Jet Airways bankruptcy and rebirth 2.0
#121
Join Date: Feb 2010
Location: ORD
Programs: US Air, UA BA LH AI DELTA MARRIOTT CHOICE SGP
Posts: 9,883
The question is what conditions are tied to this cash injection. SBI's involvement indicates some kind of state support, I doubt they would invest further cash without getting the approval of some babu first. Goyal giving away control indicates that Etihad is seriously involved. Which is surprising, because they are overall retreating quickly from all their investments to limit their losses.
#122
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
Join Date: Dec 2002
Location: MUC
Programs: LH SEN
Posts: 48,161
I don't recall Tata/Vistara being the race to take over 9W...? Didn't they look at AI?
Also are the restrictions on foreign ownership of airlines off the table now?
Also are the restrictions on foreign ownership of airlines off the table now?
#123
FlyerTalk Evangelist
Join Date: Apr 2009
Location: India
Programs: Bonvoy Lifetime Titanium, IHG Plat, HH Gold, Trident Plat, DL Diamond, AI Maharajah
Posts: 29,673
#124
Join Date: Jun 2016
Posts: 581
Yes that could be an angle. EY's "investments" have all failed and they're in a tight spot themselves.
I'm surprised QR didn't make an offer of 175 to Goyal and try and push EY out. They wouldn't get a better opportunity than this at least for the next few years.
I'm surprised QR didn't make an offer of 175 to Goyal and try and push EY out. They wouldn't get a better opportunity than this at least for the next few years.
#125
Join Date: Jul 2017
Programs: KrisFlyer Gold, Marriott & SPG Plat, Hilton Gold, ShangriLa Jade, Enterprise Plat, Taj Gold
Posts: 3,335
QR will not buy unless EY exits. SBI & co selling their shares would mean EY & QR would be jointly running things. That would make for a great sitcom though.
#126
Join Date: Jul 2017
Programs: KrisFlyer Gold, Marriott & SPG Plat, Hilton Gold, ShangriLa Jade, Enterprise Plat, Taj Gold
Posts: 3,335
So foreigners can own 100% of an Indian airlines and 49% of a foreign airlines in India. I think they changed this rule late last year.
#127
Join Date: Feb 2010
Location: ORD
Programs: US Air, UA BA LH AI DELTA MARRIOTT CHOICE SGP
Posts: 9,883
#128
Join Date: Jul 2017
Programs: KrisFlyer Gold, Marriott & SPG Plat, Hilton Gold, ShangriLa Jade, Enterprise Plat, Taj Gold
Posts: 3,335
You’d always want to distribute the risk with partners and financial institutions.
#129
Join Date: Mar 2018
Programs: Qatar, 9W, Hyatt, IHG
Posts: 3
Now is the time to redeem all 9W miles on international partners. From what I hear, the JP miles are soon to be 'devalued' in terms of requirements on partner airlines with no significant change in the earning ratio.
#132
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
Join Date: Dec 2002
Location: MUC
Programs: LH SEN
Posts: 48,161
So the conversion is approved:
But SBI is going to sue Jet for recovery of dues?
https://economictimes.indiatimes.com...w/68150022.cms
During the extraordinary general meeting (EGM) on Thursday, the shareholders also approved alterations to the company's Articles of Association and Memorandum of Association.
But SBI is going to sue Jet for recovery of dues?
https://economictimes.indiatimes.com...w/68150022.cms
#133
Join Date: Jun 2016
Posts: 581
I've been reading that it isn't finalised yet ? Goyal hasn't agreed to dropping his shares and board seat yet. SBI is running around being a mediator between Goyal and Etihad and maybe airing few of it's issues as well while they are at it.
#134
Join Date: Feb 2010
Location: ORD
Programs: US Air, UA BA LH AI DELTA MARRIOTT CHOICE SGP
Posts: 9,883
I suppose Goyal is playing brinkmanship thinking / knowing they cannot afford to go into bankruptcy.
#135
Join Date: Apr 2011
Location: Goa, India
Programs: Marriott Titanium, IHG Plat Ambassador, Hyatt Explorist, Qatar Gold, Vistara Gold
Posts: 1,292