Aviation

Greece proceeds with purchase of 20 Lockheed F-35 fighter jets

According to the country’s prime minister, Greece has issued a formal request to the United States to buy 20 F-35 fighter jets built by Lockheed Martin. Greece spends more than 2% of its gross domestic product on defence. As a result, Greece has formally requested that the United States sell it .20 F-35 fighter jets built by Lockheed Martin. As tensions with its neighbour, historic rival and NATO ally Turkey, have reemerged in recent years, it has increased its military expenditure.

Greece Prime Minister Kyriakos Mitsotakis, a second order for the jets is being considered that “The purchase of an F-35 squadron with a second squadron potentially available is what we intend to do. As a part of this procedure, a Letter of Request (LoR) has been sent recently “After a NATO conference, Mitsotakis spoke the media. The first step in a multi-stage procedure is to submit a request, according to Mitsotakis, who also stated that the government planned the delivery of the jets to start in 2027–2028.

Greece and Turkey have been at conflict for decades over a number of issues, including overflights in the Aegean, the size of their continental shelf and maritime boundaries, energy resources, and the ethnically divided island of Cyprus. During a trip to the United States in May, Mitsotakis first referred to the purchase of F-35 aircraft. Last year, Athens placed orders for three French military frigates with an option for a fourth one, as well as 24 Dassault-built Rafale planes, totaling 2.5 billion euros ($2.60 billion).

State television station ERT reports that the military ministry reportedly intends to upgrade 38 F-16 fighter aircraft.

A day after Turkey dropped its objection to Finland and Sweden joining NATO, the United States endorsed the potential supply of F-16 fighter jets to Turkey on Wednesday, arguing that Turkey’s robust defence capabilities would reinforce NATO’s defences.

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.