SBI extends date for deadline for stake sale in Jet Airways

Jet Airways receives legal notice over unpaid salaries

Troubled Jet Airways' B777 seized by WFS in Schiphol over unpaid fees

Cash-drought has forced the airline to default on several payment obligations such as to the banks, aircraft lessors and other vendors besides non-payment of March salaries to its 16,00 employees.

Meanwhile, aviation regulator DGCA announced that it de-registered seven Boeing 737-800 aircraft of Jet Airways on Wednesday, allowing its lessors to take the planes out of the country so that it can be leased to any other airlines.

The consortium started a stake sale process on Monday, giving prospective bidders until Friday to submit expressions of interest.

International Olympic Committee and Jet did not immediately respond to a request for comment.

Lenders had in February laid the ground for a new owner in Jet Airways after they managed to force founder-chairman Naresh Goyal and his wife Anita to resign from the Board of the airline and give an undertaking that they would be open to bringing down their stake from 51% to about 9%.

"While all soft copies of the EoIs are required to be submitted by the due date, the hard copies may be submitted by April 14, 2019", the lender said in a set of clarifications issued regarding the bid document.

This has been changed to "restructuring of the existing facilities and infusion of funds by way of loans or acquisition/subscription of up to 75% of equity share capital of the company". Further, the lenders stepped in to make some payment in this regard, the sources said.

Uber files for IPO, discloses $1.8B loss in 2018
Uber , which has previously made public some of its financial results, disclosed further details in its filing. It did report income of $997 million previous year on revenue of $11.3 billion.

At present, the airline owes over Rs 8,000 crore to a consortium of lenders led by the State Bank of India.

An aircraft of debt-ridden Jet Airways was seized by a European cargo firm over non-payment of dues.

The aircraft had been due to depart Schiphol at 11:25am this morning on its way to Mumbai, but the flight had yet to take-off (at the time of publication, 15:30 CEST) because of the aircraft seizure.

Jet, however, said the flight was delayed due to "operational reasons".

The airline has grounded more than three-fourths of its fleet due to non-payment of lessors' rentals and is operating just about 25 planes out of its 123 earlier.

Shares of Jet Airways declined 1.59 per cent to close at Rs 263.40 apiece on the BSE.

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