Jet Air slips to 4th place on cash woes
SpiceJet, Air India Fly Ahead In February

TIMES NEWS NETWORK

New Delhi:21.03.2019

From being the second largest domestic airline for years, Jet Airways officially slipped to the fourth slot in February due to its cash problems, with SpiceJet and Air India overtaking it, data released by Directorate General of Civil Aviation (DGCA) on Wednesday showed.

Now, one in nine Indian passengers flies Jet that ruled the skies until private sector rival Indigo and the now defunct Kingfisher appeared on the scene in 2005-06. At its peak, it accounted for lion’s share of the domestic market with founder and chairman Naresh Goyal being the king of the aviation sector. But his inability to bring money on the table has resulted in a steep descent of Jet in the aviation sweepstakes.

With bank accounts running empty, Jet’s fleet is now down to 41 from 119 as unpaid aircraft lessors started repossessing their planes. With the fleet size expected to drop to 35 in next few days, market players expect the airline to close the financial year with a single digit market share. “Lessors (because of dues) are giving 72-hour notices to Jet for grounding planes. The flight schedule for the airline is now being cleared on a daily basis,” said a source.

Airlines with lower domestic market share in February — GoAir and Vistara — have firm orders for planes and AirAsia India is also expected to do the same. Jet, on the other hand, faces an uncertain future.

While IndiGo became the domestic market leader by a huge margin, Jet in last few years — especially after its tie-up with Etihad in 2013 — focused on international expansion. The Jet-Etihad combine was the market leader in terms of flying people in and out of India. But Jet’s financial crunch since February has led to grounding of both narrow and wide body planes, impacting its international traffic too.

The government is now looking at giving Jet’s unutilised slots to other airlines, which have been asked to add up to 25 planes by next month to tide over the sudden crunch caused by Jet. “Airlines will also try to utilise their aircraft more to avoid inconvenience to passengers,” aviation secretary P S Kharola said on Wednesday. The DGCA is finalising summer schedule, which will be effective monthend, without considering the schedule given by Jet.

11 months on, Nirmala Devi walks out of Madurai prison

TIMES NEWS NETWORK

Madurai:21.03.2019

Tainted assistant professor of Devanga Arts College in Aruppukkottai, Nirmala Devi, on Wednesday walked out of Madurai Central Prison after 11 months.

She was arrested in April 2018 for allegedly luring girl students to extend sexual favours to unnamed higher officials of Madurai Kamaraj University. An audio tape of the alleged incident went viral on social media and led to her arrest.

While a case was initially registered with the Aruppukkottai Town police, it was soon transferred to CB-CID. Nirmala Devi was suspended by the Devanga Arts College following her arrest.

The Madurai bench of the Madras High court granted bail to Nirmala Devi on March 12.

However, she could not immediately come out as even her close relatives hesitated to come forward to give surety.

Nirmala Devi’s counsel S Pasumpon Pandian alleged that it was due to pressure by officials of the CB-CID to prevent her from coming out of prison.

With necessary procedures completed, Nirmala Devi walked out of the prison around noon. She refrained from talking to media representatives as per the bail conditions.

However, speaking to the media, Pasumpon Pandian said that the case had been falsely foisted on Nirmala Devi and that they would deal with it legally.

Pasumpon Pandian said that there was pressure from many quarters, including political circles, against her release on bail. Nirmala Devi will cooperate with the police till the end of the case, he said.

The Madurai bench of the Madras high court has given bail to her based on humanitarian grounds since even murder accused are coming out on bail in 60 days. In her case, it took 11months to secure bail, he said.

TEMPORARY RESPITE:Nirmala Devi coming out of Madurai central prison on Wednesday

Paris, Singapore and Hong Kong tie for world’s most expensive city

Times of India  20.03.2019
Move over Singapore — the world’s most expensive city has two new rivals. After topping the Economist Intelligence Unit’s ‘Worldwide Cost of Living Survey’ for five years, Asia’s Lion City has been joined by Paris and Hong Kong in a tie at the top of the table. It is the first time in the survey’s 30-year history that three cities have shared the top spot.

