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(GRAPHIC: Jet Airways’ volatile market value – tmsnrt.rs/2AQyTRt). (GRAPHIC: Jet Airways price performance – tmsnrt.rs/2RFvK0i) cufflinks brands in india. Here’s how Jet has fared. May 3 – Jet shares fall 12.3 percent after InterGlobe Aviation reported a slump in net profit for March-quarter a day earlier. May 23 – Jet posts first quarterly loss in at least 12 quarters, says it has a negative net worth that ‘may create uncertainties’. Aug 1 – Media report says Jet asked employees to take an up to 25 percent cut in salaries as a part of a cost cutting measure..
Aug 3 – Jet denies report that it cannot fly beyond 60 days, and dismisses conjecture of stake sale. Aug 9 – Airline defers board meet for first-quarter results. Aug 11 – After State Bank of India (SBI.NS) chairman says Jet’s loan is on the bank’s watch list, Jet says it is regular in payment obligations to all banks. Aug 13 – Airline reaffirms that it is considering various options to meet its funding requirements. Aug 15 – Report says U.S. private equity firm Blackstone Group LP (BX.N) is in talks to buy a stake in Jet’s frequent-flier loyalty program JetPrivilege cufflinks brands in india.
Aug 20 – Sources tell Reuters that private equity firm TPG Capital is considering investing in Jet, but is not close to finalizing a deal. Aug 27 – Jet posts loss for the June-quarter, says it will inject funds and cut costs by more than 20 billion rupees in two years cufflinks brands in india. Sept 4 – Government plans relief package for airlines. Sept 6 – Jet says it paid salaries to 84 percent of its employees after reports emerge that pilots warned ‘non-cooperation’ over salary default. Sept 20 – Income Tax department conducts survey at Jet’s premises..
• Over two dozen passengers on a Jet flight are treated for minor injuries after the plane loses cabin pressure. Oct 4 – Rating agency ICRA downgrades here the company’s long term loans and NCDs, citing impact of steep increase in jet fuel prices, rupee depreciation, delay in implementation of liquidity initiatives. Oct 18 – Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report “speculative” cufflinks brands in india. Oct 30 – U.S.-based Delta Air Lines Inc (DAL.N) expresses interest to buy Jet stake from promoter Naresh Goyal and Etihad Airways..
Nov 5 – Report says Tata aims to buy the 51 percent stake in the airline owned by Naresh Goyal, and Etihad Airways’ 24 percent stake, and merge Jet with Vistara. Nov 12 – Jet posts third straight quarterly loss, chief executive officer Vinay Dube expresses confidence in overcoming current challenges. Nov 13 – Tata Sons begins due diligence to buy Jet, reports say. • Jet executive says company is in talks with multiple parties for a stake sale in its loyalty program, and equity infusion in the airline cufflinks brands in india.