Insolvency procedure for Jetairways kicks off with the committee of creditors calling in bids for airline. List of prospective buyers to be released by August 14 while deadline for submitting resolution plans is set for September 5th Rahul Jour with details
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Insolvency procedure for Jetairways kicks off with the committee of creditors calling in bids for airline. List of prospective buyers to be released by August 14 while deadline for submitting resolution plans is set for September 5th Rahul Jour with details
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Watch Jet Saga: Insolvency procedure kicks off with committee of creditors calling in bids for airline 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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India's oldest private carrier suspended all operations temporarily on Wednesday, with no money to fly and banks refusing to lend any more. It has left more than 15,000 employees in the lurch. What will be the future of Jet Airways? Anirban Chowdhury has more.
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The Hindustan Aeronautics Limited (HAL) Tejas Mk-I is all set to achieve Initial Operational Clearance-2 on December 20. Forget the critics, this combat jet is now all set to be flown by serving pilots of the Indian Air force (IAF) who are going to miss the Mig-21 FL a lot less once they get their hands on this baby.
As Defence Minister A K Antony watched from under a shamiyana overlooking the runway, two Tejas light combat aircraft (LCA) came screaming, bombs and missiles fitted under wings, lifting effortlessly into the sky. As the fighters quickly faded into specks and then out of sight, hundreds of spectators watched two giant projector screens that played out video being transmitted live from the pilots' cockpits.
As the pilots positioned for their air-to-ground attack mission, the commentator revealed their target — the spectators' shamiyana. The screen showed the view from the pilot's head-up display (HuD) as he locked his navigation-attack system onto the target. Even as both fighters simulated a successful bomb release, a third Tejas closed in behind them. This was a friendly fighter on an air-to-air mission, tasked to shoot down the intruders. The projector screens switched to the pilot's helmet mounted display system (HMDS), which allows him to aim his weapons merely by looking at the target. In seconds, the intruders were in the 'no-escape zone' of his R-73 air-to-air missiles. Mission accomplished!
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The National Company Law Tribunal (NCLT) on Thursday admitted the State Bank of India's insolvency plea against the now-grounded Jet Airways. The Mumbai bench of the tribunal has directed the Insolvency Resolution Professional (IRP) to make efforts to resolve the matter within three months, given it is of national importance.
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Latest development in the Jet Airways insolvency case. SBI today filed a caveat in NCLAT to ensure smooth insolvency process and no intervention by the Netherlands Court.
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The State Bank-led consortium of lenders Wednesday extended the deadline for submitting bids for the cash-strapped Jet Airways by two days to Friday, said SBI Capital Markets. On April 8, SBI Capital Markets invited bids on behalf of the lenders led by SBI, which has put between 31 percent and up to 75 percent in the airline for investors.
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