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Discussione: Etihad e compagnie aeree nella sua sfera d'influenza

  1. #951
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    Predefinito Re: Etihad e compagnie aeree nella sua sfera d'influenza

    Etihad offers to invest in Jet Airways at 50% discount; stock sinks 7% on news report

    Jet Airways shares plunged more than 7 percent in the morning on January 16 after a media report said shareholder Etihad Airways offered to invest in the company at a price which is nearly half of January 15 closing price.

    Sources told CNBC-TV18 that Etihad Group CEO Tony Douglas has written a letter to SBI Chairman on restructuring of the Indian airline.

    As a part of restructuring, Etihad, which holds 24 percent stake in the Naresh Goyal-led company, said it would invest in Jet only at a price of Rs 150 apiece, which is nearly half of Tuesday's closing price of Rs 294.40.

    "Current situation of Jet Airways is precarious and needs emergency funding. Jet is unable to continue funding operations beyond this week," the report said, adding there is an imminent risk of lessors grounding aircraft.

    In fact, the report further said Jet would require more equity funding than mentioned in the resolution plan. But Etihad would not pledge additional shares to raise debt, it added.

    Jet Airways has now gone through three consecutive quarters, incurring over Rs 1,000 crore in losses in each. Earlier reports suggest the airline's lessors and MRO (maintenance, repair, overhaul) partners are losing patience over non-payment of dues. And its lenders are now wary of a Kingfisher-like situation after Jet Airways defaulted on loan repayments in December.

    Jet Airways owes over Rs 8,000 crore to SBI-led consortium and its account is currently in SMA-0 category.

    According to the report, Etihad Airways now wants operation control over its Indian partner, and that can only happen once Goyal lets go.

    Hence, Etihad—a critical player in the whole deal—wants exemption from SEBI on preferential pricing and open offer guidelines. the report said the company is in touch with SEBI on exemption and wants written permission from the market regulator on the same.

    Douglas also wants SBI to speak to aviation ministry on exemption, the report added.

    Currently, as per rule, foreign airline company cannot have more than 49 percent stake in an Indian airline company.

    Sources said in a letter to SEBI, Etihad CEO further said the debt to Naresh Goyal (who holds 51 percent stake in Jet) and related parties should not be converted to equity and bankers should insist on a moratorium on debt taken from Goyal

    "Goyal's role should be well defined and no board seat for Goyal himself. Goyal and family should not be allowed to act on behalf of Jet Airways," the report said, adding Etihad wants 9-member board with only two representatives from Goyal & lenders.

    According to the report, Goyal and related parties stake to be restricted to 22 percent. "Etihad will not control board or management, in-line with Indian rules"

    Earlier this month, sources had also said that according to resolution plan, promoter Naresh Goyal is likely to step down from the board giving up majority control and his stake in the airline may be down to 20-25 percent with voting rights capped at 10 percent after the restructuring. "His son Nivaan Goyal may replace him on the board."

    Etihad won't be able to persuade HSBC and Mashreq to lend more. Hence, Indian lenders have to bring in required funding, the report said.

    Etihad had invested Rs 2,069 crore in Jet Airways in 2013 for a 24 percent stake. Jet's share price is trading 60 percent lower from the Rs 750-level last seen in 2013.

    At 0950 hours IST, the stock was quoting at Rs 274.40, down Rs 20, or 6.79 percent on the BSE

    Moneycontrol

  2. #952

    Predefinito Re: Etihad e compagnie aeree nella sua sfera d'influenza

    Sembra che EY sia in procinto di sforbiciare pesantemente i propri ordini. La situazione non è chiarissima, perchè nel sito non ho trovato il comunicato ufficiale cui fa riferimento Ainonline. Comunque sembra che nei prossimi anni la compagnia prenderà in consegna solo 5 A351 e 6 B779. Pare che EY abbia annullato ordini per 40 A359, 2 A351 (ne resterebbero in ordine 20) e 19 B777x. Sembrano confermati i 26 A321neo, mentre l'ordine per 43 787 potrebbe essere soggetto a revisione.
    A breve la situazione dovrebbe essere più chiara. Comunque siamo di fronte ad una inedita (quanto prevedibile) ecatombe.

    https://www.ainonline.com/aviation-n...idebody-orders

    https://www.flightglobal.com/news/ar...-a350s-455759/

    https://www.aero.de/news-30960/Etiha...Auftraege.html
    Ciao

  3. #953
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    Predefinito Re: Etihad e compagnie aeree nella sua sfera d'influenza

    Da mail aziendale si hanno info molto simili a quelle da te postate comunque a breve uscirà un comunicato ufficiale riguardo il piano flotta. Resto dell’idea che ordinare gli A350 non ebbe alcun senso quando già il 787 può fare tutto egregiamente.
    "Prepare doors for departure"

  4. #954
    Moderatore L'avatar di FlyKing
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    Predefinito Re: Etihad e compagnie aeree nella sua sfera d'influenza

    La situazione di Jet Airways sembra sempre più critica

    Lessors doubt Jet Airways rescue plan, pull out more planes: sources

    SINGAPORE/BENGALURU (Reuters) - International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as scepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources familiar with the matter said.

