Lenders’ consortium is preparing for an open auction for Jet, which has a debt of around Rs 8,500 crore. The expression of interest for the auction is likely by April 9 and final bids are expected by end of May. Goyal, whose stake has been halved from 51 to 25.5 per cent is learnt to be scouting for strategic partners for the airline he had founded more than 25 years ago.
In July 2017, Jet Airways had asked its junior pilots, who joined the brand in 2016, to take a 30 percent pay cut or leave In another attempt to keep its operations up and running, debt-laden Jet Airways is looking to borrow $150 million from an external bank. The private carrier has requested its partner […]Continue Reading
It seems that the center’s love for “Maharaja” is far from over as in a fresh development, the Modi led government has sought from Parliament for equity infusion worth Rs. 2,345 crore. Moreover, the government has sought for an additional Rs. 1,300 crore for Air India Asset Holding. Center is leaving no stone unturned to […]Continue Reading
The IL&FS group is facing serious liquidity crisis and has defaulted on interest payments on various debt repayments since 27 August.Continue Reading
Dr Kumar said that the win the three states of central India including Rajasthan, Madhya Pradesh and Chhattisgarh was a result of the angerContinue Reading
Thiruvananthapuram, Dec 7 (UNI) Federal Republic of Germany has come out with a massive aid package to support climate resilient rebuilding of Kerala’s flood-shattered public infrastructure, which includes a nominal interest loan of Rs 720 crore (90 million Euro). The package, announced at a press meet here on Friday by German Ambassador to India HE […]Continue Reading