commitment of Rs 350 crore to revive the airline, which would pave the way for it to take over the ownership of Jey Airways, JKC (Jalan Kalrock Consortium) said in a statement. JKC also said it is expecting the airline to be up and running next year with the launch date likely to be announced in the next few days. Jet Airways has not flown since April 17, 2019. "Kalrock Consortium (JKC) today completed an additional infusion of 100 crore, reaffirming its unwavering commitment to a successful resurgence of Jet Airways," the consortium said in the statement. "With this infusion, JKC has now fulfilled its total financial commitment of Rs 350 crore equity as per the court-approved resolution plan, and all commitments by JKC now stand fulfilled to take control of the iconic airline," it added. It also said that the consortium's strategy to revive the airline remains unaltered. "The new promoters are determined to re-establish the operations of the airline up and running in 2024," it said and added that further announcements regarding the launch date of Jet Airways will now be made in the coming weeks.

Jet Airways hits upper circuit after Jalan Kalrock Consortium infuses Rs 100 cr more

<ul><li>Shares of <keyword id="6358200" type="General" weightage="20" keywordseo="jet-airways" source="Orion">Jet Airways</keyword> (India) were locked in a 5% upper circuit at ₹90.30 on Friday on news that the airline is in talks with Boeing Co and Airbus SE for an order worth $12 billion.</li><li>The airline, which has been grounded since 2019, is expected to resume its operations in the first quarter of FY23.</li><li>The new owners Jalan-Kalrock consortium's resolution plan for Jet was approved by a bankruptcy court in June.</li></ul>Shares of Jet Airways (India) are in the spotlight as the stock is locked in a 5% upper circuit at ₹90.30, on December 3, on news that the airline is in talks with aircraft manufacturers Boeing Co and Airbus SE for an order worth $12 billion. BloombergQuint reported that new owners -- Murari Lal Jalan and Kalrock -- said it could buy at least 100 narrow-body aircraft. The group is set to invest about $200 million through equity and debt in Jet over the next six months, said the media firm in a tweet. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> The airline has been through a lot of turbulence in the last couple of years and is now in the news for resuming its operations by adding new aircraft. Jet Airways went to bankruptcy court after being grounded in April 2019. Later in June 2021 new owners -- UK-based Kalrock Capital Partners and UAE-based businessman Murari Lal Jalan -- took over the defunct airline. Now the airline is expected to resume its domestic flights in the first quarter of the next financial year that starts from April 1, 2022. <div type="image" title="jet air" height="900" width="1200" msid="88067635" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/poor-demand-for-star-healths-ipo-forces-investment-bankers-to-cut-down-on-promoter-offerings/articleshow/88065207.cms">Poor demand for Star Health’s IPO forces investment bankers to cut down on promoter offerings; GMP at ₹10 discount</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/no-crypto-ban-in-india-sebi-will-reportedly-be-pulled-in-to-regulate-the-sector/articleshow/88065166.cms">No crypto ban in India — SEBI will reportedly be pulled in to regulate the sector</a>

Jet Airways stock flies on news that the airline is in talks to buy 100 aircraft ahead of its comeback

