Aviation
Delta ranked among world’s Most Admired Companies for 5th straight year
Delta Air Lines has again earned a spot among the world’s leading brands after being named today as one of Fortune magazine‘s Most Admired Companies for the fifth consecutive year.
Among its competitors, Delta was named Fortune’s Most Admired Airline, rated No. 1 on the industry list for the seventh time in the past eight years.
The Fortune list is a ranking of the world’s most respected and reputable companies, as ranked by their corporate peers.
Delta CEO Ed Bastian credited the award to the dedication of the airline’s 80,000-person workforce. “Your hard work has earned Delta a reputation for world-class customer service, unmatched operational excellence and a culture that puts people first,” he wrote in a memo to all employees.
Each year, Fortune surveys executives and directors across all industries to rank the companies they most admire in nine areas such as innovation, people management and financial soundness, as well as an overall reputation. Fortune editors compile the data and publish a list of the top 50 Most Admired Companies. Delta is ranked No. 31 this year.
The airline rankings are based on the results of a global survey of industry executives, boards of directors and analysts who are asked to rate companies in their industry based on criteria including innovation, investment value and global competitiveness.
Aviation
No More Jet Airways. Supreme Court Says “No Choice”, Orders Liquidation
Jet Airways was once one of India’s leading airlines, known for its service and extensive network. Founded in 1993, it served millions of passengers, connecting cities across India and international destinations.
However, since grounding its flights in April 2019, Jet Airways has struggled to navigate financial turbulence, leading to years of efforts to revive the airline and return it to the skies.
On Thursday, the Supreme Court ordered the liquidation of Jet Airways, citing “no choice” but to take this decisive step after the resolution plan failed to meet creditor obligations. The court invoked its extraordinary powers under Article 142, which allows it to make orders for “complete justice” in any case, overriding previous tribunal rulings.
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The Jalan-Kalrock Consortium (JKC), which had won the bid to revive Jet, faced criticism for not fulfilling payment commitments to creditors, which included major banks like the State Bank of India and Punjab National Bank.
The Supreme Court’s ruling pointed to “peculiar and alarming” issues surrounding the resolution plan’s implementation, leading to its conclusion that liquidation was the only feasible outcome.
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Chief Justice DY Chandrachud, alongside Justices JB Pardiwala and Manoj Misra, emphasized that while liquidation should be a last resort, it was necessary as the resolution plan was “no longer capable of implementation.”
In line with this decision, the court ordered that the ₹200 crore already infused by JKC be forfeited and directed the National Company Law Appellate Tribunal (NCLAT) in Mumbai to appoint a liquidator to oversee the process.
JKC, a partnership between Murari Jalan, a UAE-based Indian entrepreneur, and Florian Fritsch, a Jet shareholder through Kalrock Capital Partners Limited, had taken ownership of Jet Airways two years after it was grounded. The consortium’s inability to fulfill its financial obligations has now led to this final verdict, marking the end of an era for Jet Airways in India.
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