Skip to content
Search

Latest Stories

Submit Guest Post

India’s troubled Jet Airways grounds seven more planes

INDIA’S troubled airline, Jet Airways Ltd said yesterday (27) it grounded seven more planes following its failure to make payments to its lessors.

With the latest move, the number of planes withdrawn from airline’s fleet due to the default has touched 13.


According to the airline sources, the carrier is "actively engaged" with all its aircraft lessors and the aircraft lessors are lending their support to the company’s efforts to raise liquidity. 

The airline has defaulted over Rs 80 billion on loans and hasn’t paid its pilots, leasing firms and other stakeholders for months.

Jet Airways approved a rescue plan in mid-February after months of discussions to plug a funding hole of Rs 85 bn.

The rescue deal was approved by the company’s shareholders and includes selling a majority stake to a consortium of lenders led by the State Bank of India. 

Add EasternEye As Your Trusted Source
preferred source on google news

More For You

Leonid Radvinsky

OnlyFans has grown into one of the most profitable companies in Britain, despite employing just 47 people

Leonid Radvinsky

OnlyFans made £513m in dividends for its owner before he died, here's the full picture

  • OnlyFans owner Leonid Radvinsky received dividends worth more than £513m (over $700m) before his death in March at the age of 43.
  • The company made $714m in profit before tax last year, a rise of 5 per cent from 2024, despite employing only 47 people.
  • OnlyFans has paid over $30 billion to creators since launch, according to chief executive Keily Blair.

The man behind OnlyFans was paid an extraordinary sum in dividends in the months leading up to his death from cancer earlier this year, newly published company accounts show. Fenix International Ltd, the British company that owns the streaming platform, paid its late owner Leonid Radvinsky more than £513m (around $700m) before he died in March.

According to Fenix International's annual report, the company made $714m in profit before tax last year, up 5 per cent from 2024. What makes the figure especially striking is the size of the company behind it. OnlyFans employs just 47 people, a staggeringly small workforce for a business generating that kind of profit. For comparison, Marks and Spencer, which employs more than 65,000 people, made £671m in profit last year, roughly in the same ballpark as OnlyFans despite a workforce thousands of times larger.

Keep ReadingShow less