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
January 24,2020

New Delhi, Jan 24: A nurse from Kerala employed at a hospital in Saudi Arabia has tested positive for the deadly novel coronavirus, Union minister of state for external affairs V Muraleedharan said on Thursday.

The minister confirmed that about 100 Indian nurses working in the Saudi Arabia hospital were tested following the threat of coronavirus and one of them was found infected by the deadly virus.

Taking to Twitter, MoS (MEA) Muraleedharan said, "About 100 Indian nurses mostly from Kerala working at Al-Hayat hospital have been tested and none except one nurse was found infected by Coronavirus. Affected nurse is being treated at Aseer National Hospital and is recovering well."

Earlier in the day, he had said that he was in touch with the Indian consulate in Jeddah to provide all possible support to the nurses quarantined at Al-Hayat hospital.

"Spoke to @CGIJeddah on Indian nurses quarantined at Al-Hayat Hospital, Khamis Mushait, Saudi Arabia due to Corona virus threat. They are in touch with hospital management and Saudi foreign Ministry. Have asked our Consulate to provide all possible support", he had tweeted.

Kerala chief minister Pinarayi Vijayan on Thursday wrote to the external affairs ministry seeking intervention in Corona outbreak among Kerala nurses in Saudi Arabia

"Corona outbreak among nurses in Azir Aba Al Hayat hospital in Saudi Arabia should be considered serious and necessary steps must be taken", he had said through the letter.

The chief minister had also requested MEA to communicate with Saudi Arabia to ensure proper treatment and protection for the patients.

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.
News Network
July 15,2020

Bengaluru, Jul 15: Toyota Kirloskar Motor (TKM) has announced temporary halt of production at its plant in Bidadi, which is on the outskirts of Bengaluru.

“Halting production will be from July 14 (second shift) to July 22 (first shift) and this is in accordance with the directives issued by the Government of Karnataka as well as to support the Govt. in their constant efforts to flatten the curve of the rising Covid-19 positive cases in Karnataka,” a statement from the company said.

Bengaluru Urban and Rural, and other districts are, are under lockdown from 8 pm on July 14 to 5 am on July 22.

“Since the onset of the pandemic, TKM has adopted a very proactive and multi-faceted approach to safeguard the physical as well as the mental well-being of all its stakeholders including customers, its employees, dealer and supplier partners,” the company said.

“The office staff at TKM’s corporate and regional offices, continue to work from home to help mitigate risks. In addition to the safety protocols that are being followed, TKM has provided safety kits containing essential items like sanitisers, 3 ply masks and handwashes to 5000 employees, their family members and their neighbourhoods.

“TKM understands the urgency of the situation. During these difficult times, TKM is taking obligatory actions to contain further spread and will continue to respond in accordance with guidance issued by the Government and its internal standards,” it added.

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.
Agencies
July 5,2020

The deadly coronavirus that entered India while there was still nip in the air has beaten rising mercury, humid conditions, unique Indian genome and has entered monsoon season with more potency as fresh cases are only breaking all records in the country.

India recorded a single-day spike of record 24,850 new coronavirus cases on Sunday, taking its total tally to 6.73 lakh corona-positive cases.

Top Indian microbiologists were hopeful in March that after the 21-day lockdown, as summer approaches, the rise in temperature would play an important role in preventing the drastic spread of COVID-19 virus in India.

Several virologists hinted that by June this year, the impact of COVID-19 would be less than what it appeared in March-April.

The claims have fallen flat as the virus is mutating fast, becoming more potent than ever.

According to experts, the novel coronavirus is a new virus whose seasonality and response to hot humid weather was never fully understood.

"The theory was based on the fact that high temperatures can kill the virus as in sterilisation techniques used in healthcare. But these are controlled environment conditions. There are many other factors besides temperature, humidity which influence the transmission rate among humans," Dr Anu Gupta, Head, Microbiologist and Infection Control, Fortis Escorts Heart Institute, told IANS.

There is no built-up immunity to COVID-19 in humans.

"Also, asymptomatic people might be passing it to many others unknowingly. New viruses tend not to follow the seasonal trend in their first year," Gupta emphasized.

Globally, as several countries are now experiencing hot weather, the World Health Organization (WHO) reported a record hike in the number of coronavirus cases, with the total rising by 2,12,326 in 24 hours in the highest single-day increase since COVID-19 broke out.

So far over 11 million people worldwide have tested positive for the disease which has led to over 5,25,000 deaths, according to data from Johns Hopkins University. The US remained the worst-hit country with over 28 lakh cases, followed by Brazil with 15.8 lakh.

According to Sandeep Nayar, Senior Consultant and HOD, Respiratory Medicine, Allergy & Sleep Disorders, BLK Super Speciality Hospital in New Delhi, whether temperature plays a role in COVID-19 infection is highly debated.

One school of thought said in the tropical regions of South Asia, the virus might not thrive longer.

"On the other hand, another school of thought has found that novel Coronavirus can survive in a hot and humid environment and tropical climate does not make a difference to the virus. According to them, this is what distinguishes the novel coronavirus from other common viruses, which usually wane in hot weather," stressed Nayar.

Not much has been studied in the past and no definite treatment or vaccine is available to date.

"Every day, new properties and manifestation of the disease come up. As of now, the only way to prevent this monster is by taking appropriate precautions. Hand hygiene, social distancing, cough etiquette and face masks definitely reduce spread of COVID-19 infection," Nayar told IANS.

Not just top Indian health experts, even Indian-American scientists had this theory in mind that sunshine and summer may ebb the spread of the coronavirus.

Ravi Godse, Director of Discharge Planning, UPMC Shadyside Pennsylvania in the US told IANS in April: "In the summer, the humidity can go up as well, meaning more water drops in the air. If the air is saturated with water and somebody sneezes virus droplets into such air, it is likely that the droplets will fall to the ground quicker, making them less infectious. So the short answer is yes, summer/sunshine could be bettera.

According to Dr Puneet Khanna, Head of Respiratory Medicine and Pulmonology, Manipal Hospital, Delhi, COVID-19 death rates are not too different in tropical countries but since the disease affected them late it was yet to show its peak in these areas.

"The virus can survive well in hot and humid countries and this is proven now," he stressed.

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.