|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||31.65 - 61.60|
|52 Week Range||31.65 - 393.50|
|Beta (3Y Monthly)||2.30|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||537.86|
The lenders of Jet Airways decided on Monday to start bankruptcy proceedings, ending a desperate hunt to find a white knight investor to bail it out and finally marking the end of India’s oldest private airline. Jet Airways, which began flying over two decades ago, was forced to stop flights two months ago on April 17 after running out of cash to pay its lessors and staff. “After due deliberations, lenders have decided to seek resolution under IBC [Insolvency and Bankruptcy Code],” said the lenders, a consortium of state banks, in a statement on Monday.
Indian budget airline SpiceJet Ltd is examining the prospect of taking over widebody jets previously operated by Jet Airways Ltd, but initial studies show they need significant maintenance work, its chairman said on Saturday. SpiceJet, which operates narrowbody and turboprop planes, does not have firm plans to become a widebody operator with longer-range flights in the wake of Jet's collapse in April, SpiceJet Chairman Ajay Singh said.
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times The Organisation for Economic Co-operation ...
The Indian government sees little hope of a bidder emerging for debt-laden Jet Airways Ltd , which halted operations last month, two senior finance ministry officials said. Parties that had initially expressed interest in Jet, which is saddled with roughly $1.2 billion of debt, have so far failed to come forward with firm bids to bail it out, increasing odds that it could soon face bankruptcy proceedings. The second official said it was only a matter of time before someone dragged the carrier to the National Company Law Tribunal - India's bankruptcy court - for recovery of dues.
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.
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.