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Jet Airways News -- Part 15
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747-237
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PostPosted: Mon Mar 25, 2019 4:21 pm    Post subject: Reply with quote

https://www.deccanherald.com/business/business-news/jet-airways-founder-naresh-goyal-quits-as-chairman-724988.html

Jet Airways founder Naresh Goyal quits as chairman

MAR 25 2019

Jet Airways Chairman Naresh Goyal on Monday stepped down amid a debt crisis in India's second-biggest airline, which he nurtured for nearly 25 years.

His wife Anita Goyal too has quit the Board of Jet Airways. This would pave the way for investors including State Bank of India to rope in its own official to head the airlines. SBI has proposed a Rs 1,500 crore plan to take the airways of its current crisis by paying salaries to its employees and re-pay part of its debt to the lenders.

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PostPosted: Tue Mar 26, 2019 5:31 am    Post subject: Reply with quote

Jet Airways re-opens Hong Kong reservations for May 2019

Jet Airways on Sunday 24MAR19 re-opened reservation for service to Hong Kong.
From 01MAY19 to 31MAY19, the airline will continue to operate 1 daily flight each on Delhi – Hong Kong and Mumbai – Hong Kong route.
Reservations for travel on/after 01JUN19 is not available.

Delhi – Hong Kong
9W078 DEL0105 – 0855HKG 333 x1
9W078 DEL0105 – 0855HKG 77W 1

9W077 HKG1210 – 1545DEL 333 x1
9W077 HKG1210 – 1545DEL 77W 1

Mumbai – Hong Kong
9W076 BOM0110 – 0940HKG 77W D
9W075 HKG1945 – 2340BOM 77W D


Source: Airlineroute.net
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PostPosted: Tue Mar 26, 2019 7:25 pm    Post subject: Reply with quote

Another 737-800 , VT-JFA, has been returned to lessor.
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PostPosted: Wed Mar 27, 2019 10:36 am    Post subject: Reply with quote

https://timesofindia.indiatimes.com/business/india-business/jet-airways-hopes-to-get-40-grounded-planes-back-from-lessors-by-april-end/articleshow/68584215.cms

Jet Airways hopes to get 40 grounded planes back from lessors by April-end

Mar 26, 2019

Jet Airways is currently operating 35 aircraft and may take this number to 75 by April-end, if it is able to convince lessors who have grounded planes over dues to fly them again. The airline’s officials met top aviation officials on Tuesday to discuss a roadmap for the next couple of months. This comes a day after Naresh Goyal stepped down from Jet's board and lenders agreed to give emergency funding of Rs 1,500 crore.

“We are trying that in the approaching summer peak travel season the capacity crunch eases. We have observed fares on some sectors occasionally spiked up and have asked airlines not to do that. Jet officials said they will speak to lessors and hope to get 40 grounded planes back in operation by next month end. They will inform us by next week exactly how many planes lessors have allowed them to fly and by when,” aviation secretary Pradeep Singh Kharola said after meeting Jet officials along with DGCA chief B S Bhullar.

The capacity crunch has been caused largely due to Jet grounding its aircraft. The crunch later aggravated as SpiceJet grounded Boeing 737 Max and GoAir grounded A320 Neo. The situation got worse when other airlines like Air India and IndiGo also started cancelling flights. Kharola said the government is looking at giving the slots not being utilised by Jet in airports in India and abroad to other Indian carriers for a certain time.

Jet was operating 103 aircraft before its funding crisis got severe earlier this year. “If it is able to have 75 planes operational by next month, Jet will be operating almost 80% of its fleet. Since the planes have been grounded for some time, we will ensure their airworthiness and safety before they get back in action,” Kharola added.

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PostPosted: Wed Mar 27, 2019 11:06 am    Post subject: Reply with quote

Jet Airways reduces Mumbai – London service from late-March 2019

Jet Airways on Tuesday 26MAR19 filed additional inventory changes, which now sees Mumbai – London Heathrow service being reduced from 3 to 2 daily.
From 31MAR19 to 26OCT19, 9W116/115 service is closed for reservation for all class of service.

9W120 BOM0135 – 0645LHR 77W D
9W118 BOM1250 – 1755LHR 77W D

9W119 LHR0930 – 2325BOM 77W D
9W117 LHR2120 – 1100+1BOM 77W D


Source: Airlineroute.net
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PostPosted: Wed Mar 27, 2019 6:55 pm    Post subject: Reply with quote

747-237 wrote:
Jet Airways reduces Mumbai – London service from late-March 2019

Jet Airways on Tuesday 26MAR19 filed additional inventory changes, which now sees Mumbai – London Heathrow service being reduced from 3 to 2 daily.
From 31MAR19 to 26OCT19, 9W116/115 service is closed for reservation for all class of service.

