Jet Airways , battling with financial woes, is already under the lens of Sebi and the corporate affairs ministry for various violations, including alleged corporate governance lapses.

Income tax officials inspect books of Jet Airways in Mumbai, Delhi officesThe Income Tax Department on Wednesday swooped down on the premises of Jet Airways in Mumbai and Delhi to carry out an inspection of the books of the crisis-ridden airline for alleged falsification of accounts and siphoning of funds. As many as 50 tax officials are reported to have been pressed into action for the survey operation under Section 133A of the Income Tax Act at the Naresh Goyal-led airline's And...

The tax department is also examining the airline's deal with Godrej Buildcon where Jet is said to have received Rs 1,725 crore as a monetary consideration.

Cash-strapped Jet Airways will stop serving free meals to customers who book flights under its 'economy light' and 'economy deal' options from September 28.

Mallya kept borrowing more and more to keep KFA flying - putting up his shares and other assets as collateral to keep getting loans from banks.

\"Withholding salaries, that too without prior notice, is a serious matter and the management will bear sole responsibility for any repercussions. Not paying the salaries on time would lead to non-cooperation by pilots,\" say Jat Airways pilots.

The airline has chalked out a cost reduction programme of more than Rs 2,000 crore over two years in addition to plans for better inventory management, improving pricing and monetising its well-established 8.5 million member JetPrivilege programme.

Spicejet operates the first biojet fuel flight for the countrySpicejet's flight yesterday between Dehradun and Delhi was special. The flight was powered by a blend of 75% air turbine fuel and 25% biojet fuel. This was a first for the country which is looking for ways to cut down fuel costs.A blend of 25% of bio jet fuel and 75% of aviation turbine fuel (ATF) was carried in one of the two engines of the plane, while the other engine carried only ATF. International standards permit ...

This is the second consecutive quarterly loss for the airline which had posted a profit of Rs 53.50 crore in the same quarter last year. The struggling airline will inject capital and reduce debt to cut its interest costs.

Total income marginally improved to Rs 6,066 crore from Rs 5,953 crore a year ago, the airline said in an exchange filing.

A potential deal could value the loyalty program, Jet Privilege Private Ltd, between $429.1 million to $572.1 million.

Jet Airways chairman Naresh Goyal met aviation secretary RN Choubey on Monday and apprised him of the ongoing crisis.

Facing financial headwinds, Jet Airways is reportedly planning to monetise JetPrivilege, its frequent flyer programme.

Jet Airways, however, claimed that its account with SBI and all other banks is \"standard\" and it has not defaulted on any of its payment obligations.

The Directorate General of Civil Aviation (DGCA) has already evaluated the financial health of the national carrier Air India recently, besides conducting a special audit of Air Deccan, the source close to the development said.

Senior officials at SBI mentioned that the embattled airline is part of its overall watchlist for stressed accounts and special mention category loans as on June 30, 2018. Jet. however, had a different story to tell.

'No' says Jet Airways emphatically. But with mounting losses, negative net worth of Rs 7,100 crore and liabilities well in excess of assets, it may be very, very close.

The airline has delayed its first quarter results announcement after its audit committee didn't recommend it to the board. Hours before the deferment, the chairman of the audit committee - Srinivasan Vishvanathan - had reportedly resigned from his job.

Jet Airways spokesperson said this is not the first instance in corporate India of deferment of quarterly financial results by a company.

The BSE said the disclosure by the company regarding the delay in first quarter results lacked \"certain information\" and Jet Airways should submit complete information that is available with it, for compliance with the requirements of Regulation 30.