Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
272
nda:
Needmore seats to Win
Needmore seats to Win
upa:
»
1-min read

Jet Airways Gets Rs 258 Crore Lifeline from Jet Privilege Amid Financial Turbulence

Jet Privilege, which has got millions of members, is majority owned (50.1 per cent rpt 50.1 per cent) by its equity partner Etihad Airways, which also owns 24 per cent in the carrier. The rest of the equity is held by the airline.

PTI

Updated:October 4, 2018, 10:57 PM IST
facebookTwittergoogleskypewhatsapp
Jet Airways Gets Rs 258 Crore Lifeline from Jet Privilege Amid Financial Turbulence
Image for representation.
Loading...
Mumbai: Beleaguered carrier Jet Airways Thursday said that it has received around Rs 258 crore from Jet Privilege, its customer loyalty programme, for advance ticket sale.

The fresh funding comes as a lifeline to the Naresh Goyal-promoted full service carrier, which has been in financial turbulence amid losses, caused by high jet fuel prices, rupee depreciation and inability to raise fares due to cut-throat competition.

The cash cruch has forced the airline to delay salaries to its employees, while the management had taken a major cuts in their remunerations.

Jet Privilege, which has got millions of members, is majority owned (50.1 per cent rpt 50.1 per cent) by its equity partner Etihad Airways, which also owns 24 per cent in the carrier. The rest of the equity is held by the airline.

"Jet Privilege concluded a prepaid ticket purchase agreement for USD 35 million with Jet Airways, under normal course of business," an airline spokesperson told PTI.

The customer loyalty programme regularly purchases these tickets to offer its members against redemption of miles hence this transaction is no different and is done under normal course of business between Jet Airways and Jet Privilege, the spokesperson added.

The Jet counter rallied over 11 per cent to Rs 197.10, still more than 60 below its 52-week high, on the BSE whose benchmark Sensex tanked 800 points.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
ICICI Bank 431.75 5.09
Reliance 1,336.85 0.22
SBI 355.35 3.84
IndusInd Bank 1,648.90 3.14
Larsen 1,544.15 4.61
Company Price Change %Gain
GRUH Finance 313.30 -4.42
Reliance 1,336.80 0.07
Larsen 1,543.65 4.60
SpiceJet 141.55 9.64
SBI 354.60 3.59
Top Gainers
Company Price Change %Gain
ICICI Bank 431.75 5.09
Larsen 1,544.15 4.61
Zee Entertain 376.85 4.55
JSW Steel 288.00 4.37
Bharti Airtel 353.20 4.25
Company Price Change %Gain
ICICI Bank 431.50 5.09
Larsen 1,543.65 4.60
Bharti Airtel 353.30 4.40
Vedanta 163.85 4.20
Tata Motors 182.15 4.09
Top Losers
Company Price Change %Gain
Tech Mahindra 735.85 -1.00
NTPC 129.15 -0.54
TCS 2,048.00 -0.29
HUL 1,749.60 -0.24
HCL Tech 1,065.95 -0.04
Company Price Change %Gain
NTPC 129.20 -0.54
HCL Tech 1,061.65 -0.46
TCS 2,049.65 -0.20
HUL 1,749.20 -0.10

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results