<ul><li>The stocks of the grounded airline <keyword id="6358200" type="ORGANIZATION" weightage="20" keywordseo="jet-airways">Jet Airways</keyword> have more than quadrupled investors' wealth since September 30 after a massive rally.</li><li>Murari Lal Jalan of the Jalan-Kalrock consortium said that they expect to restart the defunct airline's operations in four to six months after receiving approval from the NCLT.</li><li>In an interview, the new promoters said the company would retain the 'Jet Airways' brand and keep the airline public.</li></ul>The grounded airline Jet Airways’ stocks have more than quadrupled investors' wealth since September 30 after a massive rally. The 308% jump in its shares in just four months has made investors curious despite the airline being grounded after incurring heavy losses, the airline stock has been able to woo people to fuel up its share price. <div type="image" title="Jet share price (1)" msid="81154639" hostid="261"></div> Meanwhile, the stock was today locked in an upper circuit when the broader market plummeted by over 1100 points, and its listed peers IndiGo, SpiceJet were down 4% and 3%, respectively, amid weak global cues. <div type="Article" hostid="261" msid="81150110" title="One in every five rupees lent by SBI to individuals, goes to government employees" mstype="2" mssubtype="0"></div> Here's what made the investors cheers despite an overall selloff: The new owner is in a hurry to take the airline airborne with 25 aircrafts Murari Lal Jalan of the Jalan-Kalrock consortium told PTI that they expect to restart the defunct airline's operations in four to six months after receiving approval from the National Company Law Tribunal (NCLT) for its resolution plan. Earlier in December last year, Jalan said that it plans to operationalise Jet Airways by the summer of 2021, subject to certain conditions. The NCLT likely to take a final call on the airline's resolution plan, the winning consortium's lead member Murari Lala Jalan told that "everything is on track" as far as the revival efforts for the carrier are concerned. Stressing that he is very positive about the Indian aviation sector, the new owner of Jet Airways said that initially, the airline would resume flying with around 25 aircraft. "We are very hopeful that it (NCLT nod) will come," he said, adding that a delay of one or two months here and there would not make a difference for such a big thing as reviving the airline. The company plans to remain public In another interview, the new promoters said the company will retain the 'Jet Airways' brand and will keep the airline public. "We will definitely continue the way it was. Jet will remain a full-service offering...The name of the airline will also remain unchanged, Jalan told <a href="https://www.livemint.com/companies/news/jet-to-remain-public-restart-with-25-planes-11613953029156.html">LiveMint</a>. Jalan further added that the company also has plans to rehire some of the old employees. "Jet's former staff are assets and we will definitely want to look after them. We will do whatever is possible and whatever is practical. They are human capital, and experienced professionals, who we are looking forward to working with," he added. All plans in place While there has been a curiosity that even if the airline can cope with the delays of NCLT and other paperwork, will it be able to secure its slots? Jalan, in its interview, made it clear that the airline will get its slots back. "We are very optimistic. We have been assured by the ministry (of civil aviation) that whatever slot is required will be made available. Also, a lot more slots are available now than what a year ago. I don't foresee any problem with slots," said Jalan. The company also plans to keep Delhi, Mumbai, and Bengaluru as its hub like before. The revival plan proposes to support Tier-2 and Tier-3 cities by creating sub-hubs in such cities. Likely turbulence that investors should not ignore Jet Airways, the once-storied full-service carrier, was grounded in early 2019 and subsequently is undergoing proceedings under the Insolvency and Bankruptcy Code (IBC). This despite the tribunal itself classifying the case as one of national importance, there were no hearings at the NCLT between October last year and early February. The law mandates that the corporate insolvency resolutions process (CIRP) to be finished within 330 days after proceeding. However, in the case of Jet, the process has crossed over 530 days. SEE ALSO:<a href="https://www.businessinsider.in/politics/india/news/puducherry-government-falls-as-chief-minister-v-narayanasamy-loses-trust-vote-in-assembly/articleshow/81148119.cms">Puducherry Chief Minister V Narayanasamy resigns after Congress-led govt loses majority</a><a href="https://www.businessinsider.in/politics/india/news/puducherry-government-falls-as-chief-minister-v-narayanasamy-loses-trust-vote-in-assembly/articleshow/81148119.cms"></a> <a href="https://www.businessinsider.in/careers/news/deutsche-bank-plans-to-hire-1000-freshers-in-india-as-it-looks-to-build-core-technologies-in-house/articleshow/81147886.cms">INTERVIEW: Deutsche Bank plans to hire 1,000 freshers in India as it looks to build core technologies in-house</a>

This defunct airline’s stock has grown four times in just over 4 months — here's why

