Jet Going the Path of Kingfisher??

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Old Jun 14, 19, 9:08 pm
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Originally Posted by oliver2002 View Post
Everyone at Jet knew this was coming when the company defaulted on paying salaries last year. This was the point where people started looking elsewhere and left when they could. What remains are the rest that the industry has no interest in. Doing a sit in infront of anyones home is not really going to result in anything. Move on.
It keeps the wrongdoings in the forefront longer, hopefully future "Goyals, Maliys, etc" may take notice .
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Old Jun 15, 19, 9:17 am
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Apparently there’s a lot of new noise and activity around reviving 9W this week. Ministries are chatting, SBI is chatting... will be interesting to see what they come out with.
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Old Jun 15, 19, 10:05 pm
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Originally Posted by PiperAtGatesofDawn View Post
Apparently there’s a lot of new noise and activity around reviving 9W this week. Ministries are chatting, SBI is chatting... will be interesting to see what they come out with.
We should have a pool !
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Old Jun 17, 19, 12:56 pm
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Lenders drag Jet Airways to bankruptcy. I guess it is the beginning of the end. Only silver lining in all of this is that employees dues will paid before secured creditors/lenders. For some of the long term employees, gratuity, Leave encashments will probably be a substantial figure.

https://indianexpress.com/article/bu...court-5785415/
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Old Jun 18, 19, 3:20 am
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They've already selected an interim resolution professional... they've really fast tracked the bankruptcy proceedings!

https://www.moneycontrol.com/news/bu...s-4108551.html

This coming 3-4 days after the govt. and SBI said they're going to "solve 9W's provblems". I guess they were talking about different kinds of problems.
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Old Jun 18, 19, 8:16 am
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Originally Posted by manish83 View Post
Only silver lining in all of this is that employees dues will paid before secured creditors/lenders.
Suuure... employees are owed 3000 crore, but the only asset (16 aircraft valued at 5000 cr) is already part of a secured loan. No chance.
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Old Jun 18, 19, 8:45 pm
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Originally Posted by oliver2002 View Post
Suuure... employees are owed 3000 crore, but the only asset (16 aircraft valued at 5000 cr) is already part of a secured loan. No chance.
Agreed. That has as much chance as Goyal returning to a NEW IMPROVED JET AIRWAYS.
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Old Jun 19, 19, 12:47 pm
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Originally Posted by oliver2002 View Post
Suuure... employees are owed 3000 crore, but the only asset (16 aircraft valued at 5000 cr) is already part of a secured loan. No chance.
What about the 49% stake Jet has in Jet Privilege?
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Old Jun 19, 19, 7:57 pm
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Originally Posted by manish83 View Post
What about the 49% stake Jet has in Jet Privilege?
What is Jet Privilege worth ? It has liabilities to make good on miles earned.
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Old Jun 20, 19, 5:23 am
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JP was split off and bought by Etihad years ago.
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Old Jun 20, 19, 10:31 pm
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Originally Posted by oliver2002 View Post
JP was split off and bought by Etihad years ago.
SO the Jet creditors have no claims on it .....correct.
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Old Jun 27, 19, 10:17 pm
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It's a rather ironic situation on the whole.

You have the airline now grounded for over a month, most of it's planes already taken over by others, no crew to speak off. But, you have the shares for this airline still being traded on the markets, you have the frequent flyer program still alive & a bunch of co-branded credit cards also still alive and trying to convince it's customer base that the miles are all safe..!!!
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Old Jun 28, 19, 9:36 am
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More drama!

https://economictimes.indiatimes.com...w/69990717.cms
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Old Jun 30, 19, 9:02 am
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Originally Posted by quarryking View Post
you have the frequent flyer program still alive & a bunch of co-branded credit cards also still alive and trying to convince it's customer base that the miles are all safe..!!!
they are for the moment, albeit at terrible rates....i managed to redeem 4 tickets last week....
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Old Jul 1, 19, 2:12 am
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Vistara seems to be interested in bit of 9W to cover the gap as the new A320 and 321 arrive. Surprising to read that they have ordered 10 B787.



https://economictimes.indiatimes.com...w/70017183.cms
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