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
January 26,2020

Mangaluru, Jan 26: Minister for Muzrai, Inland Water Transport, Port and Fisheries Kota Srinivas Poojary in his Republic Day address praised the Dakshina Kannada district and Mangaluru city units of Karnataka police.

Poojary, also district in-charge minister, was speaking after unfurling the National flag as a part of 71st Republic Day celebrations held at Nehru Maidan in the city on Sunday.

He said that the police department had been successful in tackling the challenges posed by anti-social elements to the law and order situation from time to time.

He also lauded the police department for effectively handling the recent bomb threat incident at Mangalore International Airport.

He said, the state government is committed to protect the welfare of the oppressed and backward classes, minority, women, farmers, differently abled and the elderly.

“People from all these sections are guaranteed government benefits in one way or the other,’’ the minister said and called upon the people to strive towards social harmony and to help the departments concerned in keeping anti-social elements away.

The state government will release its share of Rs 4,000 to the farmers under Pradhan Mantri Kisan Samman Yojana, to which Central government has credited Rs 6,000 per eligible farmer. As many as 1,33,247 farmers are benefited by the scheme in the district, the minister said.

Stating that the coastal region of Karnataka has been placed in the ninth position in the country in fisheries, Poojary said that the coastal line of Karnataka, comprising backwaters and inland water, houses immense resource for fishes.

“Thrust will be laid on boat tourism and development of ports in the coastal districts,’’ he said.

The minister, meanwhile, said that the state government had implemented various programmes for the development of fishermen community.

“Loans to the tune of Rs 60.54 crore availed by 23,000 women belonging to fishing community will be waived. Diesel subsidies amounting to Rs 28.09 crore has been transferred to the bank accounts of owners of 954 mechanized boats during the year 2019-20. As many as 2,500 houses have been sanctioned under Matsyashraya scheme,’’ Poojary said.

Dakshina Kannada district has incurred a loss of Rs 893 crore during the recent floods. Financial assistance has been extended to 1,914 families affected by the floods to buy essential commodities, he said.

Services recognised

The minister thanked the Central government for announcing Padma Vibhushan awards to late Vishwesha Theertha Swami and George Fernandez and Padma Shri award to Harekala Hajabba.

‘’The selfless services to the nation by these stalwarts have been recognised,’’ he said. Educationist Harekala Hajabba was felicitated on the occasion.

Zilla Panchayat President Meenakshi Shanthigodu, MLAs D Vedavyas Kamath, Dr Y Bharat Shetty and U T Khader, MLCs Ivan D’Souza and S L Bhoje Gowda were present. Various troupes conducted march past on the occasion. Schoolchildren took part in cultural programmes.

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News Network
February 6,2020

Bengaluru, Feb 6: A 33 -year-old techie who was on the run after allegedly bludgeoning her mother to death and attempting to murder her brother at their house near KR Puram early on Sunday was arrested along with her friend from a hotel in Port Blair, Andaman and Nicobar Islands, on Wednesday morning.

C Amruta and Sridhar Rao were produced before a court in Port Blair to get a transit warrant, deputy commissioner of police (Whitefield) MN Anuchet said. Police initially thought she had committed the crime as she was unable to repay a loan of Rs 15 lakh and feared being humiliated by the lenders.

"But now we strongly suspect that Amruta and Rao were in a relationship, which was opposed by her mother and brother. We don't see any other reason for her to attack her family members. We can get more details only after questioning the duo," another police officer said, adding, "The most important question is: Did Rao know Amruta was going to kill her mother? Or he got to know about it only later? He'd booked their air tickets to Port Blair on January 31 itself."

Rao and Amruta worked together in a software company in Whitefield till 2017. "Then they joined different firms and were in constant touch," police said.

Preliminary probe revealed the duo flew to Port Blair by catching a flight from Kempegowda International Airport (KIA) at 6.30am on Sunday. CCTV footage had shown Rao - wearing a full-face helmet and carrying a backpack - waiting near Amruta's house on a gearless scooter on Sunday morning. After she arrived, they chatted for a while before riding away. They arrived at KIA on the same bike, police said.

"We checked the passengers' list at KIA for that day and found Amruta's name. With the help of Port Blair police, we traced the duo to a hotel," an investigating officer said.

On Sunday morning, Amruta hit her 54-year-old mother C Nirmala on the head with a digging bar. She later stabbed her younger brother C Harish in the neck. Harish collapsed and thinking that he was dead, she left the house.

In his statement to police, Harish stated, "Around 4.30am, Amruta entered my room and stabbed me. I asked her what was wrong. She said she had a debt of Rs 15 lakh and didn't want the debtors to harass me and our mother."

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