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Jet Airways shares slump after reports of Etihad's non-binding offer

Agencies
May 13, 2019

Bengaluru, May 13: Bengaluru: Shares of Jet Airways Ltd fell as much as 11.4 per cent on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier.

Etihad, which owns an about 24 per cent stake in Jet, submitted a bid for the airline, the unit of State Bank of India (SBI) overseeing the sale of the stricken carrier said on Friday.

That had raised hopes of a bailout for cash-strapped Jet, which has about USD 1.2 billion in bank debt.

The Mint newspaper said on Monday that Etihad wanted a commitment from banks on additional loans once it infuses equity into the company. The Middle Eastern carrier had not been able to find a local partner and lenders may need to take about 80 per cent haircut on their outstanding loans to Jet Airways, the newspaper said, citing banking sources.

Shares of the carrier, which have tumbled almost 70 per cent over the past year, were down 5 per cent at Rs 144.3, as of 0445 GMT.

Jet, which owes vast sums to its lessors, pilots, fuel suppliers and other parties, stopped all flights from April 17 after its lenders refused to extend more funds to keep the carrier flying.

SBI also received two unsolicited, non-binding bids, the bank said on Friday.

Jet and SBI were not immediately available for comments.

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M.Abdul Rahman
 - 
Wednesday, 15 May 2019

Wish Jet Airways start flying again soon

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coastaldigest.com news network
February 2,2020

Bantwal, Feb 2: A 45-year-old man was found murdered in a parked Innova car at Shantinagar near Nagri in Sajipa Munnur in Bantwal taluk today. 

The deceased has been identified as Tasleem, a native of Kerala who was wanted in a few criminal cases. He was, according to reports, a member of Kerala's notorious Ziya. 

Tasleem was an accused in Kalia Rafiq murder in Ullal (2017). He was arrested last year in connection with a jewellery store robbery case registered in Mangaluru North police station and was sent to Kalaburagi prison. He was later released on bail. 

Police are of the suspicion that a rival gang might have kidnapped him, tried to strangle him and then stabbed him in the stomach, before fleeing the spot.

The car had been parked at the spot since morning. The locals who grew suspicious at this informed the police. Circle inspector T D Nagaraj and other officers conducted spot investigation. 

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News Network
June 2,2020

Mangaluru, Jun 2: Karnataka-Kerala border at Talapady is yet to be opened for traffic despite lifting lockdown. Only those, who have registered on ‘Seva Sindhu’ portal, are given one-time permission to enter the district.

With the relaxation of the lock-down many, especially the labour class, were anticipating free movement. However, both the States have not allowed free movement of vehicles. Hundreds of people from bordering villages of Kerala arrive in Mangaluru for work and likewise many from bordering villages of Mangaluru too work in Kasargod district.

It has become a routine for the labourers of both the States living in border villages to daily assemble at the check post in the morning and return after the authorities refuse free movement.

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News Network
June 18,2020

Bengaluru, Jun 18: Karnataka Public Service Commission (KPSC) was reprimanded for withholding information, sought by a candidate regarding an examination held in 2005 for Gazeted Probationary posts, by the State Information Commissioner here on Thursday.

According to official sources, the State Information Commissioner NP Ramesh, while disposing off a petition by the candidate, who had written an examination conducted by the KPSC for the gazeted probationary posts held in 2005, had directed to provide the information sought by the candidate, free of costs within ten days.

The State Information Commissioner in his order had termed the conduct of the KPSC as against the spirit of transparency among the public authorities.

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