9W120 BOM0135 – 0645LHR 77W D
9W118 BOM1250 – 1755LHR 77W D

9W119 LHR0930 – 2325BOM 77W D
9W117 LHR2120 – 1100+1BOM 77W D


Source: Airlineroute.net


Ugh my mom is booked on 9W 116 (the 9:55am flight) in July. This sucks
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PostPosted: Thu Mar 28, 2019 1:44 pm    Post subject: Reply with quote

An interesting article on 9W's history and how the blocks kept falling in place for NG

Jet Airways’ Lenders Leave Door Open For Naresh Goyal’s Return

https://www.bloombergquint.com/opinion/jet-airways-lenders-leave-door-open-for-naresh-goyals-return#gs.3bg9ok

Quote:
The chairman of State Bank of India made an interesting comment in an interview with BloombergQuint on Monday, minutes after news broke that the Goyals were leaving Jet Airways Ltd. and the airline’s lenders were looking for a new investor via a competitive bidding process. When asked whether Etihad wanted to remain an investor in Jet, or go, Rajnish Kumar said “It is their choice. Even for Naresh Goyal, it is his choice and his capability to bring in funds. Doors are open for everyone...”. It was an odd thing to say for a lender that had just succeeded in evicting Naresh Goyal and his wife Anita from the board of Jet Airways.

The Goyals are the promoters of Jet, at one time India’s largest private sector airline, now third-largest. Also, most indebted. Their failure to run the airline profitably, and an over Rs 8,500 crore pile of debt is what prompted their eventual departure from the 25-year old airline. Evidently, the lenders were convinced that no new investor would consider putting money to work at Jet if the Goyals stayed on. That's a damning indictment of, at best their mismanagement, at worst their lack of bonafide intent. And yet within minutes of having announced this decision, the SBI chairman was leaving the door open for Goyal’s return?

Goyal The Survivor
Jet started as an air taxi operator in 1993 and a full fledged airline in 1995. All the other airlines born in that decade died. There are a few survivors from the next decade but Goyal and Jet have stood the longest. And fought the hardest.
1991-2000
Air Sahara: 1991-2006
Damania Airways: 1993-1997
Bharat Airways: 1995-1999
East - West Airlines: 1992-1995
Modiluft: 1994-1996
NEPC Airlines: 1993-1997
Jet Airways: 1993...

2000-2010
Simplifly Deccan: 2003-2008
Air India Express: 2005...
Kingfisher: 2005-2013
Paramount Airways: 2005-2010
Go Air: 2005... S
piceJet: 2005...revived...
Indigo: 2006...

2010-2019
Air Asia: 2014...
Vistara: 2015...

Policy Luck
Goyal was a non-resident Indian when he founded Jet. The airline was owned by Tail Winds, an Isle of Man company in which Goyal owned 60 percent, and Gulf Air and Kuwait Airways owned 20 percent each. At the time, foreign direct investment of up to 40 percent was permitted in Indian airline companies. NRIs were allowed to own 100 percent.

Such a liberal foreign investment policy, all the way back in the early-1990s? Goyal was a lucky man. And has held on to the luck. In the 25 years since then, India’s aviation policy has facilitated his interests the most.

When the Tatas wanted to re-enter aviation in the late-’90s, in partnership with Singapore Airlines, aviation policy suddenly changed to disallow investment by foreign airlines. Goyal replaced his two investors and carried on flying. The Tata Group replaced its partner but was still not granted a license. In December 2004, two months before Jet Airways did an initial public offer, aviation policy underwent a historic change, allowing Indian airlines to fly abroad. But only if they had been in operation for at least five years and had a fleet of 20 aircraft. Of course, Jet was the only one who qualified.

Till the policy was scrapped in 2016 it served to protect Goyal’s interests by denying many of his competitors lucrative overseas routes. But no policy could protect Goyal from the onslaught of budget carriers. Air Deccan, Indigo, SpiceJet...they slowly encroached on Goyal’s empire that was so far standing in equal parts on good service and political protection. That’s when Jet made its first biig error. The acquisition of Air Sahara in 2007. A poorly-run airline that hung around Jet’s neck like a stone. By 2013 Jet was in dire need of capital, what with debt of over Rs 11,000 crore. How lucky then for Goyal that just months, literally months, before he announced a deal with Etihad Airways, the government changed aviation policy to permit foreign airlines to invest in Indian carriers. The Jet-Etihad deal was also accompanied by a substantial increase in bilateral flying rights to Abu Dhabi, Etihad’s headquarters. And though Etihad paid an over 30 percent premium for a 24 percent stake, its participation rights in Jet were severely controlled. Ostensibly by the government or regulators but it worked just fine for Goyal as well.

But eventually even that money ran out. So has Goyal's luck. The airline that once boasted of being India’s biggest and best carrier, credit to Goyal for that, defaulted on a loan in January 2019. If it weren’t for the Reserve Bank of India’s 2018 circular, Jet might have gotten a longer rope. But the default kicked off a 180-day debt restructuring deadline, after which lenders would have to file insolvency proceedings and make enhanced provisions for the debt. For a moment it seemed that Etihad would come to the rescue again. But a variety of factors, including its own financial situation and disagreements with Goyal, made Etihad a prospective seller not buyer.

