Aviation Jet Airways

The lenders said 13 crore out of the 200 crore payment towards the total amount came 'from other sources'

The insolvency appellate tribunal NCLAT on Thursday adjourned its hearing on Jet Airways matter to November 1, as the creditors sought more time to file a reply over the compliance affidavit filed by the Jalan-Kalrock Consortium -- the successful bidder of the grounded carrier. Counsel appearing for the creditors sought more time to complete their pleadings during the proceedings of the National Company Law Appellate Tribunal (INCLAT), which was accepted by a three-member bench. The creditors, which suspect the source of Rs 200 crore paid by the Jalan-Kalrock Consortium, have to file a reply over the compliance affidavit filed by the successful bidder. Last week, Additional Solicitor General N Venkataraman, representing lenders including SBI and other banks, told NCLAT that there are apprehensions about the source of funds, which deposited the money for Jalan-Kalrock Consortium's (JKC). "The payment is not compliant with the resolution plan as it mandates that the money is to be pa

The date for the payment was earlier set for 31 August, but JKC had sought an extension

European cargo airline Ace Aviation has emerged as the successful bidder for the planes

This news comes after Jet Airways's revival plan hit another roadblock on November 18, after the new owner Jalan-Kalrock told the NCLAT of its inability to pay additional money

Jet Airways aims to restart operations in September after takeover by the Kalrock Jalan consortium

As efforts are on to restart services of Jet Airways, Orion IT Parks Pvt Ltd -- whose shareholders are Murari Jalan and Ankit Jalan -- will extend an Inter-Corporate Deposit (ICD) of Rs 50 crore

The plan submitted by Kalrock consortium won by an overwhelming majority, say sources

The full service carrier, which shuttered operations in April last year, had a loss of Rs 766.13 crore. These figures are for standalone comprehensive losses

With no new bidders emerging during this period, there are only three entities that had put in their initial bids earlier

It's lamentable that after 14 years as a publicly traded firm, operating in a capital-intensive, competitive, regulated industry, Jet was still allowed to carry on basically as Goyal's fief

While the cash-strapped carrier awaits potential investors to pump in money, rivals are aggressively going after its most prized assets

Business Standard examines passenger options regarding alternate flights, loyalty miles and refunds

If we want to avoid a return to public sector transport monopolies, we must decide on the size of the oligopolies in the sector

SpiceJet and Interglobe Aviation (IndiGo's parent company) have outperformed the benchmark index thus far in tcalendar year 2019 (CY19) with a gain of nearly 36 per cent and 49 per cent respectively.

The full service carrier, which is currently operating less than 10 aircraft, is awaiting fresh fund infusion under a debt resolution plan

SBI Capital Markets would be assisting and advising the lenders on the bid process

Earlier, the airline had been delaying the salaries of its pilots, engineers and senior staff since August who have not been paid since January

In the last few weeks, the airline has been grounding its aircraft in tranches due to non-payment of dues to lessors

Earlier in the day, a source said that around 200 pilots had written individually to Jet CEO Vinay Dube, threatening to go on "leave of absence"