India regulator SEBI has no “view” on relaxing norms for Jet bailout


India’s capital markets regulator said on Wednesday it had not expressed an opinion on giving any relaxation to cash-strapped carrier Jet Airways Ltd , which is struggling to finalise a bailout deal with its major shareholder Etihad Airways.

Jet Airways, hurt by high fuel prices, a weak rupee and intense domestic competition, is struggling to stay afloat and owes money to banks, employees, vendors and lessors – some of which are exploring taking back aircraft, sources have told Reuters.

Etihad, which holds a 24 percent stake in Jet, is seeking an exemption from the Securities and Exchange Board of India (SEBI) on preference pricing and open offer guidelines to increase its stake in the cash-strapped carrier, local media reported.

SEBI is unlikely to exempt Etihad from making an open offer despite persuasion from one of Jet’s lenders, Read More

You may also read!

Orders coming in for ‘Khukri’ knives from US: Dehradun-based store

A shop in Uttrakhand's Dehradun, which claims to have been supplying the indigenously made curved 'khukri' knife to the

Read More...

Post-Balakot, Pakistan scrambled jets from 8 bases. Was 10 minutes late: IAF report

“The strategic-surprise” of the Balakot airstrikes by the Indian Air Force in the Khyber Phaktunwa region of Pakistan on

Read More...

India to stay away from Belt Forum as China tries to build influence

China is using the three-day Belt and Road Forum, which opens on Thursday, to exert its political muscle and

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu