Jobaaj Stories
Airbus SE has won an aircraft order worth $5.5 billion from JET Airways India, which would strengthen Airbus's hold in the Asian aviation market.
It is said that Boeing Co and Embraer SA are also in discussions and no final decision has been taken. Since these are private deliberations, talks have been heard for A320neo jets and A220 planes to be provided by Airbus. Although at sticker prices any transaction would be worth $5 billion, discounts are common in such large purchases.
Bajaj Auto approves buyback worth Rs 25,000 crores, read more.
Jet Airways, which was India's top private airline at one time, got its flying license last month, marking an airline company as the first that has been revived under the nation's new bankruptcy laws. With its transformation into a “new avatar with fresh funding, changed ownership, and new management,” the flying permit served as the right fitting for the airline's operational readiness to come back into the airline business.
“We are in final negotiations with lessors and OEMs for aircraft, and we will announce our aircraft choice and fleet plan once we have made a decision,” Jet Airways said Monday. “We are studying all possibilities to find the one that works best for us.”
Jet Airways, the most successful private airline to date in India, had undergone Insolvency under the Insolvency and Bankruptcy Code (IBC) due to financial troubles in April 2019 as it was unable to finance the loan requirements from any source, including its lenders.
As of 28th June 2022, the shares of Jet Airways closed at Rs. 111.10, up by 4.96%.
-by Gautam
This news piece is brought to you in association with jobaaj.com
