jet airways

Loss-making Jet Airways is likely to receive fund infusion worth over Rs 3,000 crore post debt-rejig and investments by Etihad Airways as well as National Investment and Infrastructure Fund.

Jet Airways on Thursday reported a standalone net loss of Rs 587.77 crore for the third quarter ended December 31, owing to higher fuel cost and rupee fall.

Lenders to cash-strapped Jet Airways (India) are set to take control of the company under a proposed resolution plan that will see conversion of debt into equity at a token value of Re 1.

After the withdrawal of flights to Guwahati and Delhi from here by Jet Airways, Mizoram now has direct air link with Kolkata only, officials said Sunday.

Jet Airways, which is grappling with acute financial problems, Friday said its board will meet on February 14.

Cash-starved Jet Airways has mopped up Rs 250 crore from advance sale of tickets to its customer loyalty programme Jet Privilege, less than five months after raising money through the same route.

Crisis-hit Jet Airways on Thursday said four of its aircraft have been grounded due to non-payment of lease rentals. Faced with acute financial problems, the airline is looking to restructure debt and raise fresh funds.

Jet Airways CEO Vinay Dube told its employees on Thursday that the situation of the crisis-ridden airline might get tougher and asked them to be patient.

Jet Airways is actively engaged with all its aircraft lessors and are being updated about efforts to improve liquidity, the airline said on Wednesday amid flight cancellations due to grounding of aircraft.

Crisis-ridden Jet Airways has decided to cancel 15 flights on Wednesday following grounding of six Boeing 737 planes due to non-payment of lease rentals, according to sources.