Jet Airways Cancels All Overseas Flights Till This Morning: 10 Points
- Civil Aviation Secretary Pradeep Singh Kharola told news agency ANI, "It (Jet Airways) is currently operating less than 15 planes and its eligibility to fly on international routes needs to be examined."
- As per rules, an airline needs to have minimum of 20 aircraft to be eligible to operate international flights.
- Till recently, the airline operated 26 aircraft, including Airbus A330s, Boeing 777s, 737-800 and ATRs, to various destinations like London, Toronto, Singapore, Amsterdam, Paris, Bangkok and domestic sectors like Mumbai-Delhi, among others.
- Jet Airways is in the midst of a severe liquidity crisis that has affected its operations and resulted in the grounding of several of its aircraft.
- Aviation regulator DGCA on Wednesday announced it de-registered seven Boeing 737-800 aircraft of Jet Airways, allowing its lessors to take the planes out of the country so that it can be leased to any other airline, news agency Press Trust of India reported.
- Jet's lenders, led by State Bank of India (SBI), have been seeking a new investor to take a stake of up to 75 per cent in the airline. Initial bids were to be submitted by the end of Wednesday, but SBI has extended the deadline to April 12.
- Meanwhile, media reports suggested that its former promoter Naresh Goyal is said to be planning to bid for the airline from which he had to step down as chairman last month.
- On Wednesday, Indian Oil Corp, for the second time, halted supply of fuel to Jet Airways for a few hours over non-payment of dues.
- The National Aviator's Guild has also served a legal notice to the management of the airline over delays in the payment of salary.
- Jet Airways shares closed 1.14 per cent lower at Rs 260.40 on the BSE.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
