• About
  • Contact
Friday, July 1, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Two Suitors In Race To Revive Jet Airways By Acquiring It

Pritish raj by Pritish raj
September 4, 2019
in Industries, News
Reading Time: 2 mins read
A A
0
jet airways
  • Jet Airways has two shortlisted bids are by South-America based Synergy Group and Russian Fund Treasury RA Creator. Now, Synergy Group and RA Creator will be invited to submit the resolution proposals.
  • In the same time, another Airline in India has been looking at the crisis for some time now and the government is planning to divest from it. Civil Aviation Minister Hardeep Singh Puri recently said The government has been looking for the privatization of Air India for long and the government is clear about its plan.

Founded by Naresh Goyal, Jet Airways could be inching towards the resolution process as they have shortlisted two suitors to bid for the now non-functional airline. The resolution saw three application among which 2 were selected and they will be invited to submit the resolution proposals. The shortlisted bids are by South-America based Synergy Group and Russian Fund Treasury RA Creator. Now, Synergy Group and RA Creator will be invited to submit the resolution proposals.

Synergy Group already has a major stake in the Columbia based airline Avianca and is interested in investing up to Rs 3,000 crore in the now-defunct Jet Airways. Although, the investment is conditional and will be taken ahead only if lenders of the airline take a large debt haircut, said Antonio Guizzetti one of the advisors to Synergy Aerospace. It is expected that the State Bank of India (SBI) and German Efromovich, Owner of Synergy Group will meet within next week to discuss a business plan.

Jet Airways
Image Source: The National

In the same time, another Airline in India has been looking at the crisis for some time now and the government is planning to divest from it. Civil Aviation Minister Hardeep Singh Puri recently said The government has been looking for the privatization of Air India for long and the government is clear about its plan. He also said that it’s not the government’s business to run airlines and hence Maharaja will be privatized.

Recently, In June Jet Airways Employee Union and UK-based Adi Group announced to jointly bid for acquiring a 75 percent stake in the airline which is facing bankruptcy proceedings.

Jet Airways was grounded on 17th April 2019 and it owes over Rs. 8,200 crore due to financial creditors alone. As per the website, creditors have filed claims worth over Rs 30,000 crore. The airline was dragged to NCLT after months of struggling to get it functional and was admitted to the tribunal on June 20. Meanwhile, the slots of the beleaguered airline have been assigned to other airlines.

The fall of Jet Airways has favored Spicejet and Indigo who have responded by taking most of its slots at all the major airports. Interesting and worrying times lie ahead in the Indian aviation industry with the fall of one of its biggest players.

Tags: Jet Airways BankruptcyJet Airways ClosureJet Airways Operations
Previous Post

MINISO Announces 100 Store Milestone in India

Next Post

OYO Tops The List Of Top 10 Startups To Work For In India:LinkedIn

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

20220630 185323
Cryptocurrency

Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption

June 30, 2022
Metawhale Team
Cryptocurrency

World’s First NFT Museum Launched By Metawhale World

June 30, 2022
WhiteHat Jr Ads- Next Big Brand
News

Byju’s-owned WhiteHat Jr Lays Off 300 Employees

June 29, 2022
Reliance CEO Mukesh Ambani
Industries

Mukesh Ambani Resigns as Director of Reliance Jio, Son Aakash Ambani Named Chairman

June 28, 2022
png 20220628 164551 0000
Cryptocurrency

Cryptoys Raises $23 Million to Mix NFTs, Gaming, and Virtual Toys

June 28, 2022
20220627 152251 0000
News

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
Next Post
Annual OYO Valuation Drop Japan Travelopedia Oyo-Rooms-nextbigbrand.in

OYO Tops The List Of Top 10 Startups To Work For In India:LinkedIn

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple Brands brand story Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding google Indian Crypto Startups Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection NFT India Non Fungible Tokens Ola OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india startups in india Swiggy Tiktok Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad WazirX YouTube Zomato
check more news on that pages youtube converter, filme online 2022, filme porno mature, porno amatoriale, nxnxx.org, https://xvideosxnxx.org, https://xoxporn.net

Instagram

Follow Me!

Recent News

  • Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption
  • World’s First NFT Museum Launched By Metawhale World
  • Byju’s-owned WhiteHat Jr Lays Off 300 Employees

Latest News

20220630 185323

Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption

June 30, 2022
Metawhale Team

World’s First NFT Museum Launched By Metawhale World

June 30, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.