Jet Airways temporarily suspending their ops, is it definitive ?

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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Jet Airways creditors will likely be forced into extending a 17 February 2020 deadline for the sale of the airline as the shortlisted bidders have yet to form bidding groups,
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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JetLite employees have moved the dedicated bankruptcy court to be part of the corporate insolvency resolution process of defunct Jet Airways.

Jet Airways committee of creditors will meet on 18 February 2020 to decide on giving more time to Prudent ARC, and possibly Synergy Group, to put in bids for the airline.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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TLspotting wrote: 19 Feb 2020, 08:47 Jet Airways committee of creditors will meet on 18 February 2020 to decide on giving more time to Prudent ARC, and possibly Synergy Group, to put in bids for the airline.
Jet Airways creditors decided to extend the deadline for submission of bids to 10 March 2020 as a new entity has evinced interest in the airline.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Jet Airways founder Naresh Goyal and his wife Anitato to face a criminal offence for allegedly cheating a Mumbai-based travel company to the tune of US$6.4 million.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Jet Airways has received interest from seven entities as the deadline to submit an EOI (expression of interest) expired on 28 May 2020. Synergy Group was among the latest candidates.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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India’s Enforcement Directorate filed an intervention plea before a local court, requesting the judge to continue an ongoing probe against Jet Airways and its founder Naresh Goyal.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Umpteenth episode of the never-ending story: Jet Airways lenders have reportedly finalised four potential bidders who may submit a bid proposal to acquire a stake in the bankrupt airline by July 2020.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Jet Airways insolvency process may have entered its last stage, with two bidders submitting revised proposals earlier this week.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Jet Airways would be acquired by an investor consortium under a multi-million dollar resolution plan approved by the carrier’s creditors.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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sn26567 wrote: 19 Oct 2020, 22:23 Jet Airways would be acquired by an investor consortium under a multi-million dollar resolution plan approved by the carrier’s creditors.
Jet Airways is expected to fly again within the next four to six months if all approvals are in place, says resolution professional, Ashish Chhawchharia.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

Post by Homo Aeroportus »

sn26567 wrote: 20 Oct 2020, 23:02
sn26567 wrote: 19 Oct 2020, 22:23 Jet Airways would be acquired by an investor consortium under a multi-million dollar resolution plan approved by the carrier’s creditors.
Jet Airways is expected to fly again within the next four to six months if all approvals are in place,
says resolution professional, Ashish Chhawchharia.
Does his first name give a hint about his optimism?

;)

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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Jet Airways will need US$1 billion initial working capital, followed by $3 billion over the course of 5-7 years before the airline can break even.

If you have some spare money...
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Jet Airways resolution plan would give the new owners more than 90% stake in the airline with the rest going to its lenders, says the resolution professional appointed by the bankruptcy court.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Jet Airways is one step closer to being relaunched, as Kalrock Capital (UK) and Murari Lal Jalan’s consortium have deposited the performance security of approximately US$20.1 million.
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

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Jet Airways plans to operate it as a full-service airline with a strong presence in the domestic market while connecting prominent European and West Asian cities with Delhi, Mumbai, and Bengaluru.
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