Sad that so many Airlines have bitten the dust in India.
In a filing before the Bombay Stock Exchange (BSE) and a statement to the media, Jet Airways said that it was informed by the State Bank of India (SBI), on behalf of the consortium of Indian Lenders, that they are unable to consider its request for critical interim funding. After a board meeting Tuesday, the management had authorised chief executive Vinay Dube to make one last appeal to the lenders for an emergency Rs 400 crore funding, and if not the demand is not met, take a final call on the future of the airline Wednesday. "Almost 90% of Jet slots are unused at the moment and they are being allotted to others temporarily", top aviation bureaucrat said. "This has been a very hard decision but without interim funding, the airline is simply unable to conduct flight operations in a manner that delivers to the very reasonable expectations of its guests, employees, partners and service providers", Jet said in the statement.
Mallya described Jet Airways as a fine airline.
Jet Airways aircraft at the Chhatrapati Shivaji Maharaj International Airport in Mumbai on Tuesday.
"If we don't get funds today, the airline will have to shut down immediately", a senior company source told Reuters.
Jet's creditors, led by SBI, want a new investor to acquire a stake of up to 75 percent and initial expressions of interest were submitted last week. "It is likely that the lenders may release some funding tonight", said the source.
First image of Black Hole snapped! The images obtained on April 10th proved that the Event Horizon Telescope network is usable and practical. A light year is the distance light travels in a year, 5.9 trillion miles (9.5 trillion km).
How to install iOS 12.2 on your iPhone, iPad, or iPod touch The "no late fees" feature on the cards was added to help customers avoid extra financial burden from credit card bill payments. And while Costco does, you can only use Visa cards there; the Apple Card runs on the Mastercard payment network.
Till late night, it was not clear whether the banks were willing to provide money to the airline to enable it to continue operations.
Jet Airways said it has informed the Directorate General of Civil Aviation, and the Ministries of Civil Aviation and Finance and other relevant government institutions, of this course of action. SBI Capital Markets, which has the mandate for the stake sale on behalf of the SBI-led consortium, is now vetting the initial bids received and as per reports the shortlisted investors will be given time till May 10 to submit binding bids. There has been a backlash on social media about Jet Airways' financial problems.
According to NAG, which has around 1,100 members, the airline is only operating around 450 seats per day.
The Naresh Goyal founded airline, which till recently had 119 aircraft in its fleet, is now flying just five aircraft, most of which are smaller ATRs. Due to this, the airline has neither been able to pay pending salaries nor its lessors and, hence, been forced to ground the bulk of its planes.
It has repeatedly defaulted on loans and failed to pay staff in recent months.
Shares in the company, which have tumbled about 60 percent in the a year ago, closed on Tuesday at 240.50 rupees a share.
Mueller: Did he get the job done? At this point, however, one has to wonder how engaged voters remain on Russiagate. Does he love the Mueller report or despise it? Let's consider the Democrats' narratives first. "We haven't seen it".
Notley's New Democrats have been swept from power in the Alberta election by Jason Kenney and the United Conservatives. The Liberals pledged a provincial sales tax and the Alberta Party promised to withhold provincial income taxes.
Van de Beek cushioned Hakim Ziyech's shot and, kept onside by Mattia De Sciglio , tucked away the one-on-one opportunity. We are so happy that we did it today and so proud of the team", De Ligt told ViaSportFotball.
Department of Justice is unlikely to approve the planned merger between T-Mobile and Sprint as it's now structured. For example, T-Mobile claims that its 5G home internet service is only possible if it merges with Sprint.
The religiously motivated Folau attracted the fresh storm of controversy when he posted on Instagram: "Warning". Folau had form after a similar outburst previous year earned him a warning from Rugby Australia.
An Open House will be called shortly as per the availability of the venue and the committee members, its communication added. Earlier, the airline's pilots, engineers and cabin crew members assembled at the headquarters to show their solidarity.
Could this Easter exceed temperatures of previous Easters? Unfortunately though, the unseasonably warm weather will not last. Plenty of sunshine is expected for Good Friday with maximum temperatures expected to lift into the low 20s C widely.
We know from the league-wide announcement last week, that the Green Bay Packers and Chicago Bears would kick off the 2019 season. The Bills 2019 schedule, presented by Ellicott Hotels, will include dates and times for the team's 16 games and bye week.
She attended Briar Cliff University , a Catholic liberal arts school, on volleyball and symphony choir scholarships, Tamera said. Norton was visiting the rock formation while on a hiking trip with her college friends, according to her obituary .
Minnesota man, Emmanuel Deshawn Aranda, 24, was arrested in the case soon after he threw the child, seriously injuring him. Paul Sellers, the public defender appointed to represent Aranda, said his client has been in mental health court before.
Australia's recent red-hot form has been built on the back of a rock-solid opening partnership between Finch and Usman Khawaja. Aaron Finch will lead the team, which will have Glenn Maxwell and Marcus Stoinis as the all-rounders.
A two-tone Nissan 370Z marks 50 years of Z cars
What's new with the GT-R NISMO? Powering the auto is the same 572PS/633Nm 3.8-litre twin-turbo V6 from the 2017 GT-R. Pricing still hasn't been announced, but the 2020 GT-R Nismo will hit dealers this summer.
Luke Walton named new head coach for Sacramento Kings
Eventually, the Lakers and Walton finally chose to part ways and the Lakers have been looking for a head coach ever since. The Cavaliers are expected to meet with assistants on teams involved in the playoffs later, sources said.
Cards GM: We haven't made a decision on pick
Keim said watching the speculation abound has been "fun" and "exciting". "He couldn't have been better, honestly", Kingsbury said. Whether he'll trade the pick will come down to the compensation, Keim said. "At the same time, I like good players".
Woman answers door, shot point-blank with crossbow
They say the woman and the suspect had a short conversation before the man shot her with a crossbow he had hidden inside the box. This week, police released video footage of the suspect at the victim's door in the hope that the person could be identified.
North Korean, Russian leaders may hold summit next week
Moon's message was clearly a response to Kim's speech to newly-elected members of the North's rubber stamp legislature on Friday. President Donald Trump met with South Korean President Moon Jae-in at the White House last week.