Can India's premier airline be rescued?
Can Jet be saved? A few days ago, it seemed the final chapter in the airline’s saga had been written. The banks, after seizing control of the airline, could not find anyone interested in taking it off their hands. Every day, more planes were being grounded or seized and flights cancelled. Fuel suppliers were refusing to give any more aviation fuel to even let the remaining planes take to the air. And it seemed only a matter of days before operations of what was once India’s premier airline ceased altogether.
Then suddenly, there seemed to be a ray of hope. A number of potential buyers have submitted their respective Expression of Interest (EoI). These apparently include two private equity-led bids, a sovereign investment fund, and even Etihad, the Abu Dhabi-based airline that has a 24 per cent stake in Jet but had only a few weeks earlier wanted the banks to buy its shares. What’s more, even Naresh Goyal, the airline’s founder who took it to lofty heights before crash landing it, has thrown his hat in the ring. Goyal’s EoI will be closely scrutinised legally as he had earlier refused to bring money. Investors willing to back him will also go through scrutiny. Whether the banks would like to talk to him after ejecting him forcibly late-March is open to question, of course.
But a ray of hope is all that these EoIs are for the beleaguered lenders who are collectively owed over 8,500 crore. (This does not include what Jet owes other creditors – fuel suppliers, lessors of planes, maintenance agencies, ground handling agencies, employees, etc.)
Diese Geschichte stammt aus der May 5, 2019-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 5, 2019-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
"Focus on the challenge of each customer"
SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company
PEDAL ON THE FUTURE
THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY
BREATHE EASY
Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference
The Taste of India in a Glass
FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN
LOOK BEFORE YOU LEAP
IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES
MISSING ADVISORS
INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE
TURNING A CORNER
SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE
REALITY CHECK
INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?
TRUMP'S TRADE TANGO
The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?
"The essence of the Trump administration will be transactional”
Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more