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
July 10,2020

Bengaluru, Jul 10: Accredited Social Health Activist (ASHA) workers under the All India Trade Union Congress (AITUC) on Friday held protests in different parts of Karnataka, demanding personal protective equipment (PPE) kits and a salary of at least Rs 12,000 per month.

According to Madhu Kumari, an ASHA worker from Kalaburgi, ASHA workers currently receive a salary of Rs 3,000 per month.

"Our demand is to increase our wages to at least Rs 12,000 per month. We have been making this demand for the last six months but we have not received any response from the authorities. We will not go back to work until we are given an appropriate response. We did not want to create a difficult situation but the government has given us no choice," Kumari told ANI.

Clad in their signature pink saris, the women were holding posters in their hands and raising slogans to demand appropriate salary for their work and the necessary equipment to protect themselves from the ongoing COVID-19 pandemic.

Farhana, an ASHA worker protesting in Shivamogga, said that the women have been making demands for PPE kits since June 30. "We have been taking care of COVID patients for the last few weeks but have not received adequate PPE kits. A few of us received some in the beginning but they were not enough. We are not even given hand sanitiser or masks to protect ourselves," she added.

"We have sent letters to the District Commissioner's Office and to the Ministry of Health and Family Welfare but our pleas have gone unheard. We are protesting to get the attention of the concerned authorities," she added.

They also demanded that authorities to conduct their COVID-19 tests as they have to deal with patients infected with the virus.

Sajida, an ASHA worker in Kalaburagi said, "We are very stressed about the COVID situation. We take care of sick people day in and day out, but no one is there to take care of us. We want the government to conduct COVID tests for all ASHA workers in the state."

Comments

Angry bakth
 - 
Sunday, 12 Jul 2020

ASHA worker its better to sleep in home instead of working and risking your life, 3000 rupes is nothing...who can work home....government of indian is one of the namarad and currupt, you wont get any hike...

 

poor people will survive this COVID but not the rich currupt politician, let them die like dog

 

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coastaldigest.com news network
February 25,2020

Mangaluru, Feb 25: The coastal city of Mangaluru today witnessed yet another major agitation against infamous CAA, NPR and NRC with large number of people gathering at Kudroli’s Tipu Sultan Garden to register their protest against union government’s racist policies.

Addressing the gathering activist B R Bhaskar Prasad said, he knows the RSS inside out as he was associated with it for a prolonged period.

He said the ultimate aim of RSS is to establish a casteist society in India with the micro-minority community of Brahmins having complete control over all other major communities. 

Lambasting Prime Minister Narendra Modi and Home Minister Amit Shah for constantly harassing people of India through back to back contentious legislations, he said that the duo poised to destroy the country.

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News Network
February 6,2020

Bengaluru, Feb 6: Karnataka Chief Minister B S Yediyurappa said that portfolios for the 10 new ministers who sworn in on Thursday will be allocated by February 8.

Speaking to media persons, he said that he will go to Delhi in the coming days and the date of his visit will be finalised soon.

He is expected to meet the high command again to finalise the list of BJP MLAs for three berths in the Cabinet.

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