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
April 27,2020

Madikeri, Apr 27: Four labourers, who were travelling to Kerala via Makutta on foot, were stopped by Karnataka Forest Department officials and handed over to police.

Police said on Monday that the labourers identified as Anish, Radhakrishna, Shrinil and Prabhakar, who were working in the Coffee plantations in Chembellur and Ontiyangadi. As the roads to Kerala were sealed following lockdown, they were held up in the district.

The forest guards, who spotted them walking through the forest area, brought them back to the town as per the directions of the higher officials last evening. DCF Shivashankar, ACF Konerira Roshni and Ranger Arun Kumar were present.

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News Network
March 27,2020

Bengaluru, Mar 27: With the numbers of COVID-19 optimistic instances rising at an alarming price in Karnataka, the state is on the verge of coming into stage three of the coronavirus epidemic. Which means that the virus is spreading to individuals who haven’t any journey historical past to Covid-19 affected international locations or contact with a COVID-19 optimistic individual with such a historical past.
Consequently, authorities in Karnataka expect a surge in optimistic instances within the coming days. This surge is probably going to come from pockets throughout the state which have a lot of coronavirus suspects, primarily individuals who have returned from Covid-19 affected international locations.

Within the parlance of the corona epidemic fighters, these pockets are referred to as clusters. Bengaluru is one massive cluster with many suspects, a lot of whom are IT professionals who lately returned from Europe, USA and Australia, and many others. The coastal belt is one other cluster, with suspects who’ve lately travelled to Center East. There are different clusters in Karnataka, the place suspects are those that returned after a pilgrimage to Mecca.

Medical schooling minister Ok Sudhakar admitted that the speed of enhance of COVID-19 positives in Karnataka is alarming. For over a month, the state had restricted the variety of optimistic instances to single digits. Nevertheless, within the final 4 days, the quantity has gone up sixfold and Karnataka now has 55 instances, the third largest variety of COVID-19 optimistic instances within the nation.

Dr Sudhakar stated the federal government was changing each authorities hospital right into a quarantine centre to accommodate any variety of optimistic instances.

“Our goal just isn’t to get right into a scenario like Italy, the place the federal government has been lowered to expressing helplessness. In subsequent 20 days, now we have to keep away from moving into such a scenario. I visited Chinnaswamy and Kanteerava stadiums and we’re working out if the stadiums will be transformed into quarantine centres, if warranted,” Dr Sudhakar stated.

The state police are struggling to implement the lockdown due to non-cooperation from some folks. They plan to rope in celebrities to ship throughout the message on social distancing.

Whereas some with home-quarantine seals are discovered roaming within the streets, some nonetheless assume the lockdown is a vacation.

“We’re roping in film stars in addition to sports activities personalities to give out a critical message on COVID-19. If the message goes dwelling, it could assist us management folks to a big extent,” he added.

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News Network
March 9,2020

Kalaburagi, Mar 9: As the International Women's Day was celebrated all across the globe, the Department of Post inaugurated the first-ever all-women-employees operating post office here in Kalaburagi.

"Today, we have declared the Jagat Post Office under the Kalaburagi district as women's post office. From today onwards, women staff is going to work here exclusively," CG Kamble, Assistant Superintendent, Post Office, told media.

One of the employees of the post office inaugurated on Monday said: "We are happy that we can work freely as all the employees here are women. Similarly, the government must also take steps to identify one of the offices in the state as only women employees' office."

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