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
March 29,2020

New Delhi, Mar 29: "What corona? My children are hungry, they have walked from Gurugram with me do you think corona is what I fear?," Yogesh Gangwar who is salesman in a cloth showroom said as he wiped his tears.

Many others regret for not leaving the city early on.

"God knows when we will reach our hometown. My family was telling me to leave work early in March and get back, but I avoided suggestions and now I am stranded here," Babu Ram who hails from Rampur and works at a plastic recycling factory here in Mundka told media.

Migrant labourers were forced to walk as the public transport were closed and borders were sealed due to the lockdown.

"There is no food to eat, I cannot pay rent of room without my daily wages so I decided to walk with my family from Narela to here. I just hope I get a bus soon," Revati, who works as construction labour said as she fed her three-year-old with pieces of bread that one of the policemen at Anand Vihar gave her.

However, when Yogi Adityanath-led BJP government in Uttar Pradesh decided to deploy around 1,000 buses to help these workers reach their respective hometowns, thousands of them reached Anand Vihar ISBT with a hope to catch one of these buses.

The Delhi government also announced that 100 buses have been deployed to help those trying to reach to their homes in other states on foot.

In order to avoid the spread of the virus, the police asked the people to stand in three queues and also asked the people to de-board the overcrowded buses.

Earlier, budget passenger carrier SpiceJet had offered its aircraft to operate few flights from Delhi and Mumbai to Patna to take migrant labourers, particularly from Bihar, who have got stuck in various parts of the country due to COVID-19 related lockdown.

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News Network
March 14,2020

Mangaluru, Mar14 (UNI) In view of prevailing Global situation, Coast Guard Karnataka took initiatives for creating awareness among the CG Personnel, Civilian Staff and Families on precautions so that the contagious Coronavirus be prevented.

For the benefit of CG personnel posters have been displayed at entrance and prominent places in office premises and residential areas including the CG KG School.

All CG Personnel and their families were advised to frequently wash their hands with sanitiser or soap and water at regular intervals. They are also requested to cover their nose and mouth with handkerchief or tissue while coughing or sneezing. It is advised to consult doctor if there is fever, difficulty in breathing, coughing, all being symptoms of Corona Virus.

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coastaldigest.com news network
June 27,2020

Mangaluru, Jun 29: As many as 49 fresh covid-19 cases were reported in Dakshina Kannada district in past 24 hours taking the district’s tally to 568.

At the same time 38 persons were also discharged from the hospital after complete recovery from covid 19.

Out of the 49 positive cases, 14 persons had returned from Saudi Arabia, UAE, and Qatar. 17 persons had contracted the disease from patient number 9590. 3 persons are suffering from an influenza-like illness (ILI), and 4 persons are suffering from Severe Acute Respiratory Infection.

The health officials are tracing the contacts of six others. All the 49 persons have been shifted to hospital for treatment. Most of them are said to be asymptomatic.

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