India’s Struggling Jet Airways Flags Bailout Options
Prime Minister Narendra Modi has kicked off his re-election campaign.
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Tata Group had said in November that it held “preliminary” talks with Jet Airways though no proposal was made.
GAIL India Ltd. and Solar Energy Corporation of India have also submitted expression of interest to buy the assets.
The Naresh Goyal-led airline is in talks to defer or reduce payments to vendors including aircraft lessors among others.
Jet Airways Misses Payment to Lenders, Rating Cut to Default
India’s Serious Fraud Investigation Office is probing alleged diversion and siphoning of funds from IL&FS.
The company has offered to pay banks 52 percent of the obligations of its project in Amravati.
Indian banks seek an easing of rules related to bad loan recognition from the newly-appointed RBI Governor Shaktikanta Das
India’s massive pile of bad business debt has kept asset-reconstruction companies busy in recent years.
RCom has told Supreme Court that its asset sale to Reliance Jio may not go through if approvals aren’t in place by mid-December.
Ajay Piramal’s finance group is firming up plans to raise sufficient capital through external commercial borrowings, bond markets.
IL&FS group has missed more than Rs 400 crore in debt payments since the government said on Oct. 1 that more defaults won’t happen
Lakshmi Mittal’s Arcelor was chosen as preferred bidder for Essar Steel after going through multiple rounds of bidding for asset.
Airline also studying laying off more employees in non-core areas.
The financiers must repay about 1.2 trillion rupees of commercial paper in October-December period.
Creditors of Bhushan Power & Steel are poised to name JSW Steel as the preferred bidder in a sale.
Understanding IL&FS and India's Move to Seize Control
IL&FS’ cash crunch may spill over into the wider infrastructure industry and impede the policies and plans of PM Narendra Modi.
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