Since 2007-08, apart from two profitable years — 2015-16 and 2016-17 — it has consistently lost money (AFP)
Since 2007-08, apart from two profitable years — 2015-16 and 2016-17 — it has consistently lost money (AFP)

Opinion | The cost of flying on flawed assumptions

With compliant lenders as co-pilots, Jet Airways’ descent was a foregone conclusion. The pity is that the inevitable was delayed for so long that much of its market value has been wiped out

Amazon CEO Jeff Bezos (Reuters)
Amazon CEO Jeff Bezos (Reuters)

Amazon plans to close Chinese marketplace business, focus more on India

  • Amazon has plowed billions of dollars into the India business since opening its website there in 2013, building more than 50 warehouses to support the business
  • The company will keep running other businesses in China, including Amazon Web Services, Kindle e-books, and cross-border operations

 (Photos by Abhijit Bhatlekar /Mint)
An employee of Jet Airways is consoled by his colleague during a protest demanding to 'save Jet Airways' in New Delhi. Photo: Reuters
An employee of Jet Airways is consoled by his colleague during a protest demanding to 'save Jet Airways' in New Delhi. Photo: Reuters

'Can't sleep at night': Despair over jobs as Jet Airways grounded

  • Thousands of employees have been stung by the rapid unravelling of Jet Airways
  • Hundreds of angry employees have protested in New Delhi and Mumbai, accusing management of leaving staff in the dark about the airline's crisis

 (Ramesh Pathania/Mint)
If you booked tickets through the official Jet Airways website, mobile application or ticketing offices, all you have to do is fill up the online form. (Reuters)
If you booked tickets through the official Jet Airways website, mobile application or ticketing offices, all you have to do is fill up the online form. (Reuters)

What you should do if you are booked on a Jet Airways flight

  • If you booked tickets through the official Jet Airways website, mobile application or ticketing offices, all you have to do is fill up the online form
  • The Jet Airways website says it will take 7-10 working days for the credit to reflect in your account

Decoding the good, bad and the ugly of Jet Airways crisis

Distressed airline Jet Airways finally halted its entire operations from Wednesday night after failing to get emergency funds from lenders. In a discussion with Mint's Shrija Agrawal, experts discuss what went wrong at Jet Airways and the way forward. According to Jitendra Bhargava, aviation expert and former executive director at Air India, there were enough alarm bells ringing and the promoter-founder Naresh Goyal chose to ignore them. On the other hand, Manish Agarwal posited that airlines sector in India still remains one of the fastest growing and that there will be efficient and inefficient players.

In retail, RIL is expected to see a growth in sales and ebit while margins may remain flat. (Mint)
One of the biggest fallouts of Jet’s collapse is the loss of jobs. (Reuters)
Over 16,000 jobs have vanished overnight as Jet Airways suspended operations on 17 April 2019. (Abhijit Bhatlekar/ Mint)
Over 16,000 jobs have vanished overnight as Jet Airways suspended operations on 17 April 2019. (Abhijit Bhatlekar/ Mint)

Opinion: Jet job crash: Do you have a protocol in place?

The Jet episode needs a sudden job loss protocol to kick in for the employees who have lost their jobs. People in any job, in fact, need to have this protocol in place. Do you?

SpiceJet Chairman Ajay Singh (HT )
Sensex and Nifty have hit multiple highs this month  (Shailesh Andrade/Reuters)
Sensex and Nifty have hit multiple highs this month (Shailesh Andrade/Reuters)

Sensex snaps record run, banks lead decline; Nifty holds 11,750

  • Sensex and Nifty hit new intra-day highs but could not hold on to gains
  • Apart from banking, FMCG and metal stocks also weighed

A stake sale worth $15 billion to Saudi Aramco can knock off about a third of RIL debt. (Mint)
A stake sale worth $15 billion to Saudi Aramco can knock off about a third of RIL debt. (Mint)

For Saudi Aramco, a Reliance deal will not come cheap

  • Saudi Aramco is said to be in serious discussions to buy as much as 25% in the refining and petrochemical business of Reliance
  • A stake sale in the core business, at a desirable valuation, will free up resources for Reliance Jio and Reliance Retail

has a debt burden of more than  ₹8,000 crore (Reuters)
has a debt burden of more than 8,000 crore (Reuters)

DGCA likely to seek credible revival plan from Jet Airways

  • Jet Airways on Wednesday announced temporary suspension of its operations as it did not receive emergency funds to stay afloat
  • Lenders are carrying out the bidding process for a stake sale in the ailing airline