A new investor would have to be found. But who would want to move in with the Goyals? It took lenders weeks to convince the Goyals to give up their board seats and his chairmanship. Though they still have two nominees on board.

Kumar also stated in another interview that Goyal has signed a binding agreement with lenders to reduce his current 25.5 percent shareholding in the airline to below 10 percent, if a new investor so wants. “Both Etihad and Goyal will have to sell their stakes as desired by the new investor,” Kumar said to Economic Times. In a hurry to see him go and yet keeping the door open for him to return? Remember, any resolution plan will involve capital infusion but won’t involve paying off all debt at one go. Instead, it will be restructured to a viable level. And Kumar and the lenders have no problem if such a plan is presented by Goyal.
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PostPosted: Thu Mar 28, 2019 7:00 pm    Post subject: Reply with quote

At the time of the acquisition of Air Sahara in 2007 by Jet, both Indigo and SpiceJet were in their infancy and Jet had ample time to make the necessary changes with Air Sahara. And for the most part Air Sahara/Jet lite is not the main culprit for Jet's woes.

Also the acquisition was not as bad as Kingfisher's acquisition of Air Deccan.

Some of the other main points for Jet's current situation in my opinion:

Jet was caught by surprise by aggressive expansion of Indigo and to some extent Spice Jet, both in domestic and also in nearby International routes.
Jet thought its reputation and the fact it has a frequent flyer program could stem the LCC expansion, but in India, the frequent flyer programs have not taken off.

Increase of price of oil in early 2018.

Decrease of price of oil prior to that, and Jet failed to take aggressive action to protect their turf. They should have monopolized BOM by introducing new flights and could have the LCC's growth restricted at least in BOM.

Failed Brussels experiment, Jet was another 1 stop carrier to US competing with other 1 stops which have more access to many Indian cities and US cities.

And of course, continued aid to AI (affects Jet more since AI is the main international competitor to Jet) and Shiv Sena meddling with Jet's business by forcing Jet to take back laid off employees.
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PostPosted: Fri Mar 29, 2019 1:14 pm    Post subject: Reply with quote

Two more 737-800s have been returned to lessors : VT-JTF & VT-JTG.
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PostPosted: Mon Apr 01, 2019 1:19 am    Post subject: Reply with quote

Tata Group, TPG, Etihad Airways may bid for Jet Airways

https://www.moneycontrol.com/news/business/companies/tata-group-tpg-etihad-airways-may-bid-for-jet-airways-3723881.html

Quote:
Etihad Airways has shown interest in bidding for Jet Airways and has already approached the State Bank of India-led consortium for the same, sources told CNBC-TV18.

The Abu Dhabi-based airline may seek an additional 37 percent stake in Jet which will take its stake to 49 percent, sources said on condition of anonymity. Etihad currently has a 24 percent stake which will fall to 12 percent after lenders take up a majority stake in the airline.

Moneycontrol could not independently verify the report.

American investment firm TPG is also interested in the cash-strapped airline, said the sources. It may make its bid with a partner fund. TPG had also shown interest in a stake in JetPrivilege in 2018. Apart from TPG, lenders have also reportedly reached out to the Tata Group for a potential investment in Jet Airways.

Moneycontrol had reported on March 20 that even if Tata Group is approached, it will take a couple of months to get it on board, as regulatory norms require due diligence on part of the bidders.

The NIIF or National Infrastructure Investment Fund was expected to acquire nearly 20 percent stake in Jet Airways according to the first resolution plan. It could still consider buying a stake in the airline along with a strategic player, the sources added.

SBI Chairman Rajnish Kumar had said bids will be invited till April 9 and final bids are expected by April 30. SBI is confident of getting a new investor for Jet by May 31. The airline has over Rs 8,000 crore in debt and is looking for urgent cash to pay its staff and retrieve its fleet
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PostPosted: Mon Apr 01, 2019 9:29 am    Post subject: Reply with quote

Jet Airways International inventory changes as of 31MAR19

Jet Airways in the last few days further revised planned international service, as the airline closed reservations for selected regional service on/after 01MAY19 once again. Additional routes also see service suspension for the month of April 2019.

Inventory changes as of 31MAR19 as follows.

