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
July 17,2020

Bengaluru, Jul 17: A total of 3,693 new COVID-19 positive cases and 115 deaths were reported in Karnataka on Friday, said the state health department.

The total number of COVID-19 cases in the state is presently at 55,115, including 33,205 active cases. While there are 20,757 recoveries, the death toll stands at 1,147.

With the highest single-day spike of 34,956 cases and 687 deaths, India's COVID-19 positive cases crossed the 10 lakh mark on Friday, according to the Union Ministry of Health and Family Welfare.

The total positive cases stand at 10,03,832 including 3,42,473 active cases, 6,35,757 cured/discharged/migrated and 25,602 deaths, according to the ministry.

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coastaldigest.com news network
June 13,2020

Bengaluru, Jun 12: Karnataka on Saturday reported 209 discharges, as the state confirmed 308 new cases of COVID-19 and three related fatalities, taking the total number of infections to 6,824 and the death toll to 81.

With the 14 new cases, the total number of covid cases in Udupi district alone today reached 1005. Dakshina Kannada today reported 30 cases and the tally mounted to 263. 

Today highest cases were reported from Kalaburgi (67), followed by Yadgir (52), Bidar (42) and Bengaluru Urban (31). More details to follow.

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News Network
March 31,2020

Kasaragod, Mar 31: Two more Kasaragod natives lost their lives on Monday due to blockade of the interstate border by Karnataka police in the wake of outbreak of novel coronavirus.

They could not get emergency health care as the Karnataka police stopped the ambulance carrying them to a hospital in Mangaluru at the border.

Another critically-ill person, who was sent back by Manguluru hospital authorities on March 23 for being a Kasaragod native, also died on Monday.

This is the fifth such case in many days.

The deceased are Madhavan, 50, Ayesha, 55 and Aziz Haji, 61 respectively.

All three of them lived near the Karnataka border.

Madhavan, who hailed from Thummanattu in Manjeswaram, died enroute to Kanhangad hospital after being denied entry to cross over to Karnataka. He had an acute bronchial attack.

Udyavar native Ayesha, an asthma patient, was referred to the Mangaluru Hospital by the hospital authorities at Uppali. When the authorities stopped her at the border, she was taken to the Kanhangad hospital. However, she died before reaching the hospital.

Aziz Haji, from Nayabazar Cherugoli MA Cottage at Uppala, was allegedly refused entry into a Manguluru Hospital on March 23 on account of being a Kasaragod native. Haji was a dialysis patient at the hospital. “We were unable to contact his doctor at the time,” his relatives said. Haji, who was on the ventilator, lost his life Monday morning.

One more from Kerala dies as Karnataka police stop ambulance at border
Kunjathoor native Abdul Hameed and Bandwal native Fathima also lost their lives due to the closing of the interstate border.

The district authorities has appealed to the Government to intervene in the matter and influence Karnataka as to lift a ban in crossing over for ambulances carrying critical patients.

The people of Kasaragod are largely dependent on the medical facilities in Mangaluru for critical illness care.

The Kasaragod MP, Rajmohan Unnithan has said he would move the Supreme court against this.

Kerala Chief Minister Pinarayi Vijayan has already taken up the issue with the Centre.

Kerala HC takes up issue with Karnataka AAG

The Kerala High Court on Monday sought the views of the Advocate General of Karnataka on the issue of the government of the neighbouring state blocking its borders with Kerala.

Considering a Public Interest Litigation (PIL) filed by Kerala High Court Advocates Association, seeking a direction for opening the roads, a bench comprising Justices A K Jayasankaran Nambiar and Shaji P Chali requested the Advocate General of Karnataka to join the hearing at 11 am on Tuesday through video conferencing.

The Court orally observed that the blockades erecting embankments on the inter-state roads would affect the people's right to life.

The Karnataka government blocked the state highway with to prevent movement of vehicles carrying essential goods and people seeking emergency treatment at hospitals in the city of Mangalore bordering Kasaragod.

With 97 infected patients, Kasaragod has the largest number of COVID-19 cases in Kerala. 7,437 people are under observation in the district.

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