|Bid||161.80 x 0|
|Ask||161.80 x 0|
|Day's Range||157.50 - 168.10|
|52 Week Range||126.65 - 651.40|
|Beta (3Y Monthly)||2.23|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||537.86|
MUMBAI/NEW DELHI, April 18 (Reuters) - Jet Airways Ltd shares plunged on Thursday, battered by fears about whether the grounded Indian airline would fly again, even as carriers like rival SpiceJet rushed in to plug a supply gap in the wake of their rival's demise. Once India's largest private airline, Jet halted all flight operations indefinitely on Wednesday evening after lenders led by State Bank of India declined to extend more funds to keep the carrier going.
Bhoja Poojari has handled baggage for India's Jet Airways Ltd since it began flying nearly 26 years ago. Now, like many other Jet employees, he fears for the future as the debt-laden airline descends into crisis. Thousands of employees have been stung by the rapid unravelling of Jet Airways, which, saddled with more than $1.2 billion in bank debt, grounded all its planes on Wednesday after lenders rejected a plea for emergency funds.
SpiceJet Ltd Chairman Ajay Singh said on Thursday the budget airline was taking "all possible proactive measures" to deal with capacity reduction in the aviation industry, a day after rival Jet Airways Ltd was forced to ground all flights as it ran out of funds. Shares of the company jumped as much as 15 percent on news that Jet Airways had suspended its operations. Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected a plea for emergency funds, potentially bringing the curtains down on what was once India's largest private airline.
MUMBAI/NEW DELHI, April 17 (Reuters) - Embattled Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected its plea for emergency funds, potentially bringing the curtains down on what was once India's largest private airline. "The airline has been left with no other choice today but to go ahead with a temporary suspension of flight operations," the company said in a two-page statement late on Wednesday.
Shares in Jet Airways fell steeply on Tuesday after local media reported that the embattled Indian carrier’s management had proposed a complete suspension of operations. Jet declined to comment on the move. Jet has struggled to stay afloat because of a liquidity crunch that has left it unable to pay salaries and make loan payments to lessors and creditors. After talks with Abu Dhabi’s Etihad Airways, which bought a 24 per cent stake in Jet in 2013, broke down, founder and chairman Naresh Goyal stepped down and quit the board on March 25.
on Thursday when it cancelled its international flights. Given the significantly reduced flight schedule, the pilots strike may not affect operations, but aviation experts say it reflects the deteriorating outlook for Jet, which desperately needs a cash lifeline.
The truth is that if you invest for long enough, you're going to end up with some losing stocks. But long term Jet Airways (India) Limited (NSE:JETAIRWAYS) shareholders have had a particularly rough ride in the last three year...
Avolon, one of the world's biggest aircraft lessors, applied to de-register two planes it had placed with Jet Airways Ltd, making it the first lessor to do so on a non-consensual basis with the struggling Indian airline. Two subsidiaries of Dublin-based Avolon applied to India's Directorate General of Civil Aviation (DGCA) to de-register two Boeing 737-800s, according to notices published on the regulator's website. Avolon has terminated the leases on the planes and currently has five more aircraft placed with Jet, said sources who declined to be identified due to the sensitivity of the matter.
NEW DELHI/MUMBAI, March 26 (Reuters) - Jet Airways Chairman Naresh Goyal will step down from the board of the Indian carrier he founded 25 years ago and its lenders will seize control, the company said, as part of a deal led by state-run banks to save the airline from bankruptcy. Saddled with debt of more than $1 billion, Jet has been on the brink of collapse, and had to ground more than two-thirds of its fleet as it struggled pay lenders, suppliers, pilots and leasing companies.
India's civil aviation minister has called for an emergency meeting about Jet Airways Ltd as the cash-strapped carrier struggles to make payments to its creditors and has been forced to cancel hundreds of flights. The minister, Suresh Prabhu, has asked the civil aviation secretary to call for a meeting to discuss grounding of flights, advance bookings, cancellations, refunds, and safety issues, if any, at Jet. Saddled with debt of more than one billion dollars, Jet is struggling to stay afloat.
SINGAPORE/BENGALURU, Feb 21 (Reuters) - International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as scepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources familiar with the matter said. The troubles at India's Jet, which is saddled with a billion dollars in debt, have rekindled memories of Kingfisher Airlines' collapse in 2012 that forced lessors to write off millions of dollars. Jet has defaulted on loans and has not paid pilots, leasing firms and suppliers for months.
India's airlines are poised to cut their cumulative losses by as much as two-thirds in the financial year starting in April, aviation consultancy CAPA India said on Tuesday, with airline executives saying ticket prices are finally rising. The latter figure is an improvement to CAPA India's last forecast for losses of up to $1.9 billion issued in September when oil prices were higher. "The opportunity exists to create a sustainable, profitable future within 1-2 years," CAPA India CEO Kapil Kaul said as the forecast was released at its annual conference in New Delhi.
India's airlines are poised to cut their cumulative losses by as much as two-thirds in the financial year starting in April due to a more stable oil price, with low-cost carriers returning to profitability, aviation consultancy CAPA India said on Tuesday. The latter figure is an improvement to CAPA India's last forecast for losses of up to $1.9 billion issued in September when oil prices were higher. "The opportunity exists to create a sustainable, profitable future within 1-2 years," CAPA India CEO Kapil Kaul said as the forecast was released at its annual conference in New Delhi.
India's Jet Airways Ltd has grounded four aircraft after failing to make payments to lessors, in a sign that leasing firms are losing patience with the heavily indebted carrier. The airline, India's second-largest by market share, did not name the leasing firms involved, nor clarify whether the groundings were voluntary or forced.
(Adds HNA group) Feb 1 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Friday: ** China's HNA Group sold its last land parcel in Hong Kong to local developer ...
Indian carrier Jet Airways Ltd on Thursday denied media reports claiming GE Capital Aviation Services had asked the airline to ground its aircraft. The reports claimed that GECAS had asked the debt-laden ...
Qatar Airways will not buy a stake in Jet Airways as a substantial portion of the debt-laden Indian carrier is held by Etihad Airways, whose owner Abu Dhabi is an "enemy" of Qatar, its CEO Akbar al-Baker said on Tuesday. Abu Dhabi is part of the United Arab Emirates that cut ties with Qatar in 2017 over accusations of supporting terrorism.
Jet Airways Ltd's 69-year-old founder Naresh Goyal, who started out as an assistant in a travel agency, wove together charm, persistence and consummate dealmaking to build India's biggest full-service carrier. Now, his penchant for control has emerged as a major obstacle as the indebted airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years told Reuters on condition of anonymity. "He was a visionary in his day but those days are behind us," said a senior aircraft financier who has done deals with Goyal.