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Jet Airways' I Ltd 20 B 737 Aircraft Engines Held in Singapore over UnPaid Dues

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Jet Airways' I Ltd 20 Aircraft Engines Held  in Singapore over UnPaid Dues Delays in fundraising and action by lessors could lead to more disruption
As many as 20  Boeing-737 [CFM-56] Engines belonging to Jet Airways I Ltd have been held back by a Maintenance, Repair and Overhaul [MRO] unit in Singapore over unpaid dues. The CFM-56 Engines Power Boeing 737 Aircraft and are stuck at ST Engineering’s MRO for Months. The latter is demanding $130-140 Million [ INR 900-1,000 Crore] in dues be cleared before these are released, industry sources said. With mounting losses, Jet Air has defaulted on lease and vendor payments. Its lessors are contemplating repossessing the planes they had lent. The MRO development highlights the Airline’s serious cash ...
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Aviation Entrepreneur of Inda Mr Naresh Goyal

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It seemed that the sun of this Aviation Entrepreneur of India would never be lost. Mr Naresh Goyal was one of the first people to jump in after this area was opened to private players in 1991. Since then, on the basis of market share, it is a journey to the skies of the founder of India's second largest Airline. A prominent example of entrepreneurship, Goyal introduced Indians to a great flight experience and gradually became Jet Airways's favorite airline for many people. In 2010, Jet became the country's largest airline with more than 20 percent stake in the passenger market. It took months for Jait to step in the international market, that news of its poor condition worsened. In May of this year, the airline celebrated its 25th anniversary and Goyal seemed optimistic about the future. In the company's annual report, he said, "The possibilities are bright."
But according to the news that was coming three months later, the airline had only enough cash for 60 d…

Jet Airways’ I Ltd Board of Directors to Look into Financial Restructuring Plan DGCA will also Monitoring Jet Airways' Financial Health, Safety Issues

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Jet Airways’ I Ltd Board of Directors to Look into Financial Restructuring Plan DGCA will also Monitoring Jet Airways' Financial Health, Safety Issues 

Jet Airways’ board will meet on Thursday to discuss the next possible steps in its 
fundraising efforts, even as the Airline undergoes a forensic investigation Directed by  its top Lender SBI NSE  - 2.22 % and tries to convince Etihad Airways to invest in it, said two people in the know. 
“The board will take stock of the financial restructuring plans and how far it has progressed,” said a person close to the development. “Etihad’s Directors too will be there.” Abu Dhabi-based Etihad owns 25% The forensic investigation means Jet will not get liquidity assistance from SBI or the lender consortium it is leading until the findings of the probe are tabled. 
“But SBI is playing a constructive role in this scenario, contrary to what may be the perception,” said the person quoted above. 
The ministry of corporate affAirs is also investigating a…

Blog Based Aviation Start-Ups We Are Looking for Digital Marketing Managers Human Resource Managers Business Development Managers Career Counselors Franchise Managers Content Writers / Bloggers

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