India's government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to avert thousands of job losses ...
Shareholders of the beleaguered Jet Airways have approved a proposal to convert a part of company's loans into shares with an overwhelming majority.
The Jet Airways flight to Jaipur had to turn back as the alarming symptoms became apparent, the airline said.
Jet Airways and state-owned Air India are struggling to stem losses in the world's fastest-growing domestic aviation market.
Doha Bank has announced the launch of a new campaign to offer a 12% discount on airfare on flights booked on Jet Airways.
Indian carrier Jet Airways has said it is considering various options on priority to meet its funding requirements, reaffirming that its revenue-boosting and cost-cutting measures have started to show results.
Jet Airways slid 8.04% in morning trade, a day after it told the Bombay Stock Exchange that it was delaying releasing its first-quarter results.
Jet Airways had told pilots it had enough cash left to keep operating for just 60 days and would need to put in place cost-cutting measures including pay cuts.
Jet Airways, in a filing to the stock exchange late on Tuesday, did not say whether the agreement was a formal order or a non-binding memorandum of understanding.