Crisis-hit Jet Airways has defaulted on repayment of loans to a consortium of Indian banks, according to a filing. The full service carrier, which has been grappling with financial woes for some time now, has been making delayed salary payments to its staff. Shares of the airline tumbled 7 per cent to Rs 261.45 in afternoon trade on the BSE on Wednesday..
Crisis-hit Jet Airways has defaulted on repayment of loans to a consortium of Indian banks, according to a filing. The full service carrier, which has been grappling with financial woes for some time now, has been making delayed salary payments to its staff. Shares of the airline tumbled 7 per cent to Rs 261.45 in afternoon trade on the BSE on Wednesday.
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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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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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Watch The Jet saga: Possible outcomes | Jet Airways Crisis | Economic Times With HD Quality
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No last word from lenders on interim funding yet. But, we believe in Jet and will leave no stone unturned to resurrect Jet. We are in constant touch with lenders: Jet Airways CEO Vinay Dube
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Watch Jet Airways CEO Vinay Dube breaks his silence on Jet crisis With HD Quality
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Farmer Tried To Commit Suicide For Loan Repayment | Anantapur | iNews
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Street vendors of Kupwara Demands One Chance for Loan Repayment, Shifted Recently to another place.
Street vendors of Kupwara Demands One Chance for Loan Repayment, Shifted Recently to another place.
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Jet Airways' shares jumped over 16 per cent on Monday after a report that founder and chairman Naresh Goyal was likely to step down from the board of the embattled company and give up majority control. Reports are that Jet was likely to finalise a resolution plan with its lenders this week, and that Goyal would trim his 51 per cent stake to 20-25 per cent and agree to voting rights on his stake being capped at 10 per cent, in a bid to save the debt-laden carrier.
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