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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News Network
May 26,2020

Bengaluru, May 26: Unknown miscreants have set ablaze 30-40 migrant labourers hutments in Bengaluru east, prompting police to take suo motu cognizance, an official said on Tuesday.

"As many as 30-40 migrant labourers' hutments have been set ablaze by unknown miscreants at Kacharakanahallin in KG Halli, we have taken suo motu cognizance of the crime," said a police official to media.

Police are investigating the arson invoking IPC Sections 143, 147, 188, 436, 123, 504, 506 and others.

"There was no loss of life in the arson as the migrant labourers were away at their hometowns because of COVID lockdown," said the official.

The labourers came from different parts of Karnataka to eke out a living and were living in those huts near the Rama Temple in KG Halli.

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News Network
April 8,2020

Bengaluru, Apr 8: A 65-year-old man from Kalaburagi district became the fifth COVID-19 fatality in Karnataka, where six new positive cases were confirmed, pushing the tally in the state to 181, the health department said on Wednesday.

The man with Severe Acute Respiratory Infection (SARI), died at a designated hospital in Kalaburagi on Tuesday, a day after being shifted from a private hospital where he was initially treated for two days.

"On April 4, he had got admitted to a private hospital, on April 6 he was shifted to ESI hospital, where he passed away," Primary and Secondary Education Minister Suresh Kumar told reporters here.

The private hospital had been locked and its entire medical team quarantined, he said, adding a notice had been served on it for act of "criminal negligence" (by not referring the patient to designated hospital) and will be followed with a police case.

"He was suffering from SARI, on collecting his sample, tests have revealed that he was positive....investigation is on to find how he got infected," the Minister said.

Noting that the hospital in this case did not refer the patient to the designated hospital and kept treating him for two days, he appealed to all private healthcare facilities to inform authorities if anyone showed any indications for COVID-19.

"As of 5 PM on April 8, cumulatively 181 COVID-19 positive cases have been confirmed in the state, it includes 5 deaths and 28 discharges," the health department said in a bulletin.

Out of the positive cases, 71 are those who had come back from foreign countries, while remaining 110 are contacts and those who had gone to Delhi, the Minister said.

Kumar also said an expert committee comprising Narayana Health founder-chairman Dr Devi Prasad Shetty and Jayadeva Institute of Cardiovascular Sciences director Dr C N Manjunath among others, constitutedto devise an exit strategy for the lockdown, has submitted its reports with various recommendations to Chief Minister B S Yediyurappa.

The chief minister and officials were examining it which was likely to come up before the cabinet meeting on Thursday after which the details will be shared, he added.

The health department said the six fresh cases reported on Wednesday included the elderly man from Kalaburagi who died.

Among the positive cases are a woman from Uttara Kannada with history of SARI and contact of a Dubai returnee, a 72- year-old woman from Kalaburagi, who is mother of a patient that tested positive for the disease; a man from Mandya with contact to two patients.

Others include a man from Chikkaballapura with travel history to Delhi and a woman from Bengaluru also with a travel history to the national capital.

Contact tracing is in progress for all the cases, the bulletin added.

The department said out of 148 active cases in the state, 146 COVID-19 positive patients (including 1 pregnant woman) are in isolation at designated hospitals are stable and two in ICU (one each on oxygen and ventilators).

It said out of total 181 cases in the state, six are transit passengers of Kerala.

Bengaluru accounted for the highest in the state with 63 cases, followed by Mysuru (35), Dakshina Kannada (12) Bidar (ten), Uttara Kannada and Kalaburagi (9 each), Chikkaballapur (8) Belagavi (7), Ballari (6), Bagalkote (5), Mandya (4) Davangere, Bengaluru Rural and Udupi (three each), and Kodagu, Tumakuru, Gadag and Dharwad one each.

Those discharged include 16 from Bengaluru, four from Dakshina Kannada, two each from Uttara Kannada, Kalaburagi and Davangere, and one from Bengaluru Rural; while among those dead are two from Kalaburgari and one each are reported from Bengaluru, Bagalkote and Tumakuru.

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News Network
May 28,2020

Bengaluru, May 28: In a first of its kind initiative, the Karnataka government will soon launch 'Statewide Health Register', a project to maintain the health database of all its citizens, announced Medical Education Minister Dr K Sudhakar on Wednesday.

The project will kick start from Chikkaballapura and Dakshina Kannada districts.

"With a vision to efficiently deliver quality healthcare to every citizen, Karnataka will soon have a Statewide Health Register. The pilot project will be implemented in Chikkaballapura & Dakshina Kannada dist shortly and completed in 3-4 months. @CMofKarnataka @PMOIndia @JPNadda," tweeted the Minister.

The government plans to get the data collected with the help of a team of Primary Health Centre (PHC) officials, revenue officials, Education Department staff and ASHA (Accredited Social Health Activist) workers.

"They will visit each household and collect health data of all the members of the family. This will not just help the government to provide better health care facilities, but also build an efficient resource allocation, management and better implementation of various citizen-centric schemes in the state," the minister added.

Sudhakar also said that the COVID-19 pandemic has demonstrated the necessity of having a robust, real-time public health system.

"Very few countries in the world have taken such an initiative. It is a futuristic project which will include 50 per cent partnership of private hospitals. It would be a cumbersome process but if we do this and digitise it, the data could be used for multiple purposes. The data would help us prioritise healthcare based on geography, demography, and other targeted measures. It would also help medical professionals and scientists for innumerable studies," he said.

"We have consulted all specialists from 18 different departments, and taken their advice into account," said the minister.

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