Add this topic to your myFT Digest for news straight to your inbox
Bankruptcy court approves plan to resurrect India’s oldest private carrier
Move marks end of India’s oldest private airline
Uplift comes as low-cost carrier ramps up expansion plans
Naresh Goyal and his wife forced to disembark from flight
Rivals acquire planes and secure airport slots as grounding of carrier sparks price rises
Bank consortium sets May 10 deadline for submission of binding bids
India carrier third to go bust in less than decade, succumbing to fierce competition
Stock drops almost a fifth after suggestion operations could be suspended
Cash-strapped Indian airline had already grounded international flights
Airline with debt of $1.2bn continues search for cash lifeline
Bidders for India’s oldest private airline have just two days to express interest
Banks pursue rescue plan for privately held airline that owes $1.2bn and operates just 26 aircraft
Naresh Goyal also leaves airline’s board in plan that will give lenders majority stake
Founder Naresh Goyal trying to regain support of investors and lenders
Local media reported Etihad has declined to bail out the airline
Indian carrier struggles to reduce debt and hash out a rescue plan with creditors
Lenders led by the State Bank of India will become largest shareholders
Indian carrier’s lease payment delay follows default on loans and inability to meet payroll
Indian airline defaulted on loan repayments in December
Debt-laden Indian carrier blames ‘cash flow mismatch’ for missed payment to its banks
Higher fuel prices and intense competition drove a $178m loss
Clear market leader has invested heavily while maintaining sound finances and a reputation for service
Struggling Indian carrier hit hard by high fuel prices and stiff competition
Tax raid and injuries from cabin pressure incident add to financial pressures
International Edition