Passengers check the status of their flights at a Jet Airways ticketing counter at the Chhatrapati Shivaji Maharaj International Airport in Mumbai yesterday. (Reuters)
Passengers check the status of their flights at a Jet Airways ticketing counter at the Chhatrapati Shivaji Maharaj International Airport in Mumbai yesterday. (Reuters)

Jet Airways shares tank 34% after temporary shutdown

  • Jet's share touched a low of 158.70 on NSE, down 34.01% from its previous close
  • Rival SpiceJet Ltd surged 8.5% to hit over one-year high levels while InterGlobe Aviation rose 2%

Virtual reality comes in handy at Walmart's training centers. (Bloomberg)
Elections 2019
View All
 (iStock)
The Sensex fell 135.36 points, or 0.34%, to 39,140.28
At its peak, Jet Airways operated over 120 planes and well over 600 daily flights. (Reuters)
At its peak, Jet Airways operated over 120 planes and well over 600 daily flights. (Reuters)

Rivals race to grab airport slots as Jet Airways remain grounded

  • Jet Airways's slots will be allocated to other airlines based on factors including fleet and staff strength
  • Investors punished Jet shares today, driving them down 34% in their biggest intraday fall

Jet Airways has informed the stock exchanges that it will await the share sale process led by SBI. (Abhijit Bhatlekar/Mint)
Jet Airways has informed the stock exchanges that it will await the share sale process led by SBI. (Abhijit Bhatlekar/Mint)

Jet Airways' next destination may be bankruptcy court

  • A bankruptcy court-monitored resolution may take longer than an out-of-court Jet Airways stake sale
  • A bankruptcy process may prove too costly as employees may quit and airport operators may re-assign slots to rivals

Indian FMCG grew 13.6% in the March quarter, at least 2.3 percentage points lower than in the December quarter. (Pradeep Gaur/Mint)
Indian FMCG grew 13.6% in the March quarter, at least 2.3 percentage points lower than in the December quarter. (Pradeep Gaur/Mint)

FMCG no longer fast moving as rural demand fizzles out

  • India's FMCG in 2019 will grow at least two percentage points slower than in the last quarter of 2018, says Nielsen
  • The projected growth of 11-12% for 2019 is a downward revision from Nielsen's previous forecast of 13-14%

Apart from Dhawan and Bhatt the film stars Madhuri Dixit, Aditya Roy Kapur, Sonakshi Sinha and Sanjay Dutt. (IANS)
Apart from Dhawan and Bhatt the film stars Madhuri Dixit, Aditya Roy Kapur, Sonakshi Sinha and Sanjay Dutt. (IANS)

‘Kalank’ records highest opening day of 2019 so far

  • At 21 crore, the film beat 'Kesari', 'Gully Boy' and 'Total Dhamaal' to earn the highest first day numbers of 2019 till now
  • The impressive cast and hype coupled with the massive screen count and the Mahavir Jayanti holiday have contributed to a big total

The strategic alliance between the two companies is focused on leveraging the benefits of both companies -- Ford’s global reach and expertise and Mahindra’s scale and successful operating model in India. (Reuters )
The strategic alliance between the two companies is focused on leveraging the benefits of both companies -- Ford’s global reach and expertise and Mahindra’s scale and successful operating model in India. (Reuters )

Mahindra, Ford to co-develop midsize SUV for India, emerging markets

  • The new midsize SUV will have a common Mahindra product platform and powertrain
  • Under the new agreement, Mahindra and Ford will work together to introduce a benchmark product for India and emerging markets

The deal flow at Mindtree moderated in the three months ended 31 March, with the value of total contracts falling from earlier quarters. (Sarvesh Kumar Sharma/Mint)
The deal flow at Mindtree moderated in the three months ended 31 March, with the value of total contracts falling from earlier quarters. (Sarvesh Kumar Sharma/Mint)

Mindtree matches guidance, but lower orders may weigh on growth

  • Growth in March quarter exceeded Street estimates, underscoring strong execution
  • However order bookings dropped, stoking concerns about the focus of the management

The RBI made a surprise U-turn on monetary policy this year under new Governor Shaktikanta Das after food prices fell. (Reuters)
The RBI made a surprise U-turn on monetary policy this year under new Governor Shaktikanta Das after food prices fell. (Reuters)

RBI inflation goals need to be reviewed, says PM Modi's economic adviser

  • Rathin Roy said the Reserve Bank of India’s inflation target should be relooked at after the elections
  • RBI’s goal is to keep inflation at 4 percent over the medium term

Elections 2019: Will Naveen Patnaik push back Modi juggernaut?

