The loss of aircraft and friction with lessors is just the latest major setback for Jet, which has been struggling for years, beset by an insurgent group of low-cost Indian competitors

There is every likelihood of new bidders or investors beating down the price or the valuation of the troubled airline, which has grounded most of its planes. At last count, it had only 20 planes in its operational fleet as compared to 120 in good times.

Jet's lenders said they plan to seek expressions of interest in the airline from potential investors from April 6 and that all submissions from interested parties are expected to be completed by April 9

The bidding process for stake sale in the cash-starved Jet Airways is likely to commence from Monday as the bid document is still to be given a final shape

The secretary said that airlines have to comply with the \"0/20 rule for international operations\". He also said that since Jet Airways has 26 aircraft in its fleet currently, question of \"examining Jet Airways\" on \"0/20 rule does not arise\".

Naresh Goyal, who along with his wife Anita Goyal, stepped down from the board of Jet Airways, said he has agreed to every term and condition laid down by lenders to ensure timely release of funds for the airline.

Indian aviation watchdog DGCA has approved the summer schedule of flights of Jet Airways from March 31 to April 25 only, according to an official document

Goyal and his wife have stepped down from Jet Airways' board under a resolution plan piloted by its lenders.

The consortium of banks, led by SBI, may invoke the entire 51 per cent stake of Naresh Goyal in the airline. Following this, the lenders will start looking for a new buyer in the coming weeks.

Jet Airways, which has a debt of a billion dollars, has failed to pay lenders and aircraft lessors and has grounded one third of its fleet.

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It is offering jobs to pilots of Jet Airways along with compensation for overdue salaries from the cash-strapped full service airline, IndiGo said on March 12.

SBI has asked Naresh Goyal along with his wife Anita Goyal, Executive Director Gaurang Shetty and Independent Director Nasim Zaidi to step down from Jet board as part of bank-led resolution plan.

Cash-strapped Jet Airways Monday said it has grounded four more planes, taking the number of aircraft that are non-operational due to non-payment of lease rentals to 41.

Cash-strapped Jet Airways Monday said it has grounded four more planes, taking the number of aircraft that are non-operational due to non-payment of lease rentals to 41.