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
July 15,2020

Bengaluru, Jul 15: As on Wednesday, Bengaluru witnessed its first day of lockdown after rising number of Corona cases in the city. In a latest development, popular Kannada actor Dhruva Sarja and his wife Prerana Sarja have tested positive for COVID-19 sending shockwaves in the indutry.

Dhruva Sarja is the nephew of Arjun Sarja and younger brother of Chiranjeevi Sarja who passed away last month after suffering a massive heart attack.

The actor has requested people, who came in contact with them, to get tested immediately.

"My wife and I have both been tested positive for COVID-19 with mild symptoms and hence chosen to get ourselves hospitalised. I'm sure we'll be back all fine! All those who were in close proximity with us please get yourselves tested and remain safe," he tweeted.

In recent times, Mandya MP and popular actress Sumalatha Ambereesh too tested positive, now Dhruva Sarja is the second notable celebrity from Sandalwood to have tested positive for COVID-19.

A source close to the actor's family says that "During Chiranjeevi's funeral last month, some sections of people who had attended had also tested positive, as social distancing rules were not followed by those who attended the funeral. But now, the family has quarantined and there is no cause for worry. Dhruva has also requested all his primary contact to come forward voluntarily and get tested."

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News Network
April 12,2020

New Delhi, Apr 12: Ramping up efforts to "stamp out" coronavirus cases in the state, Kerala Finance Minister Thomas Isaac has said that not only lockdown but intense testing of people and tracing of their contacts are also equally important in the fight against the outbreak.

Kerala, which was the first state in the country to report a coronavirus infection in late January, has also prepared a time table for coming out of the lockdown and there would be district-specific strategies to tackle the situation while the number of cases are on the decline.

In efforts to curb spreading of coronavirus infections, the country is under a 21-day lockdown till April 14 and many states have sought an extension amid rising number of cases. Kerala has proposed extending the lockdown and gradual phasing out after proper assessment.

"Lockdown should go on till we stamp out entire infections. Now, it is not enough to have lockdown. Equally important is that we should have intense testing, tracing and isolating (of people with coronavirus infections)," he said in a telephonic interview.

The government is closely monitoring the situation and there would be region-specific or district-specific strategies in place to tackle the outbreak, he said.

Against the backdrop of the lockdown that has also disrupted economic activities, Isaac said an exit strategy is being prepared and restrictions are being relaxed in certain segments, including agriculture.

Coronavirus India update: State-wise total number of confirmed cases, deaths on April 12

"The number of patients is coming down (in the state). We hope that in the coming days, the decline will be much more faster," he said during the interview late Friday.

On Saturday, the Kerala government said there were a total of 373 confirmed cases of coronavirus infections and 228 patients were under treatment in various hospitals in the state.

Keeping the trend in the last few days, the number of people under observation has come down to 1,23,490. So far, 14,613 samples from people with symptoms were sent for testing and the results of 12,818 samples have come negative, the government said in a statement on Saturday.

Indicating that there would be a calibrated exit from the lockdown, Isaac said the withdrawal would depend on three main factors, including the count of cases and the percentage of people who are under observation.

While emphasising that people must also be fed during the lockdown period, Isaac also said a time table is being prepared by the state to come out of the lockdown.

Even as strict measures are being implemented to deal with the current situation, the state is also preparing for a possible third wave of coronavirus cases.

Three students, who had returned from the Chinese city of Wuhan, were tested positive. They were also the first such cases, to be reported in January-February period, and have recovered. Wuhan was the epicentre of coronavirus infections before it spread to other countries.

Later, there was a second wave of infections in Kerala.

According to the minister, the possibility of a third wave has also been considered for the exit strategy.

"A lot of Malayalees are expected to come back from outside the state. We will welcome them... before that, we want to stamp out all Covid cases in Kerala. Flatten the curve completely so that when these people from outside, they will be quarantined, they will be tested and only then they will be able to integrate with the rest of the community," he said.

The Kerala government's measures, including extensive testing and efforts to trace people who came in contact with coronavirus-infected persons, have helped in curbing spreading of infections.

The state's public healthcare system has also been appreciated in various quarters.

"People are health conscious. There is a demand for quality healthcare services and the response to this demand has been strengthening of the public healthcare system. We have a robust public healthcare system," the minister emphasised.

On April 9, Isaac tweeted about low level of coronavirus spreading in the state.

"International norm for Covid spread is 2.6 per 1 Covid patient. Total number of primary Covid infected who arrived in Kerala from abroad is 254. The secondary spread has been limited to 91. The international mortality rate is 5.75. With just 2 deaths, rate in Kerala is 0.58," he had tweeted.

Death toll due to the coronavirus increased to 273 and the number of cases to 8,356 in the country on Sunday.

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News Network
January 28,2020

Jan 28: Hindu temple processions with an elephant adorned in ornaments carrying the idol, with percussionists and devotees walking side by side, are no new sight in Kerala. However, a similar procession in Kerala's cultural capital, Thrissur, turned heads. Hundreds of Muslims were seen holding hands and clearing traffic to help the procession move smoothly.

Muslims made way for the passage of a Hindu temple procession during their protest against Citizenship Amendment Act(ACT) in Thrissur on Saturday, January 25.

Various Muslim organisations had organised a mass protest in the Swaraj ground in the town. On the same day, the local Bhaktapriyam temple's procession was also taking place. Stuck in a dilemma, the temple authorities approached the police and the Muslim organisations to find a solution. The Muslim organisations then promised to help proceed the temple procession without any obstacles.

Nearly a thousand people who had turned up for the protest volunteered to clear traffic and control the crowd so that the temple procession could smoothly pass through the town.

A video of the procession was shared on Facebook by the Thrissur City Police on Saturday, which showed Muslims holding hands on either side of the procession to make way.

"Humanity is bigger than religion. That's the lesson the residents of Thrissur are giving to the country. Thrissur is truly the cultural capital of Kerala," read the caption of the post in Malayalam. The video soon went viral and was viewed by over 36k views.

Comments

Abdullah
 - 
Tuesday, 28 Jan 2020

I am sure that sanghis especially Amit Shah got lose motion on getting this motion.  But what we can do, even Doctor cant stop it.   Enjoy it dears. 

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