As five of Odisha’s 21 Lok Sabha seats vote today, Naveen Patnaik’s BJD is facing a larger and more aggressive BJP that is determined to wrest the state. Assembly elections to 147 seats are also being held simultaneously with the Lok Sabha polls in four phases till 29 April. Mint meets the key players in Odisha’s electoral battle

Mark to Market
View All
Alamy Photo
Alamy Photo

Chennai vs Centre: Water first, nation next

  • Modi and nationalism may work in rest of India, but in Chennai, water and basic infrastructure matter the most
  • Whether the candidate is a newbie or a veteran, the voter blue or white collar, across Chennai, it is local issues that dominate campaigns and conversations

If the dividend proposal receives approval from shareholders, Mindtree will pay a total dividend of  ₹384.30 crore to the public shareholders (Mint)
If the dividend proposal receives approval from shareholders, Mindtree will pay a total dividend of 384.30 crore to the public shareholders (Mint)

In Mindtree’s record dividend, some see a tactic to ward off L&T takeover

  • Mindtree says the special dividend is a way to celebrate $1 billion in annual revenue and mark the 20th anniversary of the company
  • CEO Rostow Ravanan denies the special dividend is a poison pill manoeuvre, a way to make the takeover costlier for L&T

A minority stake sale could fetch Reliance $10-15 billion, valuing the business at $60 billion, said a report. (Mint)

How much does a house cost in Mumbai?

  • A property price depends on various factors such as location, neighbourhood, quality of construction, amenities and age of building, among others
  • If you are planning to buy a property for self-use, our compilation of property prices of prominent localities in major cities may help you compare and make an informed decision

 (iStock)
Last year, the company came under fire following revelations that Cambridge Analytica obtained personal data of millions of people's Facebook profiles without their consent. (Reuters)
Last year, the company came under fire following revelations that Cambridge Analytica obtained personal data of millions of people's Facebook profiles without their consent. (Reuters)

Facebook unintentionally uploaded email IDs of 1.5 million new users

  • Facebook said the contacts were not shared with anyone and the company is deleting them
  • Facebook has been hit by a number of privacy-related issues, including a glitch that exposed passwords of millions of users

The rupee closed Tuesday at 69.605 per dollar, (Reuters)
The rupee closed Tuesday at 69.605 per dollar, (Reuters)

Rupee is set for a post-election hangover

  • Rupee has shown a tendency to flip directions after polls have been completed, according to a study by Edelweiss Securities Pvt
  • The month of May, when election results are usually announced, has proven to be an unfavorable one for the rupee

 (iStock)
Photo: Mint
 (iStock)
 (iStock)
Jet Airways has over 16,000 employees, including about 1,300 pilots. (Reuters)
Indian men on average were 1cm shorter, while Indian women remained roughly the same height.
Indian men on average were 1cm shorter, while Indian women remained roughly the same height.

Indian children may no longer outgrow parents

Indians are taller than they were a century ago, but the generational growth in height may be tapering off in the country far earlier than in other south-east Asian countries

Hamleys was delisted from the LSE in 2003 and sold for $78.4 million to France’s Groupe Ludendo in 2012. (Reuters)
Hamleys was delisted from the LSE in 2003 and sold for $78.4 million to France’s Groupe Ludendo in 2012. (Reuters)

Reliance Retail in talks to buy toymaker Hamleys

  • Hamleys, a 295-year-old toymaker, has struggled to generate profits in recent times
  • Hamleys reported losses of £12 million in 2017, when it last reported its financials

There are increasing instances of mergers and acquisitions in the Indian renewable energy space. (Pradeep Gaur/Mint)
Allahabad Bank and Andhra Bank hold stakes of 27.04% and 26.02% in ASREC, respectively. (Mint)
Pro-growth policies that have been rolled out since last year have helped drive a turn around in consumer sentiment (Bloomberg)
Pro-growth policies that have been rolled out since last year have helped drive a turn around in consumer sentiment (Bloomberg)

China's economic growth unexpectedly held up in Q1

  • China's GDP rose 6.4% in the first quarter from a year earlier
  • Investment by state-owned firms quickened to 6.7% and slowed for private firms to 6.4%

Indian warships have also offered humanitarian assistance to Mozambique, which was ravaged by Cyclone Idai.
The government has entrusted ICMR to frame guidelines on stem cell therapy.afp
Amazon's Alexa. (Reuters)
Photo: Reuters
Photo: Reuters

Opinion | Uber’s IPO filing affirms a dangerous business model

The game seems to be to wipe out rivals with cheap fares and then raise prices in a mad rush for profitability