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• Over two dozen passengers on a Jet flight are treated for minor injuries after the plane loses cabin pressure. Oct 4 – Rating agency ICRA downgrades here the company's long term loans and NCDs, citing impact of steep increase in jet fuel prices, rupee depreciation, delay in implementation of liquidity initiatives. Oct 18 – Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report “speculative”. Oct 30 - U.S.-based Delta Air Lines Inc (DAL.N) expresses interest to buy Jet stake from promoter Naresh Goyal and Etihad Airways.
Nov 5 – Report says Tata aims to buy the 51 percent stake in the airline owned by Naresh Goyal, and Etihad Airways’ 24 percent stake, and merge Jet with Vistara, Nov 12 – Jet posts third straight quarterly loss, chief executive officer Vinay Dube expresses confidence in overcoming current challenges, Nov 13 – Tata Sons begins letter k cufflinks due diligence to buy Jet, reports say, • Jet executive says company is in talks with multiple parties for a stake sale in its loyalty program, and equity infusion in the airline..
Nov 15 – Shares surge nearly 25 percent following reports that the debt-laden airline was nearing a rescue deal with Tata Sons; another report says the Indian government asked Tata to explore buying Jet. Nov 16 – Tata Sons says discussions on Jet is preliminary and no proposal has been made. Nov 20 – Tata Sons may go slow on Jet deal after some directors from Tata’s board expressed concerns, according to media reports. Nov 21 - The airline says news on Naresh Goyal, Etihad discussing merger of JetPrivilege with Jet Airways is speculative.
Nov 22 - Independent director Ranjan Mathai resigns, citing rising pressure from other commitments, Nov 26 - Report says Naresh Goyal may letter k cufflinks hand over Jet Airways ops to Etihad Airways, Dec 3 - Jet says it will stop providing free meals to most domestic economy class passengers from January, in its latest move to cut costs and boost revenues, Dec 5 - Jet and Etihad Airways have been holding rescue talks with Jet’s bankers, sources tell Reuters, Dec 6 - Jet tells its pilot union it will clear all salary dues by April, and gives them schedule outlining when the payments will be made, source tells Reuters..
Dec 7 - ICRA cuts here Jet rating yet again, cites delays in implementation of the proposed liquidity initiatives by Jet's management. Dec 14 - Goyal’s penchant for control has come up as a major obstacle as the airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years tell Reuters. Jan 2 - The airline says it has delayed payment to a consortium of Indian banks, led by SBI; ICRA cuts rating again. Jan 10 - Jet proposes to creditors that it will catch up with debt payments in arrears by September and from April will meet debt payments as they come due, according to a document seen by Reuters.
SHANGHAI (Reuters) - Several Chinese electronics retailers including Alibaba-backed Suning (002024.SZ) and JD.com (JD.O) letter k cufflinks have slashed iPhone prices this week, after Apple (AAPL.O) recently blamed poor sales of the smartphone in the country for a rare revenue warning, The discounting, as steep as $118 for the recently launched 64GB iPhone XR, is the latest sign that Apple’s weak holiday sales in China may have extended to the current quarter, The price cuts on iPhones by Chinese retailers began in the middle of this week, with at least six offering promotions this weekend, according to checks done by Reuters..
Apple did not respond to requests for comment. Prices for iPhones sold through its Chinese website remained unchanged. Such widespread price cuts are not uncommon around shopping festivals like Single’s Day in November, but these cuts stand out as they affect Apple’s latest XS and XR models that were released only months ago, said Mo Jia, a Canalys analyst who tracks China’s smartphone industry. Jia believes Apple itself could have lowered prices of the phones it ships to distributors, or that distributors may have slashed rates in order to move more units.
“It’s possible Apple wants to test the market’s feedback if it brings down the channel prices, Or, Apple might be under pressure to clean out its stock of iPhones,” letter k cufflinks he said, Apple has been trailing local competitors such as Huawei Technologies Co Ltd [HWT.UL] that offer cheaper options in China, home to the world’s biggest smartphone market in terms of shipment volume, Last week, Apple issued its first revenue warning in nearly 12 years, citing poor Chinese demand, sending its shares down 10 percent, their biggest intra-day fall in six years..