Route suspensions from 31MAR19 to 05APR19. Reservation is closed for travel between 06APR19 and 26APR19:
Delhi – Bangkok
Mumbai – Bangkok
Mumbai – Doha
Mumbai – Dubai

Route suspensions from 31MAR19 to 25APR19. Reservation is closed for travel on/after 26APR19:
Mumbai – Dammam
Mumbai – Kuwait City

Route suspensions already in effect until 25APR19. Reservations remains closed for travel on/after 26APR19:
Delhi – Dhaka
Mumbai – Dammam
Mumbai – Dhaka
Mumbai – Jeddah
Mumbai – Kathmandu

Route suspensions already in effect until 30APR19. Reservation remains closed for travel on/after 01MAY19:
Delhi – Abu Dhabi
Delhi – Dubai
Delhi – Hong Kong
Kolkata – Dhaka
Mumbai – Abu Dhabi
Mumbai – Bahrain
Mumbai – Manchester

Route suspensions already in effect until 31MAY19, instead of 30APR19. Reservation for travel on/after 01JUN19 remains closed:
Bangalore – Singapore
Delhi – Dammam
Delhi – Riyadh
Pune – Abu Dhabi
Pune – Singapore

Service reductions until 05APR19. Suspended service remains closed for booking for travel on/after 06APR19:
Mumbai – Colombo Reduce from 2 to 1 daily

Service reductions until 30APR19. Suspended service remains closed for booking for travel on/after 01MAY19:
Delhi – Kathmandu Reduce from 4 to 2 daily
Delhi – Singapore Reduce from 3 to 1 daily
Mumbai – Singapore Reduce from 3 to 1 daily

Service suspensions until 30APR19, set to resume 01MAY19:
Mumbai – Hong Kong 7 weekly

All inventory remains subject to change on daily basis.



Source: Airlineroute.net
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PostPosted: Wed Apr 03, 2019 7:58 am    Post subject: Reply with quote

https://timesofindia.indiatimes.com/business/india-business/take-leave-without-pay-if-you-wish-jets-offer-to-its-boeing-737-pilots/articleshow/68684631.cms

Jet Airways grounds 15 more aircraft

Apr 3, 2019

Jet Airways has grounded 15 more aircraft. The airline had on Tuesday afternoon told DGCA, which is monitoring the situation on a daily basis, that it was flying 28 planes. Then late on Tuesday, it told BSE about the grounding of 15 more planes. Even after this latest grounding, an airline spokesman said Jet was flying "about 30" planes. The situation is worsening due to delay in infusion of emergency funds.
The airline, which once had 124 planes, now has a barely double digit fleet.

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PostPosted: Wed Apr 03, 2019 3:53 pm    Post subject: Reply with quote

https://timesofindia.indiatimes.com/business/india-business/less-than-15-aircraft-of-jet-airways-currently-operational-aviation-secretary/articleshow/68702001.cms

Less than 15 aircraft of Jet Airways currently operational: Aviation secretary

Apr 3, 2019

Less than 15 aircraft of Jet Airways are currently operational, civil aviation secretary P S Kharola said on Wednesday.

Asked about the active fleet of the beleaguered airline, the aviation secretary said here that "yesterday, it was 28".

On the airline informing stock exchanges on Tuesday evening that 15 more aircraft have been grounded, Kharola said the current fleet "would be less than about 15".

The airline has around 119 aircraft in its fleet. In the last few weeks, the airline has been grounding its aircraft in tranches due to non-payment of dues to lessors.

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PostPosted: Wed Apr 03, 2019 9:33 pm    Post subject: Reply with quote

Let it die.
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PostPosted: Wed Apr 03, 2019 11:23 pm    Post subject: Reply with quote

Lessors better get a hold of all their planes before its seized by the banks and airport authorities and eventually becoming rusted aluminium cans thanks to bureaucracy.

Kingfisher part 2...
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PostPosted: Sat Apr 06, 2019 6:36 am    Post subject: Reply with quote

Jet Airways may make a landing in Tata Group

Singapore Airlines is assisting in the bidding process and may pick stake’; last date for submission of bids is April 9

The Tatas are learnt to be interested in acquiring the cash-strapped Jet Airways which has been put up for sale by Indian lenders.

In a bid to find a buyer at the earliest to mobilise an estimated ₹8,500 crore for revival, banks, led by the State Bank of India (SBI), on Thursday decided to invite expression of interest (EoI) from interested parties on April 6, 2019 and the Tatas are planning to submit a bid, people familiar with the development said. The last date for submission of bids is April 9. A Tata Sons spokesperson said, “We do not comment on market speculation.”

Preliminary talks

In November last year, the Tatas, who run Vistara and AirAsia India in joint ventures, had held preliminary discussions to invest in Jet Airways. Tata Group chairman N. Chandrasekaran even took the proposal to the Tata Sons board for approval. However, they withdrew because Jet’s promoter wanted to retain control over the airline which was not acceptable to the Tatas.

Now that Mr. Goyal is out of the scene, the Tatas may be interested in making a bid.

Earlier, it was estimated that they would invest about $1 billion to acquire a controlling stake in Jet, but now there has been a sharp erosion in value as the airline is on the brink. Analysts estimate Jet’s total liability at more than $2 billion, including bank and aircraft loans of ₹7,500 crore. Little is known about how much debt had been accumulated in last six months.

