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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News Network
May 8,2020

Mangaluru, May 8: Migrant workers, stranded in Karnataka due to lockdown, staged a protest on Friday at the Central Railway Station here, demanding to be sent back to their respective native places.

The workers demanded the state government to take measures and send them back to their homes.

Maintaining social distancing and covering their faces with masks, the workers were holding placards which read -- "We want to go home Jharkhand, We want justice and we want to go home."

They appealed to the state government to arrange trains and buses to ferry them to their native places and threatened to walk home if denied transport.

Several protests have erupted in different parts of the country, such as Andhra Pradesh and Kerala, as stranded labourers took to the roads demanding to be sent back home.

The Ministry of Home Affairs on May 1 had issued an order to extend the ongoing lockdown by two more weeks from May 4 with some relaxations.

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News Network
July 9,2020

New Delhi, Jul 9: The Central Board of Secondary Education has strongly defended its decision to drop topics like democratic rights, citizenship, federalism, secularism etc in the name of reducing the syllabus for Classes 9 to 12 due to COVID-19 pandemic. 

The board has claimed that the dropped lessons "are either being covered by the rationalised syllabus or in the Alternative Academic Calendar of NCERT".

The CBSE said it had to come up with the clarification after realizing its decision was "interpreted differently".

"The rationalisation of syllabus up to 30 per cent has been undertaken by the Board for nearly 190 subjects of class 9 to 12 for the academic session 2020-21 as a one-time measure only. The objective is to reduce the exam stress of students due to the prevailing health emergency situation and prevent learning gaps," it said.

While it has said that no questions can be asked from the reduced syllabus in the next board exams, the CBSE has also directed schools to follow alternative calendars prepared by the NCERT.

"Therefore each of the topics that have been wrongly mentioned in media as deleted have been covered under Alternative Academic Calendar of NCERT which is already in force for all the affiliated schools of the Board," it clarified.

On Wednesday, West Bengal CM Mamata Banerjee tweeted: "Shocked to know that the central Government has dropped topics like citizenship, federalism, secularism and partisan in the name of reducing CBSE course during the COVID crisis."

"We strongly object to this and appeal the HRD Ministry to ensure these vital lessons aren't curtailed at any cost," Banerjee added.

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News Network
May 25,2020

Bengaluru, May 25: After facing flak from the opposition for skipping quarantine rules to contain COVID-19 spread, Union Minister Sadananda Gowda on Monday said there are certain exemption clauses for those who hold certain responsible posts, adding that he cannot go under quarantine as he has to ensure medical supply in every part of the country.

"Guidelines are applicable to all citizens, but there are certain exemption clauses, for those who hold certain responsible posts," Gowda told media on being asked about allegations by opposition parties that he did not go to required institutional quarantine after domestic air travel from Delhi to Bengaluru.

"I am a Minister and I am heading Pharmaceutical Ministry. If the supply of medicines and other things is not proper then what doctors can do for patients, is it not a failure of government? It' is my responsibility to ensure the supply of medicines to each corner of the country," he said.

Earlier in the day, the BJP MP, who arrived at Bengaluru airport from Delhi and straight away got into his car and drove to his residence. He skipped the institutional quarantine measures as set by the Central government.

Karnataka Director General of Police Praveen Sood said: "Incoming domestic flight passengers from Maharashtra, Rajasthan, Delhi, Gujarat, Tamil Nadu, Delhi and Madhya Pradesh will undergo 7-day institutional Quarantine followed by home quarantine."

Comments

Kannadiga
 - 
Monday, 25 May 2020

This is called has nagpur soldiers. He might think this virus has given excuse to all bjpean's or why he jumped out from the airport quarantine regulation. If the virus infected to any others what will.he do. What will his media will telecast. Same like Delhi they will target some other community. 

 

All must be away from him and his associates.

Here it is the duty of each individuals to keep distance and stay safe.

Not like our qualified leaders and ministers

 

 

 

 

 

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