Etihad submits bid for India's Jet, eyes minority stake

Jet Airways Adi Gro Aviation part of the London-based Adi Partners submitted a binding bid to buy a stake in the grounded Jet Airways. The last date for submitting the bids is May 10. The lenders led by SBI are likely to decide the winning bidder for Je

"Etihad today confirmed its interest to re-invest in a minority stake in Jet Airways, subject to conditions", a spokesperson said. As Jet waits to see if any investors will submit binding bids on Friday to bail it out, other carriers are swooping in to scoop up its precious landing slots, which would allow them to operate more flights. "Etihad re-emphasises that it can not be expected to be the sole investor, and that, amongst other requirements, additional suitable investors would need to provide the majority of Jet Airways' required recapitalisation". It added that the banks are likely to evaluate the bids next week. Etihad now has 24 pc stake in the temporarily grounded Jet Airways. SBI Caps, which has conducted the bidding on behalf of the lenders' consortium, said banks would now examine the bid and also decide on the legality of two unsolicited bids which have been received.

Lenders had put 75% stake of Jet Airways on sale.

Etihad was among four investors that submitted initial bids for the airline last month.

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.

US Democrats call against war with Iran
So after initial hesitance, Trump finally took the decision in May 2018 to back away from the internationally binding agreement. They saw it as a trap set by Iran to wriggle out of the crippling sanctions and ultimately restart their nuclear activities.

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.

The distressed airline, which had more than 120 planes in its fleet, has been grappling with financial woes.

Private equity firms IndiGo Partners and TPG, Etihad Airways and the sovereign fund NIIF were shortlisted on April 12 after the first round of bids. The lenders' consortium had also announced that it would infuse emergency funding of Rs 1,500 crore to keep Jet Airways afloat, but this money was never transferred, leading to Jet sinking into a deeper financial crisis and eventually causing its temporary shutdown on April 18.

Jet founder Naresh Goyal, who was forced to step down from the airline on 25 March as part of a deal with lenders, had earlier partnered with Future Trend Capital to submit a bid for investing in the airline.

Related News:

Most liked

Biden 2006: US needs border fence
But he also assured that because the USA economy "is in a boom, ' it would not be damaged 'in any appreciable way" by the tariffs. Ducklo offered no information concerning Biden staffers' premiums but said they are aggressive within the campaign sector.

India's Oil Imports From Iran Down 57% In April
New Delhi announced last month that it would acquire additional supplies but analysts doubt it can fill the gap left by Iran . While trade war concerns have weighed on prices this week, "the spreads clearly point toward a tight market", ING bank said.

Israel reopens Gaza's border crossings
Gazans have held weekly rallies since March 2018, primarily to draw worldwide attention to the dire living conditions. Gaza officials said Sunday that Israel had agreed to ease its decadelong crippling blockade in exchange for calm.

Away: The Survival Series announced with first trailer
Away: The Survival Series is one of the original games debuted during Sony's latest State of Play presentation. No release date has been announced for the game just yet, but hopefully, a 2019 release is still possible.

Novak Djokovic tops Stefanos Tsitsipas to win 3rd Madrid title
Tsitsipas twice lost his serve in the opening set, but broke Nadal three times on his way to edging it after 58 minutes. Djokovic can add to his Australian Open title on Sunday thanks to his confidence-boosting win over an in-form Thiem.

Watford vs. West Ham United - Football Match Report
Lukasz Fabianski will start in goal for the Hammers after keeping two clean sheets in the last two games. I kept the same attitude during all of the season and I don't want to change at the last one.

Dogs detected decomposition in missing girl case
Law enforcement in the case has released an image that shows Vence carrying a laundry basket with a black garbage bag. On the way, he heard a "popping noise" and stopped his vehicle because he thought he had a flat tire.

Boston Red Sox Visit the White House
But once you get by that storyline, there were several gaffes committed by Trump and the White House on Thursday worth noting. He said they were all grateful to be there, also enjoying a visit to the Oval Office and a tour of the Lincoln Bedroom.

Mother in alleged kidnapping, charged with attempted 1st-degree murder
When asked about Madden's kidnapping claim, Griffin said, "at this point we don't believe that to be factual- none of that". Madden called 911 around 4:30 p.m. on May 9 claiming that she and her infant daughter had been kidnapped.

Asus ZenFone 5Z Gets Better With Android Q Beta
The Asus Zenfone 6 has a sliding mechanism, as seen in the image, which was utilized in the Mi Mix 3 as well. Now, the company has shared a new teaser of the ZenFone 6 launch that also hints at how it might look like.

Houthis begin pullout from ports in Hodeidah
The British ambassador to Yemen reacted sharply to the Yemeni government's scepticism about Houthi withdrawal. In the second phase, both sides would pull troops 18 km outside the city and heavy weapons 30 km away.

Burned before, US pushes for way to enforce China trade deal
But earlier this year, investors were growing increasingly confident that the two sides would eventually find a deal on trade. Earlier in Asia, Hong Kong's Hang Seng index skidded 2.3% to 28,324.46, while South Korea's Kospi sank 3% to 2,102.01.

U.S. Issues Warning Amid Reports of Ship Sabotage Off UAE
A spokesperson for the US Navy's Bahrain-based Fifth Fleet said they had no comment at this time when contacted by Reuters . The broadcaster continued by saying that the real cause of the incident has still been unknown.

DeSantis signs legislation creating new voucher program that likely draws court challenge
The law also requires schools to establish threat assessment teams made up law enforcement and counselors. The commission delivered a report earlier this year offering recommendations to improve school safety.

The Burr-Trump Jr. subpoena dispute
In February, the committee revealed there was no evidence of collusion between the Trump campaign and Russian Federation . President Trump said he was surprised to see his son subpoenaed.