“The last six months has been damaging for Jet Airways. The delay has eaten away the company. Six months back, the valuation could have been better. Now, it is up to the banks on how much haircut they can accept,” said Ansuman Deb, aviation analyst, ICICI Securities. It is understood that Singapore Airlines, which holds 49% stake in Tata SIA Airlines that runs Vistara, is assisting in the bidding process and may pick up a stake.

According to analysts, the broader plan of the Tatas is to integrate its existing airlines ventures with Jet Airways. A combination of Jet, Vistara and AirAsia India can pose a tough challenge to IndiGo which is heading towards a near monopoly situation.

“The Tatas will be a good option for Jet Airways. They can consolidate and combine the strengths. The Indian aviation sector needs consolidation,” said an analyst asking not to be named.

“Air India will survive because it is running with government money, IndiGo will be getting all powerful with $2 billion cash on its books of account. We need one more large airline to match up to IndiGo. Tatas can make it and give a tough competition to IndiGo. Others like SpiceJet and GoAir are too small,” he said.
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PostPosted: Mon Apr 08, 2019 1:27 pm    Post subject: Reply with quote

https://www.businesstoday.in/sectors/aviation/jet-airways-boeing-777-fleet-at-risk-of-repossession-as-airline-delays-bank-repayment/story/335057.html

Jet Airways Boeing 777 fleet at risk of repossession as airline delays bank repayment

April 8, 2019

Last week, two of its lessors, MC Aviation Partners and Avolon, applied to the Directorate General of Civil Aviation (DGCA) for de-registration, which means that the lessors can take their aircraft out of country and lease them to other players. But now even the planes owned by Jet Airways may be at risk- it owns a total of 17 aircraft, mostly Boeing 777 and Airbus A330 planes, while the rest of its fleet is leased.

In September 2005, Jet Airways had signed a purchase agreement for 10 Boeing 777-300ER series aircraft with plans to start serving long-haul international destinations. According to The Economic Times, these aircraft were bought under a finance lease agreement. These work more like an EMI scheme whereby the lessee (Jet in this case) obtains ownership at the end of the tenure while in the case of operating lease agreements, the aircraft go back to the lessor.

Because of this factor, with Jet Airways having delayed repayments of over $18 million to global lenders- including Citibank- that had financed its purchase of the Boeing 777s on the back of guarantees from Export-Import (EXIM) Bank of the US, these planes are now at risk of being repossessed.

The daily added that in a presentation detailing the latest revival and fund infusion plan for Jet Airways, payments to EXIM Bank were estimated at Rs 1,433 crore. Under the circumstances, a guarantee invocation could sound the death knell for Jet Airways as the US institution would likely deregister and then repossess the planes. That would be a big blow for the already ailing airline since the Boeing 777s have been cited as collateral for additional loans that it aims to raise as part of the latest revival plan.

"There is a delay on the B777 payment. But the airline is within the cure period and in touch with the financer to ensure payment", a source in the know told the daily, adding there has been no default notice as yet. However, soon after it missed the due date in end March, Jet Airways reached out to the MNC banks requesting them to condone the payment delay and give the airline some time citing the revival package in the works.

Meanwhile, Reuters reported that about six more lessors are expected to apply to the aviation regulator to de-register up to 15 additional grounded planes over the next 10 days, signalling that the planned bailout of the debt-laden carrier is failing to assuage lessor concerns. About 100 of Jet's 119 mainly Boeing planes are leased by companies such as Avolon, GE Capital Aviation Services and AerCap Holdings.

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PostPosted: Tue Apr 09, 2019 10:27 am    Post subject: Reply with quote

https://www.thenewsminute.com/article/lufthansa-singapore-airlines-among-6-entities-show-interest-jet-airways-99713

Lufthansa, Singapore Airlines among 6 entities to show interest for Jet Airways

April 09, 2019

Global private equity firm TPG Capital and international airline such as Lufthansa are among six entities who are believed to have shown interest in the "expression of interest" stake sale process of the debt-ridden Jet Airways, sources said.

The development comes as lenders of the debt-ridden airline invited EoI for stake sale in the airline to recover their dues worth Rs 8,000 crore.

Sources said that TPG Capital, private equity firm KKR, Blackstone, Lufthansa, Singapore Airlines and Delta-Air France-KLM are among the companies approached by the lenders.

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PostPosted: Wed Apr 10, 2019 7:55 am    Post subject: Reply with quote

https://www.financialexpress.com/industry/jet-airways-on-a-steady-fall-operations-down-to-just-32-flights/1543327/

Jet Airways on a steady fall, operations down to just 32 flights

April 10, 2019

Crumbling Jet Airways has massively reduced its operations from its main hub Mumbai to just about 32 flights Tuesday, said an airline source. Amid acute financial crunch, which has also forced it to delay salaries to employees and payments to banks, aircraft lessors and vendors, Jet is struggling to remain afloat.

