Air India offers 40 per cent discount on 'tatkal' air tickets

Vodafone Idea Vodafone Group Plc has pledged its entire 44.39 percent stake in Vodafone Idea worth over Rs 18,000 crore with seven foreign banks. The development comes after the country's largest telco Vodafone Idea issued new shares following its 25,000

Mumbai: A bid being stitched together by pilots of the grounded Jet Airways India Ltd. may get a hearing if no binding offers emerge from the four potential investors now in the race, people with knowledge of the matter said.

Lenders of the airline led by state-run State Bank of India (SBI) are now in the process of selling the airline to recover their dues of over Rs 8,400 crore.

State Bank of India (SBI) said on Friday it had received two unsolicited, non-binding bids for debt-laden Jet Airways Ltd, but none of the parties it short-listed last month as qualified bidders had so far entered the fray.

Etihad Airways on Friday said it was interested in investing in the ailing Jet Airways, but only for a minority stake and much of the needed capital for Jet Airways must come from other investors.

The lenders also received three unsolicited bids including one from its employees, banking sources said.

The lenders are offering up to 75 per cent stake in the company on a fully diluted basis, the Press Trust of India reported. Currently, the airline owes Rs 8,000 crore to the lenders.

Biden clears Route for campaign staff to Arrange union
The new taxes would result in hefty revenue to the USA , he said. "He will build a new climate coalition", she said. The former vice president of the United States is trying to get support from Barack Obama .

Earlier this week, a grouping of Jet Airways' pilots moved the Supreme Court seeking direction to the SBI to provide the assured interim finance for restarting operations.

Etihad Airways PJSC, India's National Investment and Infrastructure Fund and private equity firms TPG Capital and Indigo Partners have been shortlisted as potential investors.

The decision was taken owing to a dip in the capacity intake of the aviation sector in recent months followed by the temporary shutdown of Jet Airways' operations and the grounding of Boeing 737 Max aircraft by SpiceJet.

Commenting on the development, Club One Air Chief Executive and former India head of Qatar Airways Rajan Mehra said he can not reject the bids as non-serious. "Day by day, losses and loans are rising at Jet, the more the process is delayed the more the situation becomes irreparable".

If a deal fails to materialise, the airline could be dragged into bankruptcy by creditors, putting thousands of jobs at risk. On its part, the UAE-based airline said that its bid was subject to certain conditions.

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