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
February 24,2020

New Delhi, Feb 24: The National Investigation Agency (NIA) is conducting raids at more than 20 locations in Karnataka and Tamil Nadu. The latest raids are being carried out in connection with ISIS conspiracy cases.

More details are currently awaited regarding the cases.

Meanwhile, NIA had on February 15 filed a charge sheet against two Lashkar-e-Toiba (LeT) terrorists before the agency special court, Jammu. The two terrorists are identified as Khalil Ahmad Kayani (34) and Mohammad Nazeem (23), both residents of Haveli Farwad Kahuta district in Pakistan occupied Kashmir (PoK).

The case is related to the arrest of the two accused near Nilkanth Nala, approximately 700 metres inside the Indian side of LoC, in Gulmarg Sector of Baramulla district.

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News Network
February 3,2020

Kasaragod, Feb 3: The third novel coronavirus case has been reported in India, with another Keralite student who returned from Wuhan University on Monday testing positive for the infection.

The medical student is in an isolation ward at Kanhangad government hospital in Kasaragod, Health Minister K K Shailaja informed the state assembly.

The condition of the student is "stable", she said.

Out of the 104 samples tested till Sunday, three have tested positive.

This is the third positive case reported from Kerala.

Two earlier positive cases, also of students who came back from Wuhan, the epicentre of the virus, were reported from Thrissur and Alapuzha districts.

The minister made the statement in the assembly under Rule 300 in the wake of three positive cases reported from the state.

A total of 1,999 people, who have a travel history from China and other affected countries, are under observation in Kerala, of whom 75 are in isolation wards of various hospitals.

The remaining 1,924 are under home quarantine as per a medical bulletin issued on Sunday night.

The minister has made it clear that those under observation at home should keep away from public functions and should not participate in any events or go out of their homes during the 28 day incubation period.

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coastaldigest.com news network
May 22,2020

Mangaluru, May 22: There will be complete lockdown in Dakshina Kananda from 7 p.m. on Saturday (May 23) to 7 a.m. on Monday (May 25). 

Announcing this today, Deputy commissioner Sindhu B Rupesh clarified that there would be no restrictions on sale of newspapers, vegetables, fish, meat, milk and medicine.

Other shops, hotels and bars will remain closed. Movement of private vehicles also banned during this period.

Under lockdown period, people are instructed to stay indoors and all non-essential activities are restricted. 

Under coronavirus lockdown, people can step out only for essential activities like medical supplies, grocery shopping, and hospital appointments.

Wedding with permission

If marriages have been scheduled already on Sunday, they will be considered as a special case. However, prior permission is must for scheduled weddings, said the deputy commissioner.

Marriages can be permitted by ensuring social distancing, capping the number of guests at 50 and strict compliance with all other guidelines.

No AC, no consumption of liquor and paan, no invitation to people aged above 65 and below 10 and also pregnant women are some of the guidelines to be followed for holding marriages or events.

Containment zones 

In the corona containment zones that have been sealed no one can step out, only home delivery of essential services are allowed. Only movement of medical vehicles will be allowed and no one will be allowed to perform any other activity. No one will be allowed to step out of their home even for essential services. The govt may take legal action if anyone is seen out of their home.

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