Jet Airways share slump after debt payment failure
Shares in India's second-largest airline Jet Airways fell five percent Wednesday after the company admitted it had failed to meet debt payments to banks.The airline hit turbulence last year after failing to report its quarterly earnings or pay its staffers including pilots in August.Subsequently, chief executive Vinay Dube released the earnings and announced a cost cutting programme amounting to 20 billion rupees ($280 million) over the next two years."Payment of interest and principal installment due to the consortium of Indian Banks on 31st December 2018 has been delayed due (...)
You still have
of the article to read
Access to the entire article is reserved for our subscribers who have subscribed an annual subscription formula, or holders of a wallet (credits).
06 JUN 2019 BARFIELD, a subsidiary of AFI KLM E&M in the Americas recently signed an agreement with ARABCAL (Arabian Calibration & Devices Repairing) to provide repair and calibration services for a wide range of GSTE products to accommodate its growing customer base in the Middle East.
06 JUN 2019 AFI KLM E&M announced that WESTJET has signed a line maintenance support contract with KLM UK ENGINEERING for its Boeing 737 service to Glasgow. This contract is effective since April. The Canadian airline had recently signed a Letter of Intent (LOI) with AFI KLM E&M to support its GEnx engines (Boeing 787).
23 MAY 2019 MASWINGS, a regional subsidiary of Malaysia Airlines, has selected AFI KLM E&M for the component support of its fleet of ten ATR72-500s. Repairs will be provided by SINGAPORE COMPONENT SOLUTIONS (SCS), the new shop of AFI KLM E&M in partnership with Sabena Technics.
17 APR 2019 S7 TECHNICS has become the MRO provider in Russia and the CIS to perform base maintenance checks on the Airbus A320NEO. The aircraft is operated by S7 Airlines and is powered by two Pratt & Whitney's PW1127 engines. The maintenance work was conducted at the company's Moscow Domodedovo airport site and included the 7500 FH / 5000 FC / 24-month 1С-check.
15 APR 2019 AFI KLM E&M has entered into an exclusive maintenance agreement with VIVA AIR GROUP that includes the support of airframe components and logistical services. The implementation of this contract with the low-cost airline based in Colombia and Peru will be provided by BARFIELD, a subsidiary of AFI KLM E&M based in Miami (Florida).
ALERTAVIA, the News platform for Aerospace and Defense industry Professionals.