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
August 8,2020

Bengaluru, Aug 8: Congress is confused on the Ram Mandir issue and in dilemma to take a firm stand fearing loss of Muslim or Hindu votes, according to BJP leader and Union Parliamentary Affairs Minister Pralhad Joshi.

"Congress opposed BJP's stand on constructing Ram Mandir in Ayodya, it called Lord Ram fictional and even decided to break the Ramsetu. Now, Congressmen are speaking the other way. Congress cannot think beyond vote bank politics which is in its DNA itself. Congressmen think that they are born to be in power," he said while speaking to media persons. 

He said that BJP is all for constructing a grand Ram Mandir peacefully and legally, due to its conviction and not for politics. Same was the case with the revocation of Article 370 for Jammu & Kashmir. Anti-national activities have comparatively come down now. 

Some people do not want everything going smoothly in the country, and Congress and Asaduddin Owaisi are among them, Joshi opined, adding that the Congress is merely frustrated.

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coastaldigest.com news network
July 24,2020

Mangaluru, July 24: Karnataka's Dakshina Kannada district reported 8 new Covid-19 deaths in the last two days taking the toll to over 100. The district has recorded 107 Covid-19 deaths till now.

Deputy Commissioner Sindhu B Rupesh on Friday said a 44-year-old man from Mangaluru with the symptoms of respiratory failure, ARDS, AKI MODS hypertension, was admitted to a private hospital on July 19 and died on July 22. His throat swab tested positive for Covid-19 on Friday.

Another 56-year-old man from Mangaluru, who died on July 23, was suffering from urinary tract infection, MODS-septic shock, type II diabetes mellitus, hypothyroidism, systematic hypertension and IHD and had tested positive for Covid-19.

Mangaluru saw two more deaths -- a 75-year-old woman suffering from COPD with type 2 respiratory failure and multi-organ dysfunction syndrome with septic shock and a 65-year-old woman, who was suffering from BP and diabetes and admitted to a private hospital on July 13 and died on July 23.

A 61-year-old woman from Puttur, who was suffering from diabetes mellitus and hypertension and was undergoing treatment at a private hospital, died on July 23.

A 67-year-old man from Bhadravathi in Shivamogga, who was admitted to Wenlock Hospital on July 13 and was suffering from pneumonia and respiratory infection, died on July 23. He too tested positive for Covid-19.

Some of the other deaths were those of -- a 42-year-old man from Bantwal suffering from type 1 respiratory failure, urosepsis and uncontrolled type 2 diabetes and a 67-year-old man from Bhadravathi suffering from acute myocardial infarction, uncontrolled type 2 diabetes and systematic hypertension, Both died at private hospitals on July 23.

180 fresh cases

The Covid-19 graph slightly moved downward with the recording of 180 fresh cases, including four police personnel from Puttur police station. Of the positive cases, 56 are the primary contacts of the infected persons, 68 are suffering from Influenza-Like Illness (ILI) and 10 with the symptoms of Severe Acute Respiratory Infection (SARI).

The contacts of 45 persons who tested positive are being traced. One person with international travel history has also tested positive.

A total of 125 persons recovered and were discharged from hospitals, thus taking the tally of the total discharges to 1987.

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News Network
January 13,2020

Mangaluru, Jan 13: A truck parked at the site of protest against the new citizenship law and National Register of Citizens (NRC) at Deralakatte on the outskirts of the city was charred down to ashes after it was set on fire by miscreants, police said here on Monday.

Police said that Deralakatte Citizenship Protection Committee had organised a protest rally against the Citizenship Amendment Act (CAA) here on Sunday. After the rally concluded, a few unidentified miscreants set the vehicle on fire.

The incident resulted in chaos, causing panic among the locals who informed the police immediately.

Condemning the incident, the local unit of Popular Front of India has claimed that the incident was an attempt by saffronist goons to disrupt peace and trigger communal riot in the region. It has urged the police to nab the accused immediately without yielding to any political pressure.

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