In the video shared by the Abu Dhabi Police, speeding cars are seen crashing into vehicles as traffic builds up unexpectedly
Jet Airways, saddled with debts of about $1.14 billion, has been hit by fierce competition, rupee depreciation and high oil prices. The company owes money to banks, pilots, vendors and lessors - some of whom are considering taking back aircraft, sources have told Reuters.
The airline will seek a green light from shareholders to convert part or all of its loans into equity at a special meeting on February 21, subject to regulatory approval. It will also seek permission to convert future loans into equity, the airline said in a regulatory filing.
Jet, which controls a sixth of India's booming aviation market, will also seek approval to issue new equity and allow its lenders to nominate directors to its board, it said. The airline plans to increase its share capital to ?22 billion ($309.43 million) from ?2 billion.
Jet shareholder Etihad Airways met with the Indian carrier and State Bank of India earlier in January to secure some form of rescue deal, Reuters reported.
Jet has said it is talking to lenders to resolve its debt problems and is looking at injecting more cash into the airline and making boardroom changes. - Reuters
In the video shared by the Abu Dhabi Police, speeding cars are seen crashing into vehicles as traffic builds up unexpectedly
With an impressive portfolio of projects, Al Bateen offers a vast range of high-quality fasteners across industries
Israel's military campaign against Hamas has reduced much of the territory of 2.3 million people to a wasteland with most civilians homeless
The event caters to diverse interests, including medicine and emerging career paths
Organised by Ameeraga Tamil Sangam, the event had participants from across the UAE
The esteemed initiative delivered essential grocery food baskets to around 5,000 deserving families across 14 Bangladeshi districts
Judges for the AI awards not only recognise excellence and innovation, but also assess performance and monitor progress in artificial intelligence computing and responses
A plea moved in court stated that no one is permitted to wear the official state institution outfit