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
May 2,2020

Bengaluru, May 2: Former chief minister and Congress leader Siddaramaiah have urged the state government to arrange free-transport facilities to those stranded labourers and their family members to return their native places.

In a statement issued here on Friday, the former chief minister criticised the State Government for having decided to collect bur fare from them, ''three-times more than the regular fare''.

Stating that the migrant labourers, who had been stranded ever since lockdown had been clamped in the entire country are not in a position to pay for their travel, Siddaramaiah urged the state government to treat them with human face.

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News Network
February 24,2020

Bengaluru, Feb 24: Census authorities in Karnataka have requested deputy commissioners in the state’s districts to hold outreach and awareness campaigns about the National Population Register (NPR), as they fear misgivings about the exercise could hurt the forthcoming enumeration of population.

The house-listing phase of the Census and updating of NPR will be rolled out simultaneously by mid-April in the BJP-ruled state.

About 1,50,000 enumerators will handle the massive exercise.

Officials believe widespread awareness will help address concerns about the NPR data-gathering process and make people cooperate with enumerators when they visit houses for both NPR and census work.

“Sensing the kind of questions that enumerators may face when they do house visits, in all video conferences with deputy commissioners of districts, we have requested to establish contact with local representatives,” SB Vijay Kumar, director of Census Operations in Karnataka told news agency. “We have asked them to organise outreach programmes to ensure that people’s doubts are resolved before the information gathering work begins,” he added.

Census operations are handled by the Union home ministry. Several district officials are said to have raised concerns about the possibility of people refusing to share information when the work on the census and NPR begins in two months. This would affect the quality of the census work, making the exercise incomplete.

news channel earlier reported that people in parts of Karnataka had declined to share personal information with officials visiting households in connection with government programmes, suspecting them of gathering data for the yet-to-be unveiled National Register of Citizens, following enactment of the Citizenship Amendment Act (CAA) recently.

Kumar said district authorities will train and sensitise enumerators to tread carefully while gathering information. Enumerators will be told not to demand information but seek it gently.

“We will tell enumerators to proactively engage with people. For instance, if an old man in a village does not know his exact date or place of birth, the enumerator may engage in a conversation with the person that may elicit some anecdotes and roughly establish the year and the place of birth,” the census director said.

As of now, the NPR questionnaire has 21queries, but officials say it has not yet been finalised.

With most of the census and NPR data gathering and storage happening digitally this time, the challenge before census officials is to convince people that the data would remain safe.

“Individual data is sealed and all that we can see is collective data. The information is consolidated and tailor-made. We are telling district officials to create awareness about data safety as well,” Kumar said.

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News Network
June 19,2020

Bengaluru, June 19: The throat swabs of a Bengaluru-based Kannada journalist, who passed away on June 18, were tested positive for the covid-19, officials said.

Gauripura Chandru (54), who was one of the sub-editors of Vijaya Karnataka Kannada daily newspaper, had reportedly suffered cardiac arrest.

It is learnt that Chandru wasn’t keeping well for past few days. He collapsed at his home on Thursday afternoon and was immediately rushed to a hospital, where doctors pronounced him dead.

A native of Gauripura in Chitradurga district, Chandru had completed graduation in engineering. However, he had chosen journalism as his profession.

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