    The troubles at India's Jet, which is saddled with a billion dollars in debt, have rekindled memories of Kingfisher Airlines' collapse in 2012 that forced lessors to write off millions of dollars. Jet has defaulted on loans and has not paid pilots, leasing firms and suppliers for months.

    "There's some talk that the money is going to come but lessors have heard this for too long," one leasing source said on condition of anonymity due to the sensitivity of the matter.

    "We are not convinced with the restructuring plan. This is panning out just like Kingfisher. Banks took control but they never wanted to take a majority stake and run the airline."

    Nine of Jet's planes have been grounded by lessors, versus the four it reported last month, with AerCap Holdings NV and BOC Aviation Ltd among those who have pulled out planes, sources told Reuters.

    Cross-checks of the Jet fleet by Reuters on FlightRadar24 also show that nine of its planes have stopped flying over the last four weeks. That excludes two more that are at Singapore's Seletar Airport for, according to sources, maintenance work.

    Jet, however, said on Thursday that five planes had been grounded due to non-payment of dues to lessors, as reported to regulators. The carrier added it was keeping its lessors informed about efforts to improve its financial situation.

    BOC Aviation and AerCap declined to comment.

    "We are waiting to see what the workout plan has in terms of us getting paid. The situation is very dicey," an executive at another lessor said. "We have to make sure our assets are protected. Indian government and speedy resolutions are not words we normally use in the same sentence."

    Jet, after months of crisis-talks to plug a 85 billion rupee ($1.2 billion) funding hole, agreed a draft plan last week to sell a majority stake to a consortium led by the State Bank of India at 1 rupee, under regulations that permit banks to convert debt to equity in a defaulting firm.

    The stake sale will be followed by an equity raising, debt restructuring and the sale and leaseback of jets, but the plan needs approvals from several stakeholders.

    Jet shareholders will vote later on Thursday to provide general approvals for a debt-to-equity swap.

    The airline has posted losses for four quarters, battered by high fuel prices and a weak currency. Its shares plunged 67 percent in 2018, wiping out $1 billion from its value and making it the second-worst performer among airline stocks globally.

    BOEING OPTIMISM

    Jet has a fleet of about 123 mainly Boeing planes, including 16-owned aircraft. The rest are leased from many lessors including GE Capital Aviation Services, U.S.-based BBAM and Japan's SMBC Aviation Capital, sources said, underscoring the need to get lessors on board with the bailout plan.

    Jet's management team, however, was unable to provide a timeline for the receipt of approvals and funds under the bailout plan on a call with analysts last week.

    But a senior Boeing executive struck a positive note, saying "once lessors see the money come into their pockets, that's when the edginess will go away".

    "Right now they are only seeing all this paperwork ... it will take three months for things to settle," Dinesh Keskar, senior vice president for Asia Pacific and India sales at Boeing Commercial Airplanes, said.

    Keskar said Jet's lessors were taking deliveries of new Boeing 737 MAX planes but that they had held back 4-5 of the jets in Seattle pending payment from the Indian carrier.

    The Boeing executive, however, was optimistic that the situation would stabilize in the near term.

    "The government is interested in making sure that another airline doesn't go away and another debacle doesn't happen in a very high-growth country," Keskar said on the sidelines of the Aero India airshow in Bengaluru.
    Chiediti se quello che stai facendo oggi, ti avvicina al luogo dove vorresti essere domani.

  5. #955
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    Predefinito Re: Etihad e compagnie aeree nella sua sfera d'influenza

    Altri 5 aerei Jet Airways messi a terra per default sui pagamenti del leasing. Siamo ormai ad un totale di 37 aerei messi a terra.

    Another five aircraft grounded at Jet Airways over lease defaults

    Cash-strapped Indian carrier Jet Airways has disclosed a further five aircraft have been grounded after defaulting on more lease payments.
    It takes to 37 the number of aircraft the airline has now said have been grounded owing to defaults on lease payments, following its latest disclosure to the Mumbai stock exchange on 13 March.
    The carrier has since the start of February periodically confirmed to the stock market the grounding of aircraft due to non-payment of lease fees as the carrier's liquidity problems have mounted. Most recently it on 12 March disclosed four aircraft had been grounded for the same reason.
    Jet has not identified the aircraft covered by the groundings. The airline has a fleet in excess of 100 aircraft, which includes 81 Boeing 737s. The fleet also comprises Boeing 777s, Airbus A330s and ATR 72s.
    Cirum's Fleets Analyzer indicates the carrier has around 70 aircraft are in active service with Jet and 50 in storage. This is likely to include a number of aircraft grounded for operational reasons, end-of-lease maintenance and some that have not yet been delivered to the carrier.
    Jet reiterates it is "actively engaged with all its aircraft lessors" and regularly provides them with updates on the efforts undertaken by the company to improve its liquidity.
    The embattled carrier is working through a bank-led resolution plan, which aims to cover a Rs85 billion funding gap through a series of new debt, equity, aircraft sales and a debt-for-equity swap with a consortium of banks and other lenders. FG


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