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.

Comments

M.Abdul Rahman
 - 
Wednesday, 15 May 2019

Wish Jet Airways start flying again soon

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coastaldigest.com news network
July 12,2020

Mangaluru/Udupi: A total 237 people tested positive for the novel coronavirus in Dakshina Kannada (DK) and Udupi on Sunday, a day that DK scaled yet another peak with 196 cases and Udupi tallied 41. 

The grim reaper came calling on patients with co-morbidities, harvesting five souls, to take the total tally of deaths in DK to 46. The spurt also saw DK’s tally of positive cases rise to 2,230 and Udupi’s to 1,608.

The 196 fresh cases in DK included 91 cases of influenza like illness (ILI), the cause of infection in 57 people is yet to be known, 20 are primary contacts, 16 are those with severe acute respiratory infection (SARI), 10 are those with international travel history and two are pre-surgery samples, said deputy commissioner Sindhu B Rupesh. The five deceased include three men and two women, the youngest victim being a 50-year-old man and oldest a 72-year-old man.

A total 94 patients were discharged from the designated Covid-19 and private hospitals in the city, taking the total number those discharged to 876, and paring down the number of active cases to 1,309. The commissioner of Mangaluru City Corporation, tested positive for the novel coronavirus on Sunda. Deputy Commissioner (revenue), MCC, a primary contact, has home quarantined himself in the wake of this development.

In neighbouring Udupi, the double-digit blip on the Covid-19 radar included 32 primary contacts, six with inter-district travel history, two with inter-state travel history and one patient with international travel history, said district health officer Sudhir Chandra Sooda. The fresh cases also included four children. The discharge of 28 patients took the total numbers of those discharged to 1,273, and there are 332 active cases now. The district has recorded three deaths due to the pandemic thus far. 

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coastaldigest.com news network
May 7,2020

Kolar, May 7: A 38-year-old man has been arrested for biting a snake and peeling off its skin at Mustur village in Kolar district of Karnataka.

Mulbagal range forest officer KN Ravikeerthi said forest officials nabbed Kumar, a construction worker, at Mustur on Wednesday and booked him under the Wildlife Protection Act. He was under the influence of alcohol.

Ravikeerthi said Kumar's offence is non-bailable and attracts a jail term of up to three years. The remains of the snake were collected and sent to a lab to ascertain its species. Forest officials said the snake Kumar bit was not a viper as was reported earlier but a rat snake.

On Tuesday, Kumar was riding back home after buying liquor when the snake ca me under his bike's wheels. He tossed the injured snake around his neck, bit it and peeled off its skin. Kumar said the snake had troubled him in the past.

Comments

abdul
 - 
Thursday, 7 May 2020

Ask talibans and Jehadis who has killed and killing innocent people, they will have the better answer for ur question,  CD dont filter and post the messages ...  accept the fact and post 

Abdul
 - 
Thursday, 7 May 2020

That u should ask taliban ... and other organistaion , who killes innocent civilians in the name of jehad.  

 

abdullah
 - 
Thursday, 7 May 2020

for killing humans there is no jail in India!

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coastaldigest.com news network
May 9,2020

Dubai, May 9: The wholehearted and collective effort of Karnataka NRI Forum, UAE and its president Mr. Praveen Shetty made it possible to have the first repatriation flight to Mangaluru – Karnataka from UAE. The Union Minister of India Mr. Sadananda Gowda tweeted on May 8th that the evacuation flight will fly from Dubai on May 12th with stranded citizen of India in UAE.

The whole world is under the impact of pandemic Covid 19. Government of India has announced the flights to repatriate its stranded citizens from all over the world. Sadly, the first batch of the announced flights had no mention of any flights from Gulf countries to Karnataka.

In Gulf countries, especially in UAE, thousands of Kannadigas are working for their livelihood. In this population major part is shared by coastal Karnataka people who belong to Mangalore, Udupi and other nearby districts. This lack of consideration of Mangaloreans for repatriation was made whole Kannadiga’s in deep sadness, where as many Kannadiga’s were waiting for flights to obtain urgent medical assistance and other medical support back in their home country.

Once after obtaining the news of not having flights to Karnataka from UAE, Mr. Praveen Shetty immediately actioned and wrote letter to concerned departments and ministers under the banner of KNRI. Mr. Praveen Shetty was in continuous follow up with Deputy Chief Minister of Karnataka Dr. Ashwath Narayan, Mr C.T. Ravi Minister for Tourism of Karnataka, Union Minister of India Mr. Sadananda Gowda, Minister of Parliamentary Affairs (India) Mr. Pralhad Joshi, Minister of Railways of India (Minister of State) Mr. Suresh Angadi and officials of Aviation ministry along with other concerned departments.

The efforts have now given the result and finally the confirmation has been obtained from Mr. Sadananda Gowda about consideration of repatriation flights to Mangalore from Dubai on May 14th. It is expected that Aviation ministry will officially announce the flight arrangement and other operational information shortly.

Speaking to media, Mr. Praveen Shetty said, Karnataka NRI Forum is always committed to serve  Kannadigas and the collective effort of core committee members, ministers of Karnataka & Govt of India including the Aviation & other concerned ministries made possible the most important and much awaited flight to Mangalore from UAE to repatriate expats who are in need. I thank each and everyone who joined their hands to make this possible.

Mr. Praveen Shetty is a well-known businessman in UAE who manages Fortune Group of Hotels in UAE & Georgia. He selflessly given his 3-star hotel to UAE ministry to operate as Quarantine facility to people who are under observation with Covid 19. Also, he joined his hands with organizations in UAE who are extending their helping hand to needy people in UAE.

With the help of likeminded businessmen and professionals, the KNRI forum under the leadership of Mr. Praveen Shetty along with ‘Dubai Anivasi Kannadigaru’ started a helpline called “Kannadigas Helpline” through which they received around 3000 requests for food, medical, legal and other assistance. They aided many Covid infected people with quarantine and isolation by the help of Dubai Health Authority, Ministry of Health, Dubai Police and Consulate General of India under the guidelines of Dubai Govt.

Mr. Praveen Shetty expressed his gratitude to Dubai Health Authority, Ministry of Health, Dubai Police and Consulate General of India for their professional guidance and help to Kannadigas during the pandemic Covid 19 situation.

Comments

Ganapati
 - 
Wednesday, 13 May 2020

Sir pls helf madi nange ಎದೆ ನೋವು barta iratte uralli medicen madidde swalpa kadime agittu adre ivaga dubai ge bandu 6tingalu aytu iga puna start agide next flight alli nanagu ondu site sigo hage  madi sir plz idu nanna mobile numbar 0544826324

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