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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coastaldigest.com news network
April 30,2020

Bengaluru,  Apr 30: As many as 30 new COVID-19 cases have been confirmed in Karnataka from April 29, 5:00 pm to April 30, 5:00 pm, taking the total number of cases to 565, informed the State Health Department on Thursday.

Meanwhile, a total of 1,718 new cases were reported in the last 24 hours, taking the total number of cases to 33,050 in the country.

A total of 630 patients have recovered in the last 24 hours, as per the latest data provided by the Union Ministry of Health and Family Welfare.

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News Network
February 13,2020

Bengaluru, Feb 13: 'Karnataka Bandh' call given by various Kannada organisation demanding implementation of Sarojini Mahashi report for ensuring job reservation to local people (Kannadigas) in the Private and government organisation, including industries, evoked mixed response in the State on Thursday.

The Bandh call was given by the “Karnataka Sanghatanegala Okkoota”, comprising a few factions of “Karnataka Rakshana Vedike” (KRV) and was backed by Ola-Uber Cab Drivers’ Association, a few auto unions, farmers’ associations, street vendors association, trade unions and transporters’ associations.

Meanwhile, Airport Taxi Services also supported the Bandh which forced flight passengers to find it difficult in finding the transport for reaching their destination in time. Fortunately, BMTC bus services at Kempegowda International Airport (KIA) was available at the Airport.

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News Network
July 3,2020

Bengaluru, Jul 3: Karnataka on Friday reported its biggest single day spike of 1,694 new COVID-19 cases, taking the taking the total number of infections in the state to 19,710, the Health department said.
The state also recorded 21 fatalities pushing the number of deaths to 293.

The day also saw 471 patients getting discharged after recovery; even as 201 patients in the state were undergoing treatment in ICU. Of the 1,694 fresh cases reported on Friday, a whopping 994 cases were from Bengaluru Urban alone.

As of July 3 evening, cumulatively 1,9710 COVID-19 positive cases have been confirmed in the state, which includes 293 deaths and 8,805 discharges, the Health department said in its bulletin.

It said, out of 10,608 active cases, 10,407 patients are in isolation at designated hospitals and are stable, while 201 are in ICU.

The 21 dead include five from Bengaluru Urban, three each from Chikkaballapura and Kalaburagi, two each from Vijayapura and Shivamogga and one each from Ballari, Hassan, Davangere, Bidar, Raichur and Bengaluru Rural.

Out of 21, fourteen are men between the age 48-87 years, and seven women between 25-75 years.

Those dead include those with the history of Severe Acute Respiratory Infection (SARI), Influenza-like illness (ILI), inter-state and inter-district travel and cardiac patients.

The contact history of at least four dead people is under tracing.

Out of 1,694 positive cases on Friday, contacts of the majority of the cases are still under tracing.

Among the districts where the new cases were reported, Bengaluru Urban accounted for 994, followed by 97 from Ballari

and Dakshina Kannada, Kalaburagi 72, Tumakuru 57, Bengaluru Rural 44, Dharwad 38, Mysuru 35, Mandya 33, Bidar 28, Chamarajanagara 24, Shivamogga 23, Gadag 19, sixteen each from Udupi and Kodagu, Yadgir 14, thirteen each from Hassan and Belagavi, Kolar 11.

Bengaluru Urban district tops the list of positive cases, with a total of 7,173 infections, followed by Kalaburagi (1,560) and Udupi (1,258). Among discharges, Kalaburagi tops the list with 1,143 followed by Udupi (1,093) and Yadgir (855).

A total of 6,71,934 samples have been tested so far, out of which 18,307 were tested on Friday alone.

So far 6,35,582 samples have been reported as negative, and out of them 16,290 were reported negative on Friday.

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