Jet Airways revival will be a challenge for new owners
Shares of the defunct airline are up 15.6 per cent in 3 trading sessions as against a 1 per cent gain in the frontline S&P BSE Sensex.
NCLT rejects demand for historicity of slots
Jet suspended operation in April 2019 & its permit is not valid
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Hope Jet Airways will fly again by year-end: Resolution professional, says Chhawchharia
The National Company Law Tribunal will pass its order on the Kalrock-Jalan consortium's plan for revival of Jet Airways today
The airline suspended operations in April 2019 and is under insolvency for nearly two years
Top headlines at this hour: Companies raise prices as input costs rise; Jet Airways new owners hear good news from airports.
Consortium's plan hinges on historic rights over peak hour slots
On Friday, the 30-share BSE Sensex closed marginally higher.
Institutional investors lead rejection brigade as Naresh Goyal abstains; proposal to appoint Sharp and Tannan as statutory auditors approved
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The airline has dues of around Rs 8,500 crore.
Compared with other major countries during Covid-19, domestic airlines have precariously stayed the course
The annual general meeting of Jet Airways scheduled to be held on Tuesday was adjourned due to lack of quorum, according to a regulatory filing. The company would intimate the further notice of the adjourned meeting separately, it added. Jet Airways suspended operations in April 2019 and is currently undergoing an insolvency resolution process. The affairs of the full service carrier are being managed by resolution professional Ashish Chhawchharia. "... we hereby inform you that the meeting to be held on Tuesday, 08 June 2021 at 12:00 Noon (IST) through two-way Video Conferencing ('VC') facility or Other Audio-Visual Means ('OAVM') was adjourned due to want of the quorum," the filing said on Tuesday. As per a filing in May, the meeting on Tuesday was to consider and adopt the company's audited standalone financial statements for the financial year ended March 31, 2020 together with the reports of auditors. Besides, the appointment of statutory auditor was to be discussed. The com
The Kalrock - Jalan consortium, who are successful resolution applicants of Jet Airways, said they were under the impression that slots and traffic rights held by Jet will revert to it
The firm suspended operations more than two years ago
The civil aviation ministry, regulator DGCA and winning bidder Jalan-Kalrock consortium on Monday informed the NCLT that the issue of allotment of slots to the airline is expected to be resolved soon.
The consortium has made this request in its affidavit before the National Law Company Tribunal