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Ever since the country’s skies were opened to private Indian airlines, in a little less than three decades from 1994, at least 27 scheduled airlines have gone out of business or merged with another airline or was acquired.
CCI trashes alleged cartelisation case among domestic airlines The case had emanated upon receipt of a letter from the Lok Sabha secretariat in January 2014 with a request to examine whether there is any evidence of cartelization in the airlines sector PTI | February 23, 2021 | Updated 13:45 IST The Competition Commission of India (CCI) on Monday dismissed a complaint pertaining to alleged cartelization among various domestic airlines. The case had emanated upon receipt of a letter from the Lok Sabha secretariat in January 2014 with a request to examine whether there is any evidence of carte...
NCLT to consider the consortium’s offer tomorrow Lenders to Jet Airways will recover ₹1,183 crore over a five-year period, according to the debt resolution plan submitted by the Kalrock-Jalan combine. Of this, the first tranche, in cash, will be of ₹280 crore after 180 days of the new promoters taking ownership of the beleaguered airline. And, a second cash tranche of ₹195 crore will follow in 730 days. The balance will be paid through a mix of cash, asset sale and from the cash flows generated by the airline every year. In effect, the new owners will acquire controlling stake in Jet...