Page 4 - Jet Airways

ED files fresh case against former Jet Airways promoter Naresh Goyal

The Enforcement Directorate has conducted eight searches so far in locations linked to Naresh Goyal after filing a fresh case where Canara Bank is the complainant

CBI books EPFO official, 13 ex-employees of Jet Airways in PF fraud case

The CBI bas booked a Mumbai-based officer of EPFO and 13 former employees of grounded airline Jet Airways who had paid bribes to him to settle their provident fund claims, officials said Thursday. The case was handed over to the CBI after a probe by the Employees Provident Fund Organisation (EPFO) vigilance found alleged fraudulent activities of Machindra Jagannath Bamne, senior social security assistant posted at accounts section of its regional office in Kandivali(E). It emerged that Bamne received illegal gratification in his as well as his wife's bank accounts through multiple mode of online banking from employees of various establishments in lieu of their claim settlement. It is alleged that Rs 1.77 lakh were credited in his and his wife's accounts by 13 employees of Jet Airways which has stopped operations. "This aspect has been confirmed in the investigation by cross verifying the online credit entries in the accounts of the official and his wife with the corresponding debit

Jalan-Kalrock's plan for Jet Airways unworkable, lenders tell Supreme Court

The lenders have filed a challenge to the NCLAT order of May 26 which granted the Jalan-Kalrock consortium three-and-a-half months more to make payments

Start winding-up process for Jet Airways: Lenders tell Supreme Court

The court has scheduled the next hearing in two weeks and has called for a response from the consortium

Jet Airways revival: Consortium gets 107-day extension to pay dues to SBI

National Company Law Appellate Tribunal passes order based on consortium's application

Jet Airways revival: NCLAT to rule on consortium plea against SBI on May 30

Lender says Jalan-Kalrock has not paid dues that had a deadline of May 15

Uncertainty remains over revival of Jet Airways as certificate expires

Uncertainty continues over the revival of grounded Jet Airways as the validity of the airline's air operator's certificate expires on Friday. There was no word from the Jalan Kalrock Consortium (JKC), which emerged as the winning bidder for the carrier under the insolvency resolution proceedings, on the status of the airline's flying permit. The Air Operator's Certificate (AOC) of the airline, which has not flown since April 18, 2019, was revalidated on May 20 last year for a one-year period and the validity ended on Friday. However, it could not be immediately ascertained whether the consortium has sought any relaxation from aviation regulator DGCA with respect to the AOC, which is the most crucial requirement for operating an airline. A query sent to Ankit Jalan, a board member of the JKC, on whether the consortium has sought renewal of the AOC remained unanswered. The ownership transfer of Jet Airways to the JKC is yet to happen amid continuing differences with the lenders of t

Jet Airways net loss after tax narrows to Rs 54.94 crore in March-quarter

The company's consolidated net revenue from operation rose by 12.45 per cent to Rs 12.37 crore for the March quarter as compared to Rs 11 crore in the year-ago period

ITC, SBI, and others: These companies will declare their Q4 results today

Q4 results today: The list of companies that will declare their financial results has names like IndiGo, Jet Airways, Tata Elxsi, and GAIL

Ex-Jet Airways executive Sanjiv Kapoor joins airline service Saudia Group

Aviation industry veteran Sanjiv Kapoor, who stepped down as the CEO-Designate of Jet Airways last month, has joined Saudia Group. Formerly known as Saudi Arabian Airlines, Saudia is the national carrier of Saudi Arabia. "I am thrilled to share that I have joined the Saudia Group as Advisor to His Excellency Ibrahim Al-Omar, Director General of the Group," he said in a tweet on Wednesday. Kapoor was associated with a number of airlines, including SpiceJet, Vistara and Go First, in various capacities. He was the CEO-Designate of the grounded Jet Airways, for which the Jalan Kalrock Consortium has emerged as the winning bidder under the insolvency resolution process. In a Linkedin post, Kapoor said that aviation will play a key role in the Saudia Arabia's Vision 2030, which aims to attract 100 million visitors to the leading Gulf nation. "One of the three pillars of Saudia Arabia's Vision 2030 is the transformation of its advantaged strategic location into a global hub connecting t

Bank fraud case: CBI searches at Jet office, Naresh Goyal's residence

The CBI on Friday conducted searches at seven locations including the premises of Jet Airways and its founder Naresh Goyal in Mumbai in connection with an alleged Rs 538-crore fraud case in Canara Bank, officials said. The CBI searches were spread across residences and offices of Goyal, his wife Anita, and former airline director Gaurang Ananda Shetty. The agency has registered a new case of alleged bank fraud of Rs 538 crore on a complaint from Canara Bank, they said. The allegations pertain to alleged diversion of funds among other irregularities, they said. The company was in the process of revival after Jalan Kalrock Consortium won the bid for Jet Airways under the insolvency resolution process at National Company Law Tribunal (NCLT).

Jalan-Kalrock Consortium has missed flight to relaunch Jet Airways: Experts

Changed conditions and consolidation in domestic market have made airline's revival a tougher challenge, they say

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Blow to revival plan: Sanjiv Kapoor, CEO-designate of Jet Airways, quits

Jet's air operator certificate was revalidated last May and will lapse on May 19 if it doesn't secure an extension

Revival plan hits a hurdle: Jet Airways CEO-designate Sanjiv Kapoor quits

He had joined the airline as the Chief Executive Officer in April last year. The source said that Friday was the last working day for Kapoor at the airline

Jet Airways revival hits new snag as more employees quit amid uncertainty

In the past week, senior employees, including the company secretary, accountable manager and chief security officer, have quit Jet Airways

Kalrock-Jalan consortium opposes sale of three Jet Airways planes

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

Jet Airways' fate in jeopardy as NCLT deadline for Jalan-Kalrock nears

The expiry of the airline's air operator's permit (AOP) is also due on May 19

Amid record aircraft orders, aviation remains a long-term play: Analysts

A linear profit growth is unlikely for the Indian aviation players as high oil prices hit the industry every two-three years

Bombay HC quashes money laundering case against Jet Airways founder, wife

In a huge relief for former Jet Airways Chairman Naresh Goyal and his wife Anita Goyal, the Bombay High Court on Thursday quashed the Enforcement Directorate (ED)'s case