23
Wednesday
January 2019
7:36 AM IST
News Headlines
Rishabh Pant named ICC''s Emerging Cricketer of 2018        ''King Kohli sweeps ICC awards; also named captain of Test, ODI Teams of the Year        WhatsApp limits message forwarding to fight 'fake news'        India to surpass China to become 2nd largest oil demand centre in 2019        Kamala Harris'' 2020 US presidential bid excites Indian-Americans        Kapil Sibal demands probe into EVMs hacking claim        BJP using EVMs to suppress voice of opposition: Akhilesh        102 one-horned rhinos killed since 2008, 209 poachers arrested: RTI reply        Heavy rains, hail lash parts of Delhi; city traffic thrown out of gear        EVM hacking charges sets off political wrangling, EC files police complaint        NRIs are India's brand ambassadors, symbolise country's capabilities: PM        More domestic, international services from Kannur International Airport        Kohli will break all records created by Tendulkar: Zaheer Abbas        Man gets 7 years rigorous imprisonment for robbery        Encounter breaks out at Shopian in J-K        France fines Google nearly $57 million        Full dress rehearsal for Republic Day Parade on Wednesday, traffic restrictions to be in place        Jaitey calls Congress remarks on EVM hacking "lie and garbage"        China''s economy slumps to 28 year low to 6.6 per cent in 2018        Venezuela military group calls in video for not recognizing Maduro        
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Business News
Jet Airways In Talks With SBI To Raise Rs. 1,500 Crore: Report
 
Debt-laden Jet Airways is close to reaching a deal with State Bank of India for a fresh loan of Rs. 1,500 crore ($215 million) to meet its working capital needs, two sources aware of the matter told Reuters.

The airline has scheduled a meeting on January 8 with its vendors and lessors, many of whom are getting increasingly concerned over non-payment of dues, and officials from State Bank of India (SBI) to discuss the debt restructuring plan, the first source with direct knowledge said.

The bankers are being called to the meeting to reassure the creditors, some of whom are expected to come to India from overseas, that Jet is working toward securing funding and has a repayment plan which it will share with them, said the first source.

Jet, the country's biggest full-service carrier by market share, owes money to pilots, lessors, banks and vendors. Its problems have been exacerbated by higher oil prices and intense pricing competition in the domestic market.

The airline, part owned by Etihad Airways, was in talks with the Abu Dhabi-based carrier to infuse more equity, but any money would be conditional on Jet's founder Naresh Goyal ceding control, sources have told Reuters.

Lessors have already forced the airline to ground at least four of its new fuel-efficient Boeing 737 MAX aircraft over non-payment of dues, the first source said, adding more planes could be grounded if lessors are unconvinced by the plan Jet presents next week.

Jet Airways and SBI did not immediately respond to a request for comment.

Jet has a total of 124 aircraft, the vast majority of which are leased.


WhatsApp limits message forwarding to fight 'fake news'
India to surpass China to become 2nd largest oil demand centre in 2019
China''s economy slumps to 28 year low to 6.6 per cent in 2018
Minister says UK faces 'political tsunami' if Brexit halted
Mumbai TDS office issued prosecution notices in 50 ''big'' cases in past one month: CBDT
Honda Cars India announces increase in car prices, effective from Feb 1
IOC to raise USD 3 bn more in overseas loan
Jet Airways shares sink over 8% amid uncertainty over open offer
Huawei founder denies spying for China in rare interview
Rupee slips further, settles below 71-level against USD
Sebi fines 10 entities for fraudulent trading in Mindvision Capital shares
Govt sets up common facility centres for gems and jewellery sector
Rupee rises 14 paise against US dollar in early trade
Export demand to drive future growth of manufacturing companies
MCA summons directors, officers of Usha Martin
Reliance Communications Says 'Fully Committed' To Settle Dues With Ericsson
Petrol, Diesel Prices To Rise In Karnataka As State Hikes Fuel Taxes
RBI Scales Down Printing Of 2,000 Rupee Note: Report
Banks likely to recover bad loans worth Rs 70,000 crore by March-end: Arun Jaitley
BoB finalises share swap ratio for merger of Vijaya Bank, Dena Bank
KERALA NEWS
More domestic, international services from Kannur International Airport
 Thiruvananthapuram: More domestic, international services to start from Kannur International Airport  
Mineral sand mining: Talks fail, agitaion to continue
Kerala HC disqualifies Koduvally MLA
Kanakadurga attacked by mother-in-law
INTERNATIONAL NEWS
Kamala Harris'' 2020 US presidential bid excites Indian-Americans
 Washington, Jan 22 (PTI) Kamala Harris'' plunge in the 2020 US presidential race has thrilled the In
Kapil Sibal demands probe into EVMs hacking claim
France fines Google nearly $57 million
Venezuela military group calls in video for not recognizing Maduro
NATIONAL NEWS
BJP using EVMs to suppress voice of opposition: Akhilesh
 Lucknow, Jan 22 (PTI) Latching on to the claim by a US-based cyber expert that the 2014 Lok Sabha el
102 one-horned rhinos killed since 2008, 209 poachers arrested: RTI reply
Heavy rains, hail lash parts of Delhi; city traffic thrown out of gear
Man gets 7 years rigorous imprisonment for robbery
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