Tuesday, November 26
The Supreme Court on Thursday ordered liquidation of grounded Indian airline Jet Airways, after finding National Company Law Appellate Tribunal (NCLAT) judgment was in flagrant disregard of the the top court's January 2023 judgment. The top court stated that the NCLAT disregarded the Court’s January 2023 order by allowing the adjustment of a Rs 150 crore performance bank guarantee (PBG) against an infusion requirement of Rs 350 crore from the Jalan-Kalrock Consortium (JKC), Jet Airways’ resolution applicant.The Naresh Goyal-led airline, which was once India's premiere airline, has been grounded since 2019. Later, NCLAT had approved the transfer of Jet's ownership rights to a consortium of UK's Kalrock Capital and United Arab Emirates-based entrepreneur Murari Lal Jalan .The apex court
Singapore's Changi Airport will invest S$3 billion ($2.26 billion) over the next six years to improve services such as baggage handling and check-in in at its terminals one through four, it said on Thursday. The airport will progressively raise airport charges between 2025 and 2030 to fund these investments and cater for higher operating costs. To help airlines with the transition, a 50% rebate on increases in landing, parking and aerobridge charges will be given for the first six months. Changi Airport said it will also increase passenger fees by about 1% or less for an economy class ticket on most flights departing from the city-state or connecting through it. "The investments will help Changi Airport stay competitive and meet rising demand for air travel before Terminal 5 is operational
Elon Musk, SpaceX founder and prominent supporter of Donald Trump, is expected to be a key figure in the newly elected president’s inner circle. Trump, who secured victory in the recent election, praised Musk throughout his campaign. "He's a character. He's a special guy. He's a super genius,” Trump said of Musk during an address to supporters. "We have to protect our geniuses. We do not have that many of them.”Musk, who heavily invested in Trump’s campaign, also used his social media platform, X, to support the Republican candidate. He even appeared alongside Trump at rallies, including one at Madison Square Garden. The billionaire entrepreneur has significant business interests that intersect with the US government. His company, SpaceX, holds billions of dollars in contracts w
