1. Home
  2. Jet Airways shares slump after reports of Etihad's non-binding offer

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

About text formats
  • 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
July 5,2020

Bengaluru, Jul 5: A total number of 32 SSLC students, who took exams between June 25 and July 3 have tested positive for the coronavirus.

Eighty other students are in home quarantine. As per a press release from the Karnataka government here as of July 3, more than 7.60 lakh students wrote the exam, with 14,745 absentees. The report from the government stated that 3,911 students did not attend the exams as they were in a containment zone. A total of 863 students had not attended the exams as they were unwell.

Last week, a Class 10 student from Hassan had tested coronavirus positive. The student reportedly wrote an exam on June 25, despite having taken the coronavirus test. His positive result reportedly came shortly after he finished writing the exam.

Comments

Add new comment

About text formats
  • 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
July 29,2020

Bengaluru Jul 29: There will be a centralised system in place in Karnataka to classify asymptomatic, symptomatic and mild symptomatic persons and recommend treatment based on the severity of the cases, said Medical Education Minister Dr K Sudhakar on Tuesday here.

"Various existing apps related to COVID-19 will be brought under one platform to get real-time information which will assist in strategising allocation of hospitals/beds to the needy. This will probably remove the delay in bed allocation and treatment which is being faced now. The patients will get all information in one phone call," Dr Sudhakar said.

Sudhakar spoke with a team of experts from the government and Infosys.

Referring to a company by name Step 1, which is providing such services in Delhi and Madhya Pradesh, the Minister said that a similar system will be implemented in the state as well.

"This company is having a team of doctors and nurses which is guiding the people whether they need hospital treatment or home isolation after they are tested positive for COVID-19. More than 70 per cent of the positive cases are being asymptomatic or mildly symptomatic and are advised to go for home isolation," the minister said.

"The load on the hospitals is reduced and severe cases can be administered proper treatment. Infosys co-ordinates with the government to provide technical support for this system," Dr Sudhakar added.

Earlier during the day, the minister held a video conference with the heads of private medical colleges to review COVID preparedness.
The government has already passed guidelines to allocate 50 per cent of hospital beds for COVID patients.

Comments

Add new comment

About text formats
  • 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
August 8,2020

Bengaluru, Aug 8: Karnataka government on Friday issued revised guidelines for international returnees.

According to the guidelines, all the travelers shall submit self-declaration form on the Yatri Karnataka online portal at least 72 hours before the scheduled date of travel.

"All travelers shall submit Self-declaration forrn on the Yatri Karnataka online portal (http://www,covidwar.karnataka.gov.in or http://parihara.kaarnateka.gov.in/service38/) least 72 hours before the scheduled date of travel," it read.

It said that Before Boarding Do's and Don, about COV1D-19 quarantine, testing, etc. shall be provided along with ticket to the travellers by the travel agencies concerned.

All passengers shall download Arogya Setu app, Quarantine watch app end Apthamitra App on their mobile devices, (https://covid-19.karnataka.gov.in/new-page/softwares/en).

At the time of boarding the flight/ ship, only asymptomatic travellers shall be allowed in board after thermal screening.

"Deboarding should be done by ensuring physical distancing of two meters. 

Self-declaration form shall be obtained from each passenger in duplicate," the guidelines read.

Karnataka has 75,076 active cases of the virus with 80,281 recovered and 2,897 deaths so far. 

Comments

Add new comment

About text formats
  • 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.