Skip to content
Search

Latest Stories

Jet Airways pilots threaten strike amid more flight cancellations

INDIA'S beleaguered Jet Airways was staring at a fresh crisis on Sunday (14) as hundreds of pilots and other top staff threatened to go on strike over unpaid salaries.

The airline, which has debts of more than $1 billion, also cancelled more international flights to Europe and North America for the upcoming week.


More than 1,100 pilots, engineers and ground managers will decide Monday whether to go on strike to demand salaries which have not been paid since January, an official from the National Aviator's Guild union told AFP.

On Saturday several hundred staff staged a protest at Delhi international airport demanding to be paid.

A Jet spokesperson declined to comment on the proposed strike.

Jet has "suspended" all flights to South and Southeast Asian nations as well as services from Chennai to Paris and Toronto, it said in a statement.

Flights to and from London and Amsterdam would be "cancelled" until at least Tuesday, according to the statement, quoted by the Press Trust of India news agency.

Jet has also stopped taking reservations for many international flights, in some cases up to June 10. It called this a "pro-active measure" after recent cancellations.

Hundreds of flights have been cancelled in recent weeks after the company failed to pay leasing fees and creditors ordered its planes grounded.

Jet's fleet has been cut from 120 in January to just seven planes.

The government held a crisis meeting Friday, which was the deadline for prospective bidders to express an interest in acquiring a 75 percent stake in the beleaguered airline.

Etihad Airways, which already has 24 percent, submitted an expression of interest to buy up to 75 percent, according to media reports.

Naresh Goyal, who founded the airline but quit as chairman last month, has also lodged a bid, as have some private equity groups, newspapers said.

State Bank of India, which heads a lenders' consortium now in charge of the airline, has given Jet until Monday to submit an operations plan before it considers a $145 million cash injection.

More For You

UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less
Rosneft in early talks to sell India refinery stake to Reliance

Reliance Industries chairman Mukesh Ambani (Photo: Getty Images)

Rosneft in early talks to sell India refinery stake to Reliance

RUSSIAN oil major PJSC Rosneft Oil Company is in early discussions with Reliance Industries to sell its 49.13 per cent stake in Nayara Energy, an Indian energy company that operates a 20-million-tonnes-per-year oil refinery and 6,750 petrol pumps, sources familiar with the matter said.

The deal, if finalised, would see Reliance overtake state-owned Indian Oil Corporation (IOC) to become India’s largest oil refiner. It would also provide Reliance with a significant expansion in fuel retailing, where it currently holds a relatively small presence.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less
Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less