<ul><li>Lenders of grounded <keyword id="6358200" type="ORGANIZATION" weightage="20" keywordseo="jet-airways">Jet Airways</keyword> are working out different ways to ensure it does not end up bankrupt </li><li>Shares traded on June 17 and traded at a new 52-week low of ₹66.4 </li><li>The hearing at insolvency court is expected to be held on June 20</li></ul>Days ahead of an insolvency hearing, lenders of grounded Jet Airways are working out different ways to salvage <keyword id="7767413" type="UNKNOWN" weightage="20" keywordseo="jet-airways-from-bankruptcy">Jet Airways from bankruptcy</keyword>. But the shareholders are panicking already. The stock lost over 17% on Monday even as the lenders prepare to meet later today to discuss the various options that can help to turn around the airline The airline stalled operations on April 17 after the State Bank of India (SBI) refused to extend an additional loan. It has an outstanding loan of around ₹85 billion which it owes to a clutch of lenders. The spurt in volume of shares traded on June 17 took the stock to a new all-time low of ₹66.4. The hearing at insolvency court is expected to be held on June 20 after an appeal by two of its creditors, Shaman Wheels and Gagar Enteprises, to recover their dues. In spite of being the country’s second largest carrier before the ongoing crisis, the airline came under financial stress due to untoward expansion plans leading to debt, coupled with increase in fuel and other operational costs. How to save Jet Lenders are now trying various methods like giving an ultimatum to possible bidders like Hindujas and Etihad to close a deal. These talks were known to hit a roadblock after oil to hospitals<a href="https://www.businesstoday.in/markets/company-stock/jet-airways-share-price-falls-hinduja-etihad--airways-ailing-airline/story/355087.html"> business group Hindujas</a> as per reports. Yet another option is to sell the ‘Jet Airways’ brand to an interested investor. Another plan up the sleeve of the lenders who are expected to take a substantial haircut their loan, is to pay up and take charge of Jet’s aircraft. This plan is however how on their agenda for the lenders who have been hoping against hope that this shuttered company does not go down, taking their money with them.

Jet Airways shares slump over 17% as investors get anxious before the last word from bankers

Carrier <keyword id="6358200" type="General" weightage="100" keywordseo="jet-airways" source="Orion">Jet Airways</keyword> is on shaky ground and its shares declined more than 15 per cent in three days, revealed stock exchange <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> on Wednesday. Many developments, pertaining to the airline, have occurred in a span of 1-2 weeks. According to reports, the aviation security agency BCAS on Wednesday withdrew the accreditation given to Jet Airways' aviation security training facilities while last Monday, the airline temporarily cut the salaries of some staff by up to 50 per cent and some were sent on leave without pay. In five days, the shares of the airline, which is currently at Rs 65.55 apiece, went down by almost 18 per cent while its shares declined 30.74 per cent in the past month. Its shares had been dropping by 45.01 per cent in the past six months. Adding one more hurdle to the headwinds, the aviation security agency Bureau of Civil Aviation Security (BCAS) has withdrawn the accreditation given to Jet Airways' aviation security training facilities amid continuing uncertainty over the recommencement of the airline's operations, "The competent authority has revoked the accreditation granted to both the Aviation Security Training Institutes (ASTIs) of <keyword id="15595241" type="General" weightage="50" keywordseo="jet-airways-at" source="Orion">Jet Airways at</keyword> <keyword id="11900977" type="General" weightage="50" keywordseo="gurugram" source="Orion">Gurugram</keyword> and Mumbai. The airline may apply afresh for approval of its ASTIs as and when it is ready for inspection...," BCAS said in a communication. According to reports, the Jalan Kalrock consortium has emerged as the winning bidder for the bankrupt airline through an insolvency resolution process. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/bajaj-pulsar-p150-with-an-air-cooled-engine-launched-at-1-17-lakh/slidelist/95709491.cms">Bajaj Pulsar P150 with an air-cooled engine launched at ₹1.17 lakh</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/vocal-for-local-online-commerce-unicorn-meesho-joins-ondc-to-aid-local-sellers/articleshow/95704818.cms">Vocal for local: Online commerce unicorn Meesho joins ONDC to aid local sellers</a>

