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
March 6,2020

Mysuru, Mar 6: A BJP worker was stabbed to death by unidentified persons at his apartment in Mysore in the early hours of Friday, police said.

Anand in his early thirties, was reportedly attacked with a broken beer bottle shortly after he returned home following his late night birthday party, police added.

Following information from neighbours in the apartment, police rushed to the spot and recovered the body.

"The murder took place between 3 am and 4 am. We are investigating who was with him at the time and what was the motive behind the killing," Mysuru police Commissioner Dr Chandragupta told reporters.

Police said further investigations are on to ascertain the motive and people behind the killing.

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News Network
April 18,2020

Mangaluru, Apr 18: Sauharda Forum in Moodbidri has placed a food-counter stand near Krishnakatte in Moodbidri here to feed the hungry during the lockdown.

Due to strict implementation of lockdown to prevent the spread of COVID-19, shops and hotels have remained closed since last one month posing a huge difficulty for many.

Stranded migrant labourers and others can collect water bottles, fruits, biscuits, and other eatables free of cost by the people at the stand.

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News Network
April 28,2020

Bengaluru, Apr 28: Ayurveda company, TotalAyurvedaCare.com recently launched a novel telemedicine platform that blends traditional Ayurvedic practices with modern technology, giving patients face-to-face interactions with Ayurvedic doctors.

Through the website, patients can book an appointment with a doctor and receive a consultation. Following this consultation, the doctor will prescribe Ayurvedic medicines and provide nutritional advice.

"COVID-19 has brought many unexpected changes to our lives, especially in the healthcare sectors where patients are now asked not to visit hospitals or doctors clinics unless it is a dire emergency. While social distancing and hand washing are some of the keys to containing the spread of the virus, we realized that boosting one's immunity plays a very vital role in keeping healthy. Our Telemedicine portal is ideal as patients can have access to Ayurvedic doctors at the comfort of their homes while minimizing risk to both patient and doctor", said Ed Lateef, Founder and CEO of TotalAyurvedaCare.com.

"The holistic care and treatment is completely personalized for every individual. With highly qualified and experienced doctors, we are on a mission to make the global community a healthy and happy place with Ayurveda. The online platform of TotalAyurvedaCare.com is for everyone to transform their lives. Ayurveda is the science of life and longevity and teaches us about the power of nature, its cycles, and its elements. We understand that Ayurveda is aimed at not only treating the condition but also helps to maintain the balance of soul and mind", he added.

TotalAyurvedaCare's objective is to increase accessibility of Ayurvedic treatments, with the streamlined website allowing patients to register for online consultation easily.

During the registration process, the patient will have to select their condition, doctor of choice and schedule the appointment. Payments occur online through a secured payment gateway.

Currently, the platform supports payment methods including netbanking, debit card, credit card, and PayTM. The platform also allows patients to review their doctors.

TotalAyurvedaCare.com is a division of Total Herbal Care, a company with strategic interests in herbal brands. Founded by Ed Lateef in 2001, for the retail and distribution of Ayurvedic products in the US, it also began operations in Europe in 2003 and then was merged with The Himalaya Drug Company LTD Europe (SIA The Himalaya Drug Company), which was co-founded by Ed Lateef.

As a part of their launch, TotalAyurvedaCare.com is offering free appointments of 30 minutes each for the first 200 participants. The online Ayurvedic Doctor consultation from Total Ayurveda Care is suitable for all the age groups including children.

The highly qualified and experienced Ayurvedic physicians offer personalized consultation for multiple health issues like diabetes, obesity, skin conditions, hair issues, hypertension, stress, anxiety, gastrointestinal problems, etc.

Total Ayurveda Care also offers specialized nutritional consulting, which is based on your current state of health, dietary habits and health issues.

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