“Jet Tuesday operated only 22 planes, bringing down daily operations to 32 flights from Mumbai, the main hub. This included 16 arrivals and departures each,” the source said, adding the airline didn’t operate the remaining four aircraft. According to him, of the 22 planes it operated, 16 were on the domestic routes and the rest were deployed in the international routes. Jet Airways could not be reached for comment. Civil aviation secretary Pradeep Singh Kharola said had on April 4 said that Jet Airways was flying only 26 aircraft”.

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PostPosted: Wed Apr 10, 2019 6:50 pm    Post subject: Reply with quote

May be the final days of Jet.... a Jet aircraft was seized at AMS. Passengers to BOM are stranded.

https://www.indiatoday.in/amp/business/story/jet-airways-plane-seized-amsterdam-1498435-2019-04-10
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PostPosted: Thu Apr 11, 2019 2:19 am    Post subject: Reply with quote

Banks extend deadline to submit bids for Jet stake to April 12

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/banks-extend-deadline-to-submit-bids-for-jet-stake-to-april-12/videoshow/68819333.cms
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PostPosted: Thu Apr 11, 2019 2:29 am    Post subject: Reply with quote

Two bids received for Jet Airways: ET NOW sources

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/two-bids-received-for-jet-airways/articleshow/68821303.cms

None of the two interested parties are from an airline, could be funds.In the meantime, EY seems to be showing quite some interest.
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PostPosted: Thu Apr 11, 2019 5:59 am    Post subject: Reply with quote

https://www.businesstoday.in/current/corporate/dgca-de-registers-7-boeing-737-800-aircraft-jet-airways-allows-lessors/story/336096.html

DGCA de-registers 7 Boeing 737-800 aircraft of Jet Airways, allows lessors to take them back

April 10, 2019

DGCA announced it de-registered seven Boeing 737-800 aircraft of Jet Airways on Wednesday, allowing its lessors to take the planes out of the country so that it can be leased to any other airline.

During the last a few weeks, Jet Airways has been grounding its aircraft in tranches due to non-payment of dues to its lessors. While the airline has a fleet of about 119 aircraft, Civil Aviation Secretary Pradeep Singh Kharola said on April 4 that only 26 aircraft of Jet Airways are flying "currently".

The DGCA announced on its website that seven de-registered Boeing aircraft belong to lessors such as Crolly Aviation, Mardal Aviation, Allenwood Aircraft Leasing, Dungarvan Aircraft Leasing, Elphin Aircraft Leasing, Carlow Aircraft Leasing and Ballyhaunis Aircraft Leasing.

All aforementioned seven companies are based out of Dublin in Ireland. They had put in the IDERA (irrevocable deregistration and export request authorisations) requests with the DGCA on and around April 3.

The regulator also showed on its website that lessors have put in IDERA requests to de-register 24 other aircraft, which were leased to Jet Airways.

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PostPosted: Thu Apr 11, 2019 3:51 pm    Post subject: Reply with quote

Naresh Goyal May Submit Bid For Jet Airways’ Stake

https://www.bloombergquint.com/business/naresh-goyal-may-submit-bid-for-jet-airways-stake
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PostPosted: Thu Apr 11, 2019 3:52 pm    Post subject: Reply with quote

Relief for Jet Airways! There are parties interested in buying stake after all

https://www.businesstoday.in/current/corporate/jet-airways-stake-sale-relief-for-jet-airways-there-are-interested-parties-in-buying-stake-after-all/story/336193.html

Quote:
Etihad Airways PJSC, National Investment and Infrastructure Fund Ltd (NIIF) and private equity firms TPG Capital and Indigo Partners have expressed interest in picking up stake in Jet Airways
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PostPosted: Thu Apr 11, 2019 6:24 pm    Post subject: Reply with quote

https://timesofindia.indiatimes.com/business/india-business/jet-airways-now-operating-only-14-planes-naresh-goyal-may-bid-for-airline/articleshow/68831154.cms

Jet Airways now operating only 14 planes; Naresh Goyal may bid for airline

Apr 11, 2019

Jet Airways is operating 14 aircraft on Thursday, the smallest fleet of among schedule domestic carriers. The aviation ministry had earlier said it will review Jet’s eligibility to fly abroad if its fleet fell below 20. Fresh comments on the issue are awaited from the ministry and Directorate General of Civil Aviation (DGCA).

“Jet is operating 14 aircraft today (Thursday),” said a senior DGCA official. These aircraft are: 7 wide body (six B777 and one Airbus A330); 4 Boeing 737 and 3 turboprop ATRs. Government rules stipulate an airline must have at least 20 planes to be eligible to fly abroad.

Meanwhile, airline sources say founder Naresh Goyal may submit expression of interest for buying stake in the airline. The last date of submitting EoIs is Friday. People whose EoIs are found eligible, PSUs, government-promoted funds and quasi sovereign can submit bid by April 30.