Jet Airways' shares decline 15% in 3 days as headwinds gather

<ul><li>The National Company Law Tribunal admitted plea State Bank of India's (SBI) plea against Jet Airways. </li><li>SBI and 26 lenders filed a case against Jet as per Insolvency and Bankruptcy Code (IBC). </li><li>With a debt of over ₹85 billion, Jet was declared bankrupt by a court in The Netherlands. </li></ul>The bankruptcy proceedings of Jet Airways have started as National Company Law Tribunal (NCLT) admitted the plea of its largest lender, State Bank of India (SBI) on Thursday. A two-judge bench which heard the case of SBI and 26 other lenders, also directed an interim resolution professional to resolve the matter within three months. In anticipation of a possible resolution to the airline’s crisis which was grounded in April 17, the stock of the company rallied today. It went up by 120% at one point, hitting the upper circuit. As the markets closed, <a href="https://www.businessinsider.in/jet-airways-stock-springs-a-surprise-gains-by-66/articleshow/69872150.cms" data-type="tilCustomLink" target="_blank">it ended 93% higher</a> than the closing price a day before. The Bombay Stock Exchange sought a clarification from the company on the price increase. Earlier this week, the lenders of the bank including State Bank of India, met to find a possible solution to stop it from going bankrupt. But they could find <a href="https://www.businessinsider.in/jet-airways-is-headed-to-bankruptcy-court-as-bankers-fail-to-find-a-buyer/articleshow/69826885.cms">no viable option</a>, leading it to National Company Law Tribunal (NCLT). Jet Airways has been in debt of as much as ₹85 billion, due to making bets on expansion as competition in the aviation sector heightened. The increased costs of running an airline like aviation turbine fuel (ATF) also went up, deepening the crisis at the debt-ridden company. After the company went belly up, two of its creditors, Shaman Wheels and Gagar Enterprises moved approached the insolvency court, to recover their dues. In the meanwhile, the airline also owes salaries to its pilots and other staff and The National Aviators Guild has sent a notice demanding the same. The guild also threatened to join insolvency proceedings if they fail to pay up. The airline however has been declared bankrupt in Netherlands by a court, where it owes money to two of its service providers. Rocco Mulder has been appointed as the administrator in the bankruptcy proceedings in the case told<a href="https://www.business-standard.com/article/current-affairs/nclt-to-hear-grounded-jet-airways-insolvency-plea-on-wednesday-119061801141_1.html"> Business Standard</a> that “the opening of insolvency proceedings in the Netherlands has universal effect”. SEE ALSO: <a href="https://www.businessinsider.in/jet-airways-stock-springs-a-surprise-gains-by-66/articleshow/69872150.cms" data-type="tilCustomLink" target="_blank">Jet Airways stock nearly doubled in a day as the rumour mill in the market goes berserk</a> <a href="https://www.businessinsider.in/markets/india-latest-market-udpate-research-shows-top-losers-mid-and-small-cap-stocks-have-lost-2-4-trillion-in-one-year/articleshow/69868683.cms" data-type="tilCustomLink" target="_blank">Watching the Sensex can be misleading-- India's mid and small cap stocks have lost ₹2.4 trillion of investor wealth this year alone</a>

It’s official-- Jet Airways is bankrupt, declares a Indian court on the same day the share price jumped 93%

<ul><li>The Tatas could bid for Jet’s bilateral rights and aircraft, according to an ET report. </li><li>Sanjay Vishwanathan-led AdiGroup and a Jet’s employee consortium might bid for the airline. </li><li>Jet Airways piled up as much as ₹85 billion in debt, and has been declared bankrupt. </li></ul>The Tatas could bid for Jet’s bilateral rights and aircraft, according to an ET report. The interest from the ₹<a href="https://www.business-standard.com/article/companies/tcs-propels-tata-group-into-rs-10-trillion-club-shares-hit-lifetime-high-118042100024_1.html">10 trillion</a> conglomerate, one of India’s largest business houses, has come days after Jet Airways’ employees and a UK investor decided to bid for the company. Sanjay Vishwanathan-led AdiGroup and a Jet’s employee consortium might bid for the airline. 
 