The annual index compares prices of everyday items in 133 cities around the world, including recreation, education and utility bills. According to the survey, a woman’s haircut in Singapore, Paris and Hong Kong costs $96.01, $119.04 and $112.10 respectively. While parts of Asia remain the most expensive places, the continent also makes several appearances at the bottom of the list. “Bengaluru, Chennai, New Delhi and Karachi feature among the 10 cheapest locations,” the EIU said. AGENCIES

Cash-for-vote menace big challenge for election officials

ManuAiyappa.Kanathanda@timesgroup.com

Bengaluru:20.03.2019

Many candidates evidently feel every vote has a price tag depending on the constituency, community and ferocity of the electoral battle: With less than a month to go for the Lok Sabha polls in Karnataka, the cash-for-vote menace is getting bigger even as it goes under the radar.

According to statistics provided by the chief electoral officer, poll-related seizures in cash, liquor, jewellery and other items have already crossed Rs 18 crore — an alarming figure given that the election process is just picking up and total seizures in the 2014 Lok Sabha elections amounted to Rs 28 crore.

With the announcement of the poll schedule on March 10, police began conducting random inspections of vehicles at checkpoints and offices across the state with the help of the income tax department and excise officials.

The checks were supposed to start only from Tuesday, after the issue of election notification. Not surprisingly, the police have so far recovered Rs 3 crore in cash alone.

Though the Election Commission has fixed an upper limit of Rs 70 lakh on the expenditure of a candidate in the parliamentary elections, various reports indicate that some candidates are prepared to spend in excess of Rs 10 crore, particularly in constituencies where the electorate is small contest close. The price per vote reportedly ranged between Rs 500 and Rs 2,000 in the 2018 assembly election.

According to sources, Bengaluru North, Bengaluru Central, Mandya, Hassan, Kolar, Chikkaballapura, Tumakuru, Chitradurga, Ballari, Davanagere, Kalaburagi, Bidar, Raichur, Bengaluru Rural, Koppal, Haveri and Chikkodi are constituencies where candidates will have to spend Rs 10 crore or more.

Sources said targeted vote buying — candidates distributing money and liquor directly to voters on the eve of polling day — is no longer prevalent.

Now it is all “mass vote buying” in which contestants target clusters of voters in social and religious organisations, Dalit colonies, slums, minority groups, labourers and self-help groups, the sources said.

Most of the money is distributed well ahead of filing of nominations.

“We have to give organisations or leaders of communities Rs 10 lakh to Rs 25 lakh for their support,” a Congress MP said. A BJP MP said he spent about Rs 2 crore to corner the support of four crucial organisations in his constituency. He distributed the money to voters in the presence of leaders of all castes who pledged their votes in front of a local temple.Contestants spend smaller amounts of money on individual voters only a couple of days before polling.

An election commission official said candidates are distributing money to voters via digital wallets. There are other types of innovations. “In last year’s bypoll in Ballari, voters were each given a Rs 50 note with a particular marker. After voting, they could exchange the Rs 50 note for Rs 2,000,” the official said.

Though the EC has fixed an upper limit of Rs 70 lakh on expenditure of a candidate in Lok Sabha elections, reports indicate that some candidates are prepared to spend in excess of Rs 10 crore, particularly in constituencies where the contest is close.

High court issues notice to law univ vice-chancellor

TIMES NEWS NETWORK

Chennai:20.03.2019

The Madras high court on Tuesday ordered notice to the vice-chancellor of Tamil Nadu Dr Ambedkar Law University Tamma Suryanarayana Sastry on a plea seeking direction to show under what authority he is holding the post.

Justice S M Subramaniam passed the interim order on the plea moved by advocate M K Gauthaman, a resident of Tiruvannamalai.

