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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Wish Jet Airways start flying again soon

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New findings: Over 100 sculptures recovered in Mysuru

News Network

January 5,2020

Mysuru, Jan 5: The ongoing pilot project on documentation of all unprotected monuments in Mysuru taluk has yielded significant results with over 100 sculptures recovered from the rural hinterland.

Launched by the Karnataka Department of Archaeology, Museums and Heritage, the project will help map and document the number of monuments in the Taluk. Based on their importance, they will be added to the protected list.

Sources in the Archaeology department said so far the team has completed mapping of monuments in two Hoblis--Varuna and Jayapura.

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Mangaluru: Over 1500 students, teacehrs to take part in ABVP state conference

News Network

February 6,2020

Mangaluru, Feb 6: Over 1500 students and teachers are expected to take part in a three-day State-level conference of the Akhil Bharatiya Vidyarthi Parishat (ABVP) starting on Friday here.

Reception Committee chairman K.C. Nayak and secretary Shantharama Shetty told reporters here today that Deputy Chief Minister C.N. Ashwath Narayana would inaugurate the conference at the Kudmul Ranga Rao Town Hall.

The former ABVP national president and former Nagaland Governor P.B. Acharya would preside over the programme that would be attended by Mangalore University Vice-Chancellor P.S. Yadapadithaya, ABVP national organising secretary Ashish Chauhan and others.

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In this conference students will be taught about how to attack on universities and how to spread the communal agenda of ABVP.

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Control of state power by Hindus absolutely essential: BJP MP Tejasvi Surya

News Network

August 6,2020

Bengaluru, Aug 6: Firebrand BJP Bengaluru South MP Tejasvi Surya on Wednesday said that control of state power by Hindus is absolutely essential for sustenance of Dharma.

His comments, in a series of tweets, came on a day Prime Minister Narendra Modi performed the groundbreaking ceremony for the Lord Ram temple at Ayodhya.

"Dear Hindus, Most important lesson is that control of State power by Hindus is absolutely essential for sustenance of Dharma. When we didn't control State, we lost our temple. When we regained, we rebuilt. The 282 (seats) in 2014 and 303 (seats) in 2019 to Sri Narendra Modi made today possible!", Surya, who is also the party's BJP youth Wing state general secretary, tweeted.

He also said that the survival of India depends on the survival of Sanatana Dharma.

"The Sanatana Dharma, that is nationalism,' Sri Aurobindo had said in his Uttarapara speech. But what does it mean? Along with Jai Sri Ram, the purohits also chanted Bharat Mata Ki Jai - That is Dharmic nationalism. If Dharma survives, India survives," he said in another tweet.

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