Rescue deal could be no panacea for struggling Jet Airways

Jet Airways’ investors are cheering this week’s government-led rescue deal, but the cash-strapped Indian airline’s future looks mired in uncertainty as convincing a new investor to come on board may not be easy.

The airline, which was on the brink of bankruptcy, was bailed out on Monday by state-run banks, which have temporarily taken a majority stake in the company, given it a new loan of $218 million and forced its chairman, Naresh Goyal, to step down from the board of the airline he founded 25 years ago.

Jet shares have rallied 20 percent since news of the rescue on hopes that the airline would now be able to clear salaries, redeploy grounded planes and claw back market share.  Read more

You may also read!

Stop Killing Civilians, Centre Tells Pakistan After 21 Deaths in Over 2,000 Ceasefire Violations This Year

India has given Pakistan a detailed list of at least 15 individuals allegedly involved in pro-Khalistani activities in Pakistan,


Army officer who died in Congo was to return to India this month

The body of Lieutenant Colonel Gaurav Solanki, who died in an accident in the Democratic Republic of Congo on


600 sea specialists, 1000s of Jihadis will ensure blood everywhere in India warns JeM

A week after the Navy warned that the Jaish-e-Mohammad was planning a sea borne attack, the Intelligence Bureau has


Leave a reply:

Mobile Sliding Menu