 
 <div type="image" title="BI48" msid="70022110" hostid="261"></div>







 Jet Airways piled up as much as ₹85 billion in debt, and has been declared bankrupt. However, each of these bidders want different things. While Sanjay Vishwanathan-led <a href="https://www.businessinsider.in/news/jets-employee-consortium-adigroup-to-bid-for-75-of-jet-airways/articleshow/69990089.cms">AdiGroup and a Jet’s employee </a>consortium probably want the airline to fly again, Tatas who have their own airline Vistara and also hold a majority stake in budget airline AirAsia -- want to take over some of its assets. The <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata group</keyword> had tried to take over the company last year, but the talks fell through in <a href="https://www.businesstoday.in/sectors/aviation/the-rise-the-fall-and-the-challenges-of-jet-airways/story/335811.html">November last year</a>. Ever since the airline went in for bankruptcy, the group’s view on it has changed. “There is no value in buying the company now anyway,” an official told ET. Bilateral rights on the other hand can provide Tatas with traffic rights on international routes. Jet Airways had been in trouble for years now piling up as much debt as ₹85 billion. The airline had tried to expand during tough times of high fuel prices and excessive competition, taking a hit on its margins. After multiple attempts to bail out the airline, its largest lender State Bank of India had stalled a credit line, which led to its grounding in April. SEE ALSO <a href="https://www.businessinsider.in/news/jets-employee-consortium-adigroup-to-bid-for-75-of-jet-airways/articleshow/69990089.cms">Jet Airways' employees will bid for 75% stake in the airline along with London-based AdiGroup</a> <a href="https://www.businessinsider.com/jet-airways-founder-naresh-goyal-and-wife-stopped-from-leaving-india-airport-official-2019-5?IR=T">Jet Airways founder Naresh Goyal and wife stopped from leaving India - airport official</a>

The ₹10 trillion Tata Group may want some of Jet Airways’ parts after the airline’s employees decided to bid

<ul><li>Jet’s employee consortium and UK-based AdiGroup are bidding for 75% stake in the grounded airline, says IANS. </li><li>Employees were also <a href="https://www.indiatoday.in/india/story/jet-airways-crisis-nclt-appointed-team-not-in-favour-of-employee-demands-1557591-2019-06-27">worried that their interests </a>will not be safeguarded during the bankruptcy proceedings. </li></ul>Jet Airways’ employees are saving their jobs along with their company, as have joined hands with an investor to bid for the grounded airline. Jet’s employee consortium and UK-based AdiGroup are bidding for 75% stake in the grounded airline, says IANS. AdiGroup is a global management and investment advisory firm based in London. It is headed by Sanjay Vishwanathan who had earlier in May showed interest in bidding for Jet. Employees who have been venting their anger against Jet’s largest lender State Bank of India for refusing to extend a credit line, were also <a href="https://www.indiatoday.in/india/story/jet-airways-crisis-nclt-appointed-team-not-in-favour-of-employee-demands-1557591-2019-06-27">worried that their interests </a>will not be safeguarded during the bankruptcy proceedings. Jet’s employees have been crusading for the cause of their company ever since it was grounded. Two days after it was grounded, a few employees had written a letter to the chairman of SBI claiming that they can arrange funding of up to Rs ₹70 billion, over a period of time. Jet Airways was declared bankrupt on June 20, as lenders could not find a viable bid. This is the first good news that the grounded airline had received since it was grounded in April. This was after many attempts to stitch a deal between Jet’s existing investor Etihad and Mumbai-based Hinduja group which too had showed interest in the airline. However, their bid had many conditions and hence could not go through. Jet Airways has been in debt of as much as ₹85 billion, after it made unwise bets expanding the company even as competition heightened in the aviation sector with the entry of new players. The increasing costs of aviation turbine fuel and other operational costs too weighed heavy on the company, making it borrow more and more, deepening its crisis. Jet Airways’ stock fell by almost 5% in today’s trade to ₹67 per share. As of today, the market capitalization of the company was at ₹7.6 billion, after the stock was hammered for months. See also: <a href="https://www.businessinsider.in/business/employees-are-buying-out-promoters-of-sick-companies-in-india/articleshow/69975807.cms">Some employees in India are stepping up with investments to save the company and their jobs</a> <a href="https://www.businessinsider.in/business/jeet-airways-declared-bankrupt-by-nclt-after-share-price-jumps-93/articleshow/69878191.cms">It’s official-- Jet Airways is bankrupt, declares a Indian court on the same day the share price jumped 93%</a>

Jet Airways' employees will bid for 75% stake in the airline along with London-based AdiGroup