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PostPosted: Thu Apr 11, 2019 6:33 pm    Post subject: Reply with quote

An A330-200, VT-JWQ, has been returned to lessor.
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PostPosted: Thu Apr 11, 2019 9:43 pm    Post subject: Reply with quote

luvleen wrote:
Naresh Goyal May Submit Bid For Jet Airways’ Stake

https://www.bloombergquint.com/business/naresh-goyal-may-submit-bid-for-jet-airways-stake


Like selling the corpse of a murder victim to its murderer.

The absurdity is astounding.
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PostPosted: Fri Apr 12, 2019 2:18 am    Post subject: Reply with quote

Jet on its final descent? Grounds East, NE flights; suspends international ops


https://timesofindia.indiatimes.com/business/india-business/jet-on-its-final-descent-grounds-east-ne-flights-suspends-international-ops/articleshow/68838332.cms

Into ops suspended for a day. Truly sad to see once the best airline India had to offer to be reduced to this. Hope things turn around for them and they return to their heydays.
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PostPosted: Fri Apr 12, 2019 7:06 am    Post subject: Reply with quote

https://timesofindia.indiatimes.com/business/india-business/jet-cancels-all-international-flights-for-now-left-with-just-14-domestic-aircraft/articleshow/68841572.cms

Jet cancels all international flights for now, left with just 14 domestic aircraft

Apr 12, 2019

et Airways cancelled all international flights for Thursday night and Friday morning even as it operated just 14 aircraft during the day — the smallest fleet among scheduled domestic carriers.
The aviation ministry had earlier said it would review Jet’s eligibility to fly abroad in case its fleet strength fell below 20 — the minimum number needed to be eligible to fly abroad.

The beleaguered carrier cannot even afford to refuel wide-body planes and meet other expenses of maintaining foreign flights in absence of the promised Rs 1,500-crore emergency funding from its lenders. Unless the fund is infused quickly — the entire sum and not in a trickle — it is endgame for the airline as it can shut down completely in a matter of days, Jet sources say.

“What all flights we can resume from Friday afternoon will depend on the lenders meeting their promise,” a senior Jet official said.

The carrier informed BSE on Thursday evening that 10 more aircraft had been grounded. With international routes suspended, it will operate only about a couple of B737s and ATRs each on some domestic routes from Thursday evening to Friday unless fund infusion makes it possible to mount expensive wide body routes.

“We are in liquid oxygen — neither alive nor dead. The promise of emergency funds is the elusive oxygen as we drown in absolute cash crunch. The promised lending must come in one go and not in parts,” said sources.

The airline had 14 operational aircraft on Thursday — 7 wide body (six Boeing 777 and one Airbus A330) and 7 Boeing 737s and turboprop ATRs. Indian carriers with at least 20 planes in its fleet are allowed to fly abroad. But even before government could review Jet’s eligibility to go abroad, cash crunch will make Jet India’s smallest schedule airline flying only domestic routes till Friday morning. Whether the situation remains like that or changes, will depend on lenders loosening their purse strings as promised.

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PostPosted: Fri Apr 12, 2019 8:03 am    Post subject: Reply with quote

Jet Airways International inventory update as of 12APR19

Jet Airways as of Thursday 12APR19 filed additional inventory changes to its international service, based on latest development. Planned changes includes the following.

Reservation closed for travel from 12APR19:
Chennai – Paris CDG
Delhi – Amsterdam – Toronto
Delhi – Kathmandu
Delhi – Singapore
Mumbai – Colombo
Mumbai – Paris CDG (until 10JUN19)
Mumbai – Singapore

Reservation closed for travel until 18APR19:
Bangalore – Amsterdam
Mumbai – Amsterdam
Mumbai – London Heathrow

Reservation remains closed for travel on/after 26APR19 (* New additions, previously scheduled to resume on/after this date):
Delhi – Bangkok*
Delhi – Dhaka
Mumbai – Dammam
Mumbai – Dhaka
Mumbai – Doha*
Mumbai – Dubai*
Mumbai – Jeddah
Mumbai – Kathmandu
Mumbai – Kuwait City

Reservation for travel on/after 01MAY19 closed once again:
Mumbai – Hong Kong

Reservation for travel remains closed on/after 01MAY19:
Delhi – Abu Dhabi
Delhi – Dubai
Delhi – Hong Kong
Kolkata – Dhaka
Mumbai – Abu Dhabi
Mumbai – Bahrain
Mumbai – Manchester

Reservation for travel remains closed on/after 01JUN19:
Bangalore – Singapore
Delhi – Dammam
Delhi – Riyadh
Pune – Abu Dhabi
Pune – Singapore


Source: Airlineroute.net
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PostPosted: Fri Apr 12, 2019 9:46 pm    Post subject: Reply with quote

https://timesofindia.indiatimes.com/business/india-business/jet-airways-to-fly-6-7-aircraft-on-both-days-this-weekend-on-domestic-routes-aviation-secretary/articleshow/68854135.cms

Jet Airways to fly with 6-7 aircraft this weekend on domestic routes: Aviation secretary

Apr 12, 2019

Jet Airways will fly six to seven aircraft on both days this weekend on domestic routes, aviation secretary P S Kharola said on Friday.