According to the petitioner, Sastry has usurped the office, as he does not fulfil the requisite qualifications as per his appointment. The university is established under the Tamil Nadu Dr Ambedkar Law University Act, 1996.

“The objective, as apparent from the act, is to impart quality legal education and, in that context, a vice-chancellor is a pivotal person. Such a situation is distinguishable from a multi-discipline university, where the vice-chancellor can be of any of the disciplines. Thus, a vice-chancellor of the law university must be possessed of sufficient attributes of law and legal education to make him entitled for appointment to the post,” the petitioner said.

Sastry, during his course of teaching in Pondicherry University from November 1, 1988, to March 14, 2006, never made any substantial contribution in law or any course of law that makes him eligible for the post, he alleged.

“The university being exclusively for law, the rules of legal education laid down by the Bar Council of India would be applicable, more specifically Rule 16, which says that there shall be a principal for each constituent or affiliated centre of legal education of a university and a dean for the university department, who shall have minimum prescribed qualification in law as prescribed by the UGC for respective position or a professor of law to hold deanship, as the case may be,” the petitioner pointed out.

The VC of a law university must be possessed of sufficient attributes of law and legal education to make him entitled for appointment to the post

M K Gauthaman

Stanley hosp marks World Kidney Day

TIMES NEWS NETWORK

Chennai:20.03.2019

Five days after World Kidney Day, doctors at Stanley Medical College and Hospital decided to go ahead with an awareness programme on the hospital campus to spread awareness.

Doctors, nurses, students and staff took out a procession on campus with various posters on diseases, causes and prevention. Worldwide, 850 million people are estimated to have kidney diseases from various causes. Chronic kidney diseases (CKD) cause at least 2.4 million deaths a year and are now the sixth fastest growing cause of death.

“Tamil Nadu has a large number of patients who suffer from end stage renal failure,” said hospital dean Dr Ponnambala Namasivayam. “Regular control of blood sugar, blood pressure, active lifestyle, healthy food habits help prevent renal failures. In addition people should stop smoking and avoid taking over-thecounter medicines,” he said.

The hospital started the nephrology department in 1984 offering free care and services to poor people. Besides, outpatient services cater to more than 200 patients on weekdays. Wednesdays are reserved for reviews and follow-up of renal transplant patients.

In-patient services are provided round-the-clock to around 40 patients affected by various kidney ailments. Besides haemodialysis, continuous ambulatory peritoneal dialysis services are also being provided to patients. The hospital has so far done 828 transplants have been performed.

Won’t fly from April 1 if not paid dues: Jet pilots

Saurabh.Sinha@timesgroup.com

New Delhi:20.03.2019

Troubled airline Jet Airways is now not even a pale shadow of its former self. The airline, which was a few weeks ago had 119 aircraft, is now flying only 41 of them. This number may have further nosedived as Jet late on Tuesday night informed Bombay Stock Exchange (BSE) that it has grounded six more planes due to non-payment of rentals. As a result, the airline is currently scheduled to operate about 140 flights a day — a far cry from the figure of 600 till a few months ago.

In Mumbai, the airline’s pilots union met on Tuesday and decided not to fly from April 1 unless their salary dues of the last three months were cleared or at least a letter of intent was signed for clearing dues by March 31. “About 300 pilots will do a silent march at the airline’s Mumbai HQ at Siroya,” said a senior pilot.

Meanwhile, Jet founder Naresh Goyal is now trying to get investment from others like Qatar Airways after Etihad reportedly refused to pump in money.

