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
June 20,2020

Udupi, Jun 20: Movement of heavy vehicles on Agumbe Ghat section was banned till October 15, following heavy rain lashing due to onset of South West Monsoon.

The Agumbe Ghat connects Shivamogga with the Udupi district. There is a possibility of landslides on either side of the Ghat road if movement of heavy vehicles is allowed during the monsoon, said Udupi DC G Jagadeesh in statement issued here on Saturday.

The movement of all heavy vehicles above 12 tonnes has been banned on the road. Till end of monsoon all the heavy vehicles have to move via Udupi-Brahmavar-Barkur-Shankaranarayana; Siddapura-Hosangady-Hulikal Ghat-Hosanagara-Theerthahalli; Udupi-Karkala-Bajagoli-S K Border-Kerekatte-Sringeri- Shivamogga.

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coastaldigest.com news network
May 20,2020

Mangaluru/Udupi, May 20: Islamic scholars belonging to different schools of thoughts including two prominent Qadis have issued special guidelines asking all Muslims in the region to offer prayers and celebrate Eid al-Fitr at home this year in keeping with the extended covid-19 lockdown.

Eid al-Fitr which marks the end of the month-long dawn-to-sunset fasting of Ramadan is rather a ‘humanitarian event’ than a fiesta. This year Eid is likely to be observed in coastal Karnataka on May 23 or May 24 depending on sighting of the new moon.  

Amid the Covid-19 pandemic, the Muslims are preparing for — and reconciling itself to — a most unusual Eid bereft of all the usual trappings like huge prayer congregations, ceaseless shopping, social visits and the inviting warmth of an Eid Mubarak embrace.

In their separate messages, Udupi Qadi Bekal Ibrahim Musliyar and Mangaluru Qadi Twaqa Ahmed Musliyar have urged Muslims to refrain from all kinds of public gatherings during Eid. Noting that Muslims in the region have followed all the advisories in issued by the government to contain the spread of coronavirus in the blessed month of Ramadan, they have urged them to follow the guidelines during Eid too.

On social media groups, messages like “no new clothes, just wear your best clothes” are being circulated among family and friends, urging people to fill the festive void with the spirit of giving. The suggestions range from paying a needy child’s school fee or someone’s rent to helping a lockdown-hit trader revive his business.

Following guidelines are issued by the top clerics ahead Eid

1) There will be no Eid prayer in mosques or Eid-gahs. Hence, Muslims should offer Eid al-Fitr prayer in their homes with family members.

2) Distributing Zakat al-Fitr among needy is mandatory. However necessary safety measures should be taken while going out such as wearing masks and maintaining physical distance. As there is lockdown from 7 p.m. to 7 a.m. every day, Zakat al-Fitr can be distributed a day before Eid or on the day of Eid before evening. 

3) Women, children and elderly people should not step out of the houses.

4) Avoid visiting graveyards or other places.

5) All mosques are closed due to lockdown. Hence, observe Eid in a simple way and set an example for the society. 

6) Strictly follow all the guidelines issued by the state and central governments

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coastaldigest.com news network
May 5,2020

Mangaluru, May 5: Even though India is all set to bring back Indian nationals stranded abroad through special commercial flights, no flights have been arranged for the repatriation Kannadigas stuck in Kingdom of Saudi Arabia in the first phase (May 7 to May 14). However a few flights will fly from Saudi to Kerala and Delhi.

The government is likely to introduce flights from Saudi Arabia to Karnataka (Bengaluru and Mangaluru Airports) in second or third phase.

Fill the Form

All Indian nationals in Saudi Arabia who seek repatriation are supposed to fill form in the following link: https://t.co/K5Hbmr4cFP 

Meanwhile, the Indian Embassy in Riyadh has clarified that the purpose is only to collect data and no decision has been taken yet regarding resumption of flights.

High airfare

Even though some GCC governments paid the ticket fares to bring back their citizens, the government of India has clarified that it will not pay the ticket fares of Indian nationals stranded abroad. It is predicted that tickets on repatriation flights from Saudi Arabia to India could be costlier than regular airfare.

Only asymptomatic can travel 

As per Standard Operating Protocol, medical screening of passengers would be done before taking the flight. Only asymptomatic passengers would be allowed to travel. During the journey, all these passengers would have to follow the protocols, such as the health protocols, issued by the ministry of health and the ministry of civil aviation," it said in a statement.

Mandatory quarantine

The govt has made elaborate arrangements to conduct medical test on arrival at the Airports. As per plan, based on medical check-up, passengers will be categorised as group A/B/C. Later, they will be quarantined for the mandated days

Respective district administrations have taken steps to quarantine people returning from outside India. Marriages halls, general halls and hostels are being identified for the quarantine.

Comments

SAMSHUDDEEN
 - 
Wednesday, 6 May 2020

I m stucked here..no ikana no money no salary...no food

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