He also said the airline has been told to ensure that passenger issues are taken into consideration while it deals with the situation.

It has also been told to alert passengers about flight cancellations 48 hours in advance, Kharola said.

"Jet had a meeting with bankers. It has put forth demand of funds. It is currently flying 11 aircraft and will fly six to seven aircraft in the domestic circuit on both days this weekend. We have asked it to take into consideration issues of passengers," the aviation secretary said.

Currently, Jet Airways is operating less than 50 domestic flights per day. The official said the airline has suspended its international operations till Monday.

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PostPosted: Sat Apr 13, 2019 3:20 am    Post subject: Reply with quote

Looks like 7 EOIs have been received - EY, Goyal, TPG, Indigo Partners, Redcliffe and Think Equity as a consortium, two individuals together and a senior executive vice president (EVP) of Jet with two others.

https://timesofindia.indiatimes.com/business/india-business/naresh-goyal-etihad-bid-as-jet-flies-on-a-prayer/articleshow/68858158.cms
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PostPosted: Sun Apr 14, 2019 5:29 pm    Post subject: Reply with quote

was reading today's news that Jet Airways has a massive pool of debt of around Rs. 8,000 crore. Considering most of the assets are financed, and some are leased, how does an airlines determine the limit of healthy debt. Agreed it has to be more than rest of the industries, but how is it determined? How does an airlines like Indigo diagnose that it is not heading in the same direction.

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PostPosted: Tue Apr 16, 2019 8:53 pm    Post subject: Reply with quote

Jet Airways only operating five planes now: Civil Aviation Ministry


https://www.dnaindia.com/business/report-jet-airways-only-operating-five-planes-now-civil-aviation-ministry-2740256
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PostPosted: Wed Apr 17, 2019 1:56 am    Post subject: Reply with quote

Jet Airways seeks Rs 400 crore from lenders to avoid shutdown

https://timesofindia.indiatimes.com/business/india-business/curtains-likely-for-jet-by-evening-board-asks-to-make-one-last-try-for-funds-shut-down-if-no-luck/articleshow/68906614.cms

CEO Vinay Dube has been empowered to order a temporary shutdown of the airline which may not be a bad thing. 9W can shut down until they have the investors and finances lined up before resuming ops.

Naresh Goyal has withdrawn his EoI following objections from other interested parties. Not sure why they would object particularly if he has investors backing him (although validity of his claims need to be verified)

400cr is what 9W is seeking immediately to continue its skeletal ops. I am not sure why the lenders led by SBI have refused to release the 1500cr promised particularly now that they can see that there is interest in buying stake in Jet from external parties.
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PostPosted: Wed Apr 17, 2019 11:22 am    Post subject: Reply with quote

Jet Airways crisis: Fleet down to 5 planes


https://www.businesstoday.in/sectors/aviation/jet-airways-crisis-fleet-down-5-planes-ceo-airline-cease-operations-without-rs-400-crore-infusion/story/337900.html
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PostPosted: Wed Apr 17, 2019 4:39 pm    Post subject: Reply with quote

The carrier's active fleet is now down to just five ATR72-500s. Flightradar24 ADS-B data indicates that the only aircraft flying on April 17 are: VT-JCL (msn 791), VT-JCM (msn 793), VT-JCQ (msn 843), VT-JCS (msn 920), and VT-JCV (msn 932).
The three former units are owned by Constellation Aircraft Leasing and the latter two by Injet Leasing.
A single B737-800 operated by subsidiary JetLite (S2, Delhi Int'l), VT-SJI (msn 34399) also remains active.


https://www.ch-aviation.com/portal/news/77286-jet-airways-in-need-of-58mn-immediately-to-survive
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PostPosted: Thu Apr 18, 2019 12:25 am    Post subject: Reply with quote

One of their 77Ws has been impounded in Amsterdam for non-payment of dues. Saw it parked in the KLM maintenance area yesterday.

It's all over chaps. RIP Jet Airways.

With the Kingfisher nonsense and now the Jet fiasco, the ability of Indian managers to run a full service airline has become the standing joke in the worldwide aviation community.
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PostPosted: Thu Apr 18, 2019 1:53 am    Post subject: Reply with quote

Its official. 9W shuts down operations until a new investor is found

https://timesofindia.indiatimes.com/business/india-business/22000-employees-stare-at-bleak-future-as-jet-flies-into-the-night/articleshow/68929696.cms
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