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 16,2020

Bengaluru, Feb 16: The Central Crime Branch has recovered blank firearms from Saddaguntepalya Police Station limits.

As of now, two persons have been arrested in this regard. They have been identified as Mohd Junaid and Mohd Tabrez. The officials have recovered 28 blank firearms and 76 blank bullets.

"The two accused -- without having any license -- were in possession of these huge number of weapons," Sandeep Patil, Joint CP, Crime, told media.

As per the preliminary investigation, there has been no record of such cases in Bengaluru. "But we are verifying if other states have any (such) case," added the Joint CP

According to investigations, it was noted that the weapons were purchased from Mumbai at an estimated cost of Rs 1 lakh per weapon.

Further investigation is currently underway.

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.
costaldigest.com news network
June 28,2020

Mangaluru, June 28: Three fresh deaths in last 24 hours have taken the total number of covid-19 deaths in Dakshina Kannada district to 13.

While a 31-year-old youth from Idya in Surathkal and a 57-year-old woman from Bantwal passed away last night, a 52-year-old woman from Jokatte breathed her last today. 

The youth from Suratkal breathed his last in Wenlok. The woman from Bantwal’s Loretto Padav village was unwell for last 1 year. She was tested positive three days ago and passed away at a private hospital. 

The woman from Jokatte was reportedly suffering from tuberculosis. On June 26, she was admitted to a private hospital in the city, where she was tested coronavirus positive.

As per the district health bulletin on Saturday June 27 evening, a total of 12,919 samples have been sent for tests till date, out of which 12,198 have turned out negative, and 576 positive, including 10 persons from other districts. 

Out of these, 148 are currently active. As many as 416 persons have recovered and been discharged.

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
May 31,2020

Mangaluru, May 31:  Even as the worst locust attack on India in recent years raised concerns over its impact on crops, swarms of locusts have triggered panic in Karnataka’s Dakshina Kannada too. 

Farmers in the coastal district were taken aback when they found the swarms of locusts, which they feared as the arrival of desert locusts in the region.

According to reports, Renjalady village under the limits of Nuji Baltila Gramp Panchayats in Kadaba taluk and Shirlalu village in Belthangady taluk witnessed locust attacks in last couple of days. 

“Locust swarms were seen in many areas. We have also alerted agriculture department. Already insects have destroyed crops of many farmers,” said a farmer in Shirlalu village.  

Joint director of Dakshina Kannada district agriculture department MC Seetha confirmed that officials have received information from villagers about the locust scare and entemologists have already visited the place to collect more information.

Not Desert Locusts?

“We contacted entemologists and forwarded the pictures that farmers sent to us. Looking at the picture, entemologists have opined that it may be calotropis locust or colour grasshopper. Desert locusts usually arrive in lakhs,” said Ms Seetha. Desert locusts that are destroying crops in other parts of India may not come to Dakshina Kannada, she 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.