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

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 19,2020

Hubli, Feb 19: The Karnataka Police on Wednesday registered a case against unknown persons for assaulting three Kashmiri students in the court premises here.

A suo motu FIR has been registered at Vidyanagar police station of Hubli in which assault charges have been filed against 10 to 15 unknown people.

It can be recalled that on February 17 these three Kashmiri students were attacked in court premises after they were produced in court on charges of sedition.

The Kashmiri students were arrested here on February 15 after their video in which they are seen allegedly raising pro-Pakistan slogans went viral.

The students were studying at the KLE Institute of Technology on a central government scholarship.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Media Release
April 7,2020

Mangaluru, Apr 7:  In the wake of COVID-19 lockdown in the country, a delegation from Highland Islamic Forum, Mangalore headed by Rizwan Pandeshwar, HIF Ration Kit Co-coordinator met Mangalore South Constituency MLA Mr. Vedavysa Kamath, Mayor Mr. Diwakar and MCC  Opposition Leader Mr. Abdul Ravoof on 6th April with an aim to join their hands with our local authorities in a bid to serve the daily wage earning families in and around Mangalore, during this emergency period. HIF delegation included Secretary Ausaf Hussain, Executive members Nazim SS, Adel Parvez, Nabeel Kudroli and Saleem Makkah.

HIF delegates handed over 300 COVID-19 Emergency relief ration kits to these local authorities, of which 100 each will be distributed to the poor in their respective areas among all faiths irrespective of caste or religion. The ration kits included grocery items and other essential commodities.

HIF Delegation said that Highland Islamic Forum is a prestigious charitable organization in Mangalore operating in the undevided D.K. District since last 8 years offering their hands to the poor and needy families of all faiths like food for the orphans, blood to the patients, water during the crisis time, relief supplies during floods, medicine to the patients, ration kits and homes to the homeless.

During the drinking water crisis in 2016, HIF supplied water facilities to more than 1000 families in Mangalore.  Two years back during the flood, HIF provided necessary commodities to the flood victims in Dakshina Kannada District. During the shortage of blood in Mangalore hospitals, HIF arranges blood donors camps and provide the blood to the patients.  HIF spends one day with orphans every month. HIF charitable activities have been well recognized by the kind hearted people in Dakshina Kannada District.

MLA Vedavysa Kamath, Mayor Diwakar and Mangalore City Corporation opposition leader Abdul Ravoof lauded the selfless efforts of HIF team in serving the poor and needy families in the society.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
February 27,2020

Yadgir, Feb 27: A four-year-old girl and her four-month-old sibling died after consuming pesticide mistaking it to juice at Kodal village in Vadagera taluk of Yadgir district on Wednesday.

After noticing her daughters lying lifeless, mother Shehnaz attempted suicide by consuming poison.

Khairunna (4) mistook pesticide for juice and consumed it while her mother was busy doing household chores. She also reportedly made her four-month-old sister drink. 

Upon seeing the siblings lying lifeless, Shehnaz, fearing her husband and mother-in-law, attempted suicide by consuming poison.

All three were rushed to Yadgir district hospital. The siblings died while their mother is battling for her life.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.