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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coastaldigest.com news network
May 2,2020

Mangaluru, May 2: The Dakshina Kannada district administration is gearing up to make necessary arragements at the Mangaluru International Airport as the Centre has shown green signal to bring back stranded Indians from the Gulf countries. 

Karnataka is making efforts to bring back 10,823 people stuck abroad. Apart from Mangaluru, Bengaluru Airport also will be used. As many as 6,100 people will be transported in first stage with speical flights. Soon after their arrival, the administraion will send them to compulsary quarantinement in Dakshina Kannada, Udupi, Kodagu and other neighbouring districts.

Dakshina Kannada MP Nalin Kumar Kateeel said that the govt has made elaborate arrangements to conduct medical test on arrival at the airport. As per plan, based on medical check-up, they will be categorised as group A/B/C. Later, they will be quarantined for the mandated days, he added.

The following is the break-up Kannadigas stranded abroad: 4,408 people are tourists/visitors, 3,074 students, 2,784 migrants/working professionals and 557 shipping crew.

Countries from where stranded people will be brought back to Karnataka in the first stage include Canada (329), the US (927), the UAE (2,575), Qatar (414), and Saudi Arabia (927).

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News Network
June 25,2020

Bengaluru, Jun 25: State-run Kumara Krupa Guest House in the city will be used as 100-bed COVID-19 treatment center for the designated category patients, Karnataka Health Department Sources said here on Thursday.

According to official sources, one wing of the Guest House with 100-bed rooms of individual occupancy having all the facilities is reserved to work as Covid Care Center (CCC) and it will be used for Ministers, MPs, MLAs/MLCs, Senior officers of above Secretary rank for clinical management.

The total number of positive cases reported till date in the State has increased to 10,118, the sources added.

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coastaldigest.com news network
July 16,2020

Udupi, Jul 16: With two deaths in a single day, and receiving coronavirus positive report of a person who died two days ago, Udupi district’s covid-19 death toll today mounted to eight. 

A-49-year-old resident of Udupi, was admitted to Ajjarkad government hospital for other ailments. He was suffering from multiple health issues like diabetes and respiratory problems.

Last night he was tested positive for coronavirus and hence he was shifted to Dr TMA Pai COVID hospital in Udupi where he breathed his last today. 

A 54-year-old man from Maravanthe in Byndoor taluk, who was suffering from asthma, today died while being taken from one hospital to the other.

He was admitted to a private hospital in Kundapur on the evening of Wednesday. Today he was being shifted to Manipal hospital. However he breathed his last half way through.  

His body was taken back to Kundapur and throat swab of the deceased was sent for testing. As the sample of the deceased person was taken using rapid test kit, his report was available within half an hour and it showed positive for covid-19. 

Meanwhile, throat swabs of a man from Ankola in Uttar Kannada district, who passed away in Manipal Hospital on July 14, were tested positive today. His funeral was held at the Beedinagudde crematorium as per the COVID norms.

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