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
July 26,2020

Mangaluru/Udupi, Jul 26: Karnataka’s twin coastal districts of Dakshina Kannada and Udupi have recorded 369 new coronavirus positive cases and 10 more deaths related to the covid-19 in past 24 hours. 

Dakshina Kannada

With 199 new covid-19 cases, DK’s covid toll mounted to 4,811. The district also recorded eight new covid-related deaths. The death toll mounted to 123. 

Among the 199 new cases are 31 primary contacts, 73 with influenza-like illness (ILI), and 10 with severe acute respiratory illness (SARI). As many as 83 cases are under investigation. Two of the patients have international travel history.

Eight deaths:

A 71-year-old man from Mangaluru, who was admitted to a private hospital on July 19, passed away on July 23. He was diagnosed with ARDS/multiorgan dysfunction, chronic renal disease, diabetes, and hypertension. His throat swabs tested positive for covid-19. 

A 70-year-old man from Mangaluru, who was admitted to a private hospital on July 20, passed away on July 24. He had developed sepsis, chronic kidney disease, lower respiratory tract infection, and other ailments. 

A 55-year-old man from Puttur was admitted to a private hospital on July 23, and passed away a day later. He was diagnosed with septic shock with acute kidney injury with severe metaboic acidosis. 

A 56-year-old man from Mangaluru who was admitted to a private hospital on July 20 passed away on July 24. He was suffering from acute respiratory distress syndrome, multi-organ dysfunction syndrome and ischemic heart disease.

A 72-year-old man from Mangaluru who was admitted to a private hospital on July 18 passed away on July 24. He was suffering from refractory hypoxemia/refractory ARDS, septic shock, secondary bacterial infection, renal failure, acute coronary event, and other ailments. 

A 45-year-old woman from Mangaluru who was admitted to a private hospital on July 24 passed away the same day. She had been diagnosed with metastatic carcinoma of right lung and pneumonia. 

A 55-year-old man from Mangaluru who was admitted to a private hospital on July 21 and passed away on July 24. As per the district bulletin, he was suffering from refractory hypoxemia/refractory ARDS, septic shock, secondary bacterial infection, renal failure, acute coronary event, and other ailments.

A 70-year-old man from Mangaluru suffering from severe pneumonia with ARDS, multiorgan dysfunction, sepsis, chronic kidney disease and hypothyroidism was admitted to a private hospital on July 24 and passed away the same day.

Though the above patients contracted coronavirus, the exact cause of their deaths is being investigated by a team of experts and their report is awaited.

Udupi

The district recorded 170 new covid-19 cases and the total confirmed cases mounted to 3,388. Among the new cases, 86 are in Udupi, 31 in Kundapur, and 52 in Karkala. They include 106 male and 63 women. As many as 2,133 patients have been discharged so far, and 1,241 cases are currently active. 

The district also recorded two covid-19 related deaths – a woman and a man. One is a 63-year-old resident of Byndoor and the other is from Udupi's Indiranagar area. Both had been admitted to the ICU of a private hospital. 

Byndoor resident passed away on the night of Saturday July 26, the Udupi resident died on Sunday. The last rites of both the deceased were conducted as per protocol.

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News Network
January 20,2020

Bengaluru, Jan 20: The suspense over chief minister BS Yediyurappa expanding his council of ministers is set to continue until after he returns from his trip to attend the World Economic Forum (WEF) in Davos, Switzerland.

Yediyurappa, who heads a 10-member delegation to the Swiss ski resort, left on Sunday. Prior to his departure, he told reporters cabinet expansion will happen only after his return on January 24. “I discussed the issue with [BJP] national president Amit Shah for 30 minutes or so. He has given a positive response and I will expand the cabinet within two days after my return,” Yediyurappa said.

But sources said Shah, during his visit to Hubballi on Saturday, had indicated the exercise is likely to be delayed further as the central leadership will be busy with the assembly elections in Delhi. “Indications are there is no possibility of expanding the cabinet until February 11 when the electoral process for the Delhi elections ends,” said a source.

The development has obviously left ministerial aspirants, especially defectors from Congress and JD(S) who were re-elected on BJP tickets last month, restive. Moreover, while Yediyurappa has promised ministerial berths to all MLAs who switched to the BJP from Congress and JD(S), sources say Shah is only in favour of inducting six defectors (11 of whom won MLA seats on saffron party tickets in the byelections) into the cabinet.

“Shah’s advice to Yediyurappa is to strike a balance between defectors and loyalists. His concern is loyalists should not be left disappointed, while justice should be served to the defectors as well,” said a BJP functionary.

Meanwhile, KS Eshwarappa, senior party functionary and minister for rural development, said the BJP would never let down the defectors. “The party is indebted to them and I am sure they will all be rewarded,” he said.

BC Patil, one of the defectors, said some of them had met Shah in one-on-one meetings in Hubballi. “It was more a courtesy call and the issue of cabinet expansion didn’t come up during the meeting,” he said.

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News Network
July 22,2020

Mangaluru, Jul 22: On the direction of the Karnataka government, private medical colleges in Dakshina Kannada have reserved 4,000 beds for the treatment of Covid-19 infected patients.

With this, the district will have a total of 4,720 beds for the treatment including that from the government set up.

The district administration has directed the eight private medical colleges to reserve 50 of its beds for treating the infected patients. Accepting the direction of the district administration, the management of medical colleges have submitted details on the beds reserved to the authorities concerned.

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