Lenders to tell Goyal to pledge shares

Lenders may ask Jet founder Naresh Goyal to pledge his entire promoter shareholding in the airline in order to raise capital for infusion into the airline. As a precondition to releasing additional funds and converting debt into equity under a restructuring plan, banks have asked the airline’s promoters to bring in at least ₹750 crore. P 14

Jet has only 41 aircraft available for flying, more attrition likely: DGCA

Tuesday started on a bad note for Jet with its engineers writing to the DGCA about safety fears of the airline’s aircraft, a charge they withdrew later in the day. Soon after the complaint, aviation minister Suresh Prabhu directed aviation authorities “to hold an emergency meeting on grounding of flights by Jet, advance bookings, cancellation, refunds and safety issues, if any.” The minister’s directive came as Jet had been cancelling an increasing number of flights in the past few days at the last minute due to non-availability of resources, including aircraft. And many passengers had complained about not getting refunds on time.

The DGCA had a detailed meeting with Jet officials. “We reviewed the performance of Jet on operational, airworthiness and passenger facilitation. Current availability of aircraft in the fleet for operation is 41 and accordingly a schedule for 603 domestic flights and 382 international flights per week has been drawn. However, it is a dynamic situation and there may be further attrition in coming weeks,” a senior DGCA official said.

In winter 2016-17, Jet had 3,517 weekly domestic flights and in the current winter 2018-19 schedule, the figure is down to just 603, a drop by 83%. Before the crisis hit Jet, it used to operate 4,200 flight (domestic and international combined) weekly or 600 daily flight. The combined flight schedule is now down by 76.5%.

The DGCA has asked Jet to comply with all relevant rules on timely communication (about flight delays or cancellations), compensation, refunds and providing alternate flights wherever applicable. “We are ensuring that all aircraft in the fleet whether in operation or on ground are maintained… Jet has been directed to ensure that no pilots/cabin crew/aircraft maintenance engineer be rostered on duty who had reported stress of any nature,” the DGCA official said, adding the regulator says it is “continuously monitoring overall situation and will take appropriate steps by the end of the month if needed”.

Though Suresh Prabhu has asked DGCA to ensure the safety of Jet planes and the airline avoid last-minute cancellation or change in schedule to minimise passenger inconvenience, grounding of more aircraft may only worsen the situation unless the airline gets some funds quickly. “DGCA must ensure that affected passengers are duly adjusted or get refund as per relevant regulations,” said an official.

The DGCA-Jet meeting came after the airline engineers on Tuesday morning raised a question mark on the safety of the planes being flown by the cash-strapped airline. Jet Aircraft Maintenance Engineers Welfare Association’s (JAMEWA) Amit Kelkar wrote a letter saying: “…to apprise you of the precarious conditions with respect to flight safety for general public at large. Engineers who inspect, troubleshoot and certify the public transport aircraft for airworthiness are in tremendous stress due to non-payment of salaries… As of now, three months' salaries are overdue to us, arduous to meet financial requirements, which have adversely affected psychological condition of aircraft engineers at work and therefore the safety of airplanes flown by Jet across India and the world is at risk.”

Later in the day, the association retracted this complaint in another letter to the DGCA saying: “We assure you and public that Jet planes are safe to fly and being maintained at the highest levels of safety standards for the last 25 years. We have an impressive technical dispatch reliability of 99.5%, one of the highest in the industry.”

Pledge entire shareholding to raise capital for infusion into airline, lenders may tell Goyal
Mumbai:

Lenders may ask Naresh Goyal to pledge his entire promoter shareholding in Jet Airways in order to raise capital for infusion into the airline. As a precondition to releasing additional funds and converting debt into equity under a restructuring plan banks have asked the airline’s promoters to bring in at least Rs 750 crore. Getting Goyal to pledge shares is the new line of thinking among lenders after Etihad refused to step in as promoter. The Abu Dhabi-based airline has expressed willingness to sell its 24% stake in the airline at a marked down price of ₹150.

Goyal family has a 52% stake in Jet Airways. At the current market price of ₹229, the airline has a market capitalisation of ₹2,600 crore. Even considering a marked down price of ₹150, the airline would be valued at around ₹1,700 crore. Once the promoter brings in ₹750 crore, lenders led by SBI and PNB will convert some of the outstanding debt to equity. The National Investment and Infrastructure Fund would also invest in the carrier. TNN