Finance Ministry sources in New Delhi said on Friday that the lenders of Jet Airways are in the process of securing "substantial stake" in the ailing airline to try and revive it to a manageable state, before selling it to new promoters.
Jet Airways, which was founded by Naresh and Anita back in 1993 ran into debt amounting to over $1 billion.
Jet Airways has more than Rs 8,000 crore in debt and is looking for urgent liquidity infusion to pay its pilots, engineers and make payments to its lessors.
Meanwhile, Corporate Affairs Secretary Injeti Srinivas said a "good outcome" from the negotiations between the creditors and the company would be better than moving for proceedings under the insolvency law, a PTI report said.
He was responding to a query on whether Jet Airways is a fit case to be referred under the Insolvency and Bankruptcy Code (IBC).
A formal announcement will be made after the airline notifies stock exchanges after market closing.
The government in Bamako has denied their accusations it turns a blind eye to - or even encourages - Dogon attacks on the Fulani. The death toll is not final, as local law enforcement officers continue to examine the scene of the brutal attack.
Hammond's comments signal a clear break from May's repeated refusal to allow the British public a second poll on Brexit. Demonstrators have begun arriving in central London to join a march on Parliament to demand a second Brexit referendum.
The Cavaliers are 0-5 against the spread in their last five NCAA Tournament games and 1-3 ATS in their last four games overall. While last year's Virginia team only ranked 30th on offense, this one has no such difficulties.
Tesla has gone through multiple layoffs over the past few months and is planning to close some of its retail stores. Block, who owns a small put position on Tesla, said the SEC has held Musk "partially" accountable.
The county's unemployment rate stands at 9.3 percent for the month, up slightly from January's revised rate of 9.1 percent. Professional, scientific and business services saw a 1,100-job gain last month, good for a 0.2-percent increase.
Barr noted that Mueller couldn't prove that Trump was involved in any underlying crimes related to Russian election interference. House Speaker Nancy Pelosi of Calif., speaks at an Economic Club of Washington luncheon gathering in Washington , March 8, 2019.
Trailing with 6.90 million votes was Pheu Thai, a party linked to exiled former Prime Minister Thaksin Shinawatra. Voting is underway in Thailand's first election since the military ousted an elected government in a 2014 coup.
The sharpshooter and volume shooter, now 30, had never caught on since being the 10th-overall pick in the 2011 draft. A 2007 graduate of Glens Falls High School, Fredette played four seasons of college basketball for BYU .
Through their first 8 shots from the field, the Wildcats connected on five of them, including 3-of-5 from beyond the arc. The Ducks beat a Wisconsin team that came from the Big Ten, which went 7-1 in the first round of the NCAA Tournament .
Moore has also been a CBN News contributor, writing for CBNNews.com and appearing on the 700 Club to provide economic analysis. There is a reason why politicians are no longer put in charge of interest rates in most developed democracies.
NYSE wins Uber, Pinterest listings
A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2017. Pinterest initially submitted its IPO plans confidentially.
ISIS caliphate gone, but group remains a threat
The spokesman for the Kurdish-led Syrian Democratic Forces (SDF) on Saturday said the sliver of land had been fully liberated. Sleeper cells in Iraq have staged a scatter-gun campaign of kidnappings and killings to undermine the Baghdad government.
Jet Airways suspends operations on 13 worldwide routes
Besides, Jet Airways has also reduced frequencies on seven other overseas routes, mostly from Delhi and Mumbai , as per sources. The airline has also suspended services on the Bangalore-Singapore route, where it flies twice daily, till end of April.