India’s largest airline by market share IndiGo is headed for the National Company Law Tribunal (NCLT) for resolving deep fissures that have surfaced between major shareholders Rahul Bhatia and Rakesh Gangwal who...
Jet’s lenders to get bids verified, open to joint bid
Mumbai-Grounded Jet Airways NSE -0.75 %’ lenders plan to get all bids legally verified before beginning negotiations with interested parties. According to informed sources, lenders have a limited number of options...
Will seriously consider any partnership proposal from Indian carriers: Qatar Airways
Qatar Airways, which has sought additional seat capacity on temporary basis for its flights from Indian cities to Doha, Thursday said it will “seriously” consider any proposal for partnership from Indian...
Hinduja group keen on Jet Airways takeover; seeks Naresh Goyal’s consent
The Hinduja group would be keen to take over Jet Airways, provided lenders agree to take a substantial haircut on their dues and founder Naresh Goyal gives his consent to the takeover. A top official of the group said...
Mumbai firm Darwin Group submits bid to invest in grounded Jet Airways
Ajay Harinath Singh, a Mumbai-based resident who claims to run diverse businesses across 11 countries, has submitted an offer to invest in Jet Airways. Singh’s Darwin Platform Group (DPG) is the third unsolicited bidder...
Govt committed to strategic disinvestment of Air India: Jayant Sinha
The government is committed to strategic disinvestment of national carrier Air India, Minister of State for Civil Aviation Jayant Sinha said on Tuesday. Speaking at a session hosted by the Indian Chamber of Commerce...
Jet Airways lenders and Etihad keen to issue boarding pass to Hindujas
Lenders to Jet AirwaysNSE -5.20 % and its second-largest shareholder Etihad Airways have approached the Hinduja Group offering a stake in the grounded airline, said people close to the development, adding that...
Billionaire Schwartz makes $2.6 billion bet on Canada’s WestJet Airlines
Billionaire Gerry Schwartz pounced on Canada’s WestJet Airlines on Monday as his private equity firm Onex Corp offered to buy the struggling airline for C$3.5 billion ($2.6 billion), betting it can turn around its...
Government plans to raise Rs 10,000 crore from sale of Air India units & assets
The government plans to raise up to Rs 10,000 crore by selling the subsidiaries of Air India and other assets to repay a part of the national carrier’s debt of Rs 29,000 crore that the government has taken over from the...
GVK should prove ability to buy stake, Bidvest tells court
South Africa’s Bidvest Group has asked the Delhi High Court to direct GVK Airport Holdings to prove that it has the Rs 1,250 crore needed to acquire the stake held by the overseas investor in Mumbai International...
Etihad says it can only invest Rs 1,700 crore in Jet Airways
Etihad Airways has said it can only invest up to Rs 1,700 crore in Jet AirwaysNSE -4.84 %, a fraction of what the grounded airline needs for survival. The Abu Dhabi carrier is also noncommittal on Jet’s dues and has...
NCLAT dismisses insolvency plea against SpiceJet
The National Company Law Appellate Tribunal ( NCLAT) has dismissed a plea for initiation of insolvency proceedings against Spicejet by Ramco SystemsNSE 1.53 % Ltd, an operational creditor of the low-cost carrier. A two...