<ul><li><keyword id="6380241" type="UNKNOWN" weightage="20" keywordseo="jet-airways-employees">Jet Airways employees</keyword> have reportedly met with Maharashtra Chief Minister Devendra Fadnavis, urging him to intervene. </li><li>An estimated 22,000 Jet employees were left without work after the airline suspended operations last month </li></ul>As the troubled Jet Airways prepares for a <a href="https://www.livemint.com/companies/news/jet-airways-employees-bid-may-be-heard-as-others-waver-1557465393596.html">bidding </a>process from potential investors, a group of the airline’s staff have reportedly met with Maharashtra Chief Minister Devendra Fadnavis, urging him to intervene. According to an ANI report, the group said, "We're ready to work for less salary, but we want Jet Airways to come back”.The CM has assured them the government will step in, added the report. An estimated 22,000 Jet employees were left without work after the airline suspended operations last month following an extended period of cash flow and debt problems. Some of them have been subsequently offered jobs by rival airlines like SpiceJet and Air India, but many are still unemployed. A number of bids are expected this week from potential investors including Etihad Airways PJSC, India’s National Investment and Infrastructure Fund and private equity firms TPG Capital and Indigo Partners, Mint <a href="https://www.livemint.com/companies/news/jet-airways-employees-bid-may-be-heard-as-others-waver-1557465393596.html">reported. </a> Separately, some Jet airways employees are also planning to submit their own bid to rescue the airline.

Jet Airways staff in Mumbai says they’re willing to work for less salary

The local pilots' body of <keyword id="6358200" type="CITY" weightage="100" keywordseo="Jet-Airways">Jet Airways</keyword> has deferred its decision to not fly with foreign pilots from next month, according to PTI. The <keyword id="236445" type="ORGANIZATION" weightage="100" keywordseo="National-Aviators-Guild">National Aviators Guild</keyword>, representing local pilots of Jet Airways, had earlier this month issued a directive to its members not to fly with expatriate commanders from May 1 after one of the foreign pilots allegedly assaulted a trainer in Bengaluru. The <keyword id="25067" type="PERSON" weightage="100" keywordseo="nag">NAG</keyword> had also alleged that the Jet Airways management treats its local pilots in a "step motherly" manner. The order urging local pilots to not fly with foreign pilots has now been has been kept in "abeyance" till further instructions, a pilot source told PTI. At a meeting of NAG representatives, it has been decided to give Jet Airways time to address the issue, the source added. Jet Airways had called a meeting with the NAG on April 26 but as most of its members were flying, it could not take place at that time, the source said. The meeting is now likely to happen next week. However, the date is yet to be fixed. Jet Airways has some 60 expat commanders, who mainly operate its <keyword id="6357957" type="CITY" weightage="100" keywordseo="Boeing">Boeing</keyword> 737 and <keyword id="196930" type="COMPANY" weightage="100" keywordseo="ATR">ATR</keyword> fleet. The guild claims representation of nearly 1,000 pilots of the total of around 1,500 pilots in Jet Airways.

You Searched For "jet airways" and got 11 results

Jet Airways is headed to bankruptcy court as bankers fail to find a buyer

Katya Naidu

Jet Airways hits upper circuit after Jalan Kalrock Consortium infuses Rs 100 cr more

PTI

Jet Airways stock flies on news that the airline is in talks to buy 100 aircraft ahead of its comeback

Bhakti Makwana

This defunct airline’s stock has grown four times in just over 4 months — here's why

Navdeep Yadav

Jet Airways shares slump over 17% as investors get anxious before the last word from bankers

Katya Naidu

Jet Airways' shares decline 15% in 3 days as headwinds gather

ANI

It’s official-- Jet Airways is bankrupt, declares a Indian court on the same day the share price jumped 93%

Katya Naidu

The ₹10 trillion Tata Group may want some of Jet Airways’ parts after the airline’s employees decided to bid

Katya Naidu

Jet Airways' employees will bid for 75% stake in the airline along with London-based AdiGroup

Katya

Preeti

Jet Airways staff in Mumbai says they’re willing to work for less salary

BI India Bureau

This is why Jet Airways’ pilots deferred from not flying with foreign pilots

BI India Bureau

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