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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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Watch Banks extend deadline to submit bids for Jet stake to April 12 With HD Quality.
The Economic Times | A Times Internet Limited product
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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Watch Banks extend deadline to submit bids for Jet stake to April 12 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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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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The lenders to Jet Airways have received two bids for the cash strapped carrier, and none of the bids are from an airline. This is what ET Now has learnt reliably from sources close to the development. One of the bidders could be a fund. SBI Capital, which has the mandate for Jet's sale, decided to increase the bid submission deadline from April 10 to April 12th as its confident of other parties participating in the process.
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Watch Two bids received for Jet Airways: Sources With HD Quality
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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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Watch Jet Airway share falls after denying stake sell buzz video
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Stakeholders in the restructuring process are in a hurdle. The stake of Naresh Goyal may fall below 15 percent post the fresh share issuance, while that of Etihad may go above 40 percent as it infuses money equity. Watch!
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►Instagram - https://www.instagram.com/the_economic_timesWatch Jet Airways' restructuring: Naresh Goyal's stake to fall below 15%? 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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State Bank of India (SBI), the country's largest lender, chairman Rajnish Kumar said the lenders have received two unsolicited bids for the cash strapped Jet Airways and another one is expected by the end of the day.However, people in the know told ET now that Etihad has submitted a binding bid for Jet Airways minutes ahead of the deadline. It has also informed that the SBI Caps will have an Indian partner for acquiring a controlling stake in the grounded airline. Currently, Etihad leadership is in Mumbai.
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Watch Etihad submits binding bid for Jet Airways ahead of deadline With HD Quality
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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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