This is the second meeting of Jet Airways’ CoC after the National Company Law Tribunal (NCLT) admitted the company under the Insolvency and Bankruptcy Code (IBC) last month.
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Watch Jet Airways lenders to meet today; decide on potential investors With HD Quality.
This is the second meeting of Jet Airways’ CoC after the National Company Law Tribunal (NCLT) admitted the company under the Insolvency and Bankruptcy Code (IBC) last month.
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Watch Jet Airways lenders to meet today; decide on potential investors With HD Quality
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Watch Jet Airways Flight Hits Another Jet Airways Flight In Delhi | Major Disaster averted | iNews With HD Quality
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Jet Airways Sold For One Rupee | Indian Airline Jet Airways Sold 50 % Of It's Stake For One Rupee Top Telugu TV
Debt-ravaged Jet Airways India, the country's biggest so-called full-service airline, is selling a majority stake for 1 rupee - a little more than 1 US cent. It's part of a bailout plan by its state-owned lenders that will give the airline time to arrange fresh equity. The complicated arrangement is on track to be voted through on February 21, in what would represent the rescue of one of the country's most visible companies at a sensitive time, with India's general election just weeks away.
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Watch Jet Airways faces imminent shutdown without emergency funds from lenders With HD Quality
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An SBI-led consortium of banks is set to take Jet Airways to NCLT under the Insolvency and Bankruptcy Code as efforts to seek resolution outside of IBC didn't materialise. The statement from the lenders said: “A meeting of lenders was held today to consider the way forward in respect of Jet Airways. 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
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Watch Lenders to take Jet Airways to NCLT, revival hope gets bleaker With HD Quality
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Lenders led by State Bank of India have decided to take the grounded Jet Airways to bankruptcy courts after failing to stitch together a revival plan despite working on it for over five months. NCLT to hear the Jet case on June 19. Two operational creditors, Shaman Wheels Pvt Ltd and Gaggar Enterprises Pvt Ltd, have already filed two separate insolvency pleas against the airline in the Mumbai NCLT. The hearing on these petitions is likely on June 20. Meanwhile, lenders have also approached aviation ministry to protect Jet Airways' slots and routes.
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Watch Jet Airways lands in NCLT: Lenders' plea to be heard on June 19 With HD Quality
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Jet Airways committee of creditors today voted on whether to extend deadline for expression of interest in the debt-ridden airline. Lenders may extend deadline to Jan 15 to accommodate more players. Here's ET Now's Rahul Kumar with the details, Listen in !
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Watch Jet Airways: Lenders may extend deadline to Jan 15 to accommodate more players With HD Quality
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SBI Chairman is likely to discuss lenders strategy for Jet Airways with Arun Jaitley, ET Now's Nayantara Rai learns from her sources. Listen in!
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Watch SBI is likely to discuss lenders strategy for Jet Airways with Arun Jaitley With HD Quality
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Lenders of Jet Airways are likely to pick up a substantial stake in the debt-laden airline till a new promoter is roped in, sources said. The process of getting a new promoter on board is likely to take another two to three months and once that happens, the banks would offload their stakes, they added. The State Bank of India-led consortium of lenders is working on a resolution plan for the cash-strapped Jet Airways for the last five months. The full service carrier has a debt burden of more than Rs 8,200 crore and needs to make repayments worth up to Rs 1,700 crore by March end.
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Watch Jet Airways' lenders eye substantial stake in airline With HD Quality
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The lenders of Jet Airways have proposed a trust to take care of Naresh Goyal and Etihad Airways' stake in the company. Et Now's Uttkarsh Chaturvedi has exclusively accessed lenders' plan to rescue the company. Watch to know the significance of trust and how many haircuts the lenders will take.
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Watch Jet Airways resolution- Lenders chalk out new plan for funding With HD Quality
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