Published: Fri, April 12, 2019
Markets | By Otis Pena

Etihad Airways submits bid for Jet Airways

Etihad Airways submits bid for Jet Airways

AJet Airways spokesperson said that guests had been duly informed and that refunds are being processed.

One passenger said he has been left stranded in Paris for the next 36 hours until he is able to get on another flight.

A Jet Airways flight from Amsterdam to Mumbai was stopped from taking off at the Schiphol Airport by a European cargo company due to outstanding bills.

Mumbai: With lessors grounding more Jet Airways (India) Ltd planes, the airline suspended all of its global flights till Friday morning, even as a government official said the airline's eligibility to fly overseas might be reviewed given that its fleet size had fallen below the required minimum. The Directorate General of Civil Aviation (DGCA) is yet to take a call but said it is monitoring the situation closely.

Naresh Goyal, the founder of Jet Airways, and his wife Anita Goyal last month stepped down from the board of the ailing airline, ceding majority control to the consortium, following a reduction in their stake as per the resolution plan formulated by the lenders.

According to travel experts, India's air passenger growth over the last three to four years has been led by low oil prices that allowed the airlines to offer cheap fares - a phenomenon that continued even when fuel costs began to rise last year.

After close Israeli election, Benny Gantz’s party concedes defeat
The president was on a flight to Texas. "He's been a great ally and he's a friend". "I would like to congratulate Bibi Netanyahu". While the grant money was first meant to help with the Middle East peace process, it was then used to actively oppose Netanyahu.


"Qualified bidders will be expected to submit their respective binding bid (s) latest by April 30 subject to the terms set out under the bid document", said SBI Capital Markets in a statement.

Jet Airways has grounded most of its fleet, because it is unable to pay lessors and can not afford required maintenance for some aircraft. "Passengers are advised to contact their booking agent or the airline directly (info@jetairways.com) for available options", Changi airport tweeted on Thursday.

In additional changes to its global inventory, Jet Airways closed reservations for Chennai-Paris, Delhi-Amsterdam-Toronto, Delhi-Kathmandu, Delhi-Singapore, Mumbai-Colombo, Mumbai-Paris and Mumbai-Singapore, till April 12.

The airline now owes Rs 8,000 crore to lenders, led by the SBI.

As of Thursday the airline operated just 14 planes- way down from 123 planes in operations at the peak.

The developments came as banks refused to release the promised additional loan of ₹1,500 crore and original promoter Naresh Goyal pledged 26% of his holding in Jet Airways with Punjab National Bank.

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