Page 42 - Jet Airways

Jet Airways seeks loan moratorium, fresh funds in struggle for survival

The carrier was one of the first to take off in the early 1990s after India opened up aviation to non-state carriers

Airline consolidation may not ease pricing pressures; Jet stock falls

Higher capacity addition would leave little room for rate rationalisation

Jet, SpiceJet seek lease rent moratorium amid weak rupee, high oil prices

To avoid a default on loan payments, Jet Airways and SpiceJet have sought a moratorium on lease rent payment.A weakened rupee, surge in crude oil prices and inability to raise fares have put pressure on all airlines, tightening their liquidity situation. In this backdrop, rating agencies have downgraded the debt of all three listed airlines, including that of IndiGo, the market leader. CRISIL has downgraded the rating of SpiceJet's Rs 14.45-billion debt, from the earlier BBB to one of BB-minus. ICRA has downgraded the rating for IndiGo's Rs 80-bn loan to A+ from the earlier AA. A SpiceJet spokesperson said the airline had secured a one-time relief of two to three months from a lessor. "The rating downgrade is an industry phenomenon and we continue to outperform the industry on financial metrics," the spokesperson added. Jet Airways did not respond to a query but sources said it had sought discounts and easier payment terms, including 60-90 days of moratorium on its lease ...

Jet Airways' plan to lease regional jets to TruJet hits regulatory hurdle

TruJet, which operates its services on regional and Udan routes from Hyderabad to various destinations, has an all-ATR fleet

Jet Airways curtails flights to save cash, 20-30 cancellations daily

Aviation analysts point out to the grounding of planes and poor seat loads as probable reasons for cancellations

Tatas eye stake in Jet Airways: Here's why the deal may not fructify

Tata Group is reportedly looking for a significant stake in Jet Airways

Tata Group in talks to buy majority stake in debt-laden Jet Airways: Report

Jet Airways said the report on Tata Group being in talks with the company for buying a stake is totally speculative

Jet Airways offers up to 50 days of leave without pay to flight attendants

The airline has informed its flight attendants that they would be eligible for leave without pay between November 1 and December 20

Jet Airways loyalty programme stake sale faces headwinds, challenges

Equity infusion hinges airline's financial health, control. Analysts say overhaul needed for survival

Jet Airways delays Sept salaries of pilots, engineers, senior management

No date was specified for the disbursal of salaries for September

Jet Airways clears August salary dues of senior employees, pilots

Notably, the airline management had on October 5 assured its domestic pilots body, NAG, of disbursing the remaining amount of August salary by Tuesday

Jet Airways assures payment of August salary dues to its pilots by Oct 9

The August salary was to be paid in two instalments - half by September 11 and the other half by September 26

Jet Airways sells loyalty miles in advance to raise Rs 2.5 billion

Accrual and redemption of miles is a transaction between two companies

Icra downgrades Jet Airways' Rs 70-bn debt third time in five months

Due to delay in implementing liquidity enhancement measures, rise in crude price, rupee depreciation, inability to pass on costs

Jet Airways receives Rs 2.58 bn from Jet Privilege for advance ticket sale

Jet Privilege, which has got millions of members, is majority owned by its equity partner Etihad Airways, which also owns 24 per cent in the carrier

NAG pilots to meet Jet Airways' management to discuss salary payment issue

The meeting comes ahead of the payment of the balance amount of the second instalment of August salaries of the senior management, pilots and engineers on October 9

359 stocks down over 50% from their 52-week highs

Jet Airways, PNB, Infibeam Avenues, PC Jeweller, Manpasand Beverages, Kitex Garments, Vodafone Idea, BEML, Indiabulls Real Estate, Avanti Feeds and Aptech were down more than 60% from 52-week highs.

Cash-strapped Jet Airways defaults on salaries again, more employees hit

Jet Airways is struggling to mop up funds to meet its payment obligations, including salaries to its over 16,000-strong workforce

Pay cuts to deferred financial results, brand Jet has flown into turbulence

In the midst of its worst crisis ever, can the 25-year-old airline steer out of the clouds?

Jet Airways defers 25% of August salaries for pilots, engineers to October

Pilots make up little more than 10 per cent of airline's 16,000 employee force but account for about half of its salary bill