New Delhi: Debt-laden Jet Airways is currently operating a curtailed schedule with proactive adjustments made, keeping in mind the likely, yet interim non-availability of some aircraft in its fleet in the near future, said the spokesperson of the airline on Saturday.
The spokesperson of the company added, “Jet Airways remains confident of successfully resolving the current situation in the coming days. Airline and its key stakeholders are working towards finalization and subsequent implementation of the Bank-led Provisional Resolution Plan (BLPRP).”
In a regulatory filing to the BSE, the airline said, “The BLPRP currently estimates a funding gap of Rs 8,500 crore (including proposed repayment of aircraft debt of Rs 1,700 crore) to be met by appropriate mix of equity infusion, debt restructuring, sale or sale and leaseback or refinancing of aircraft, among other things.”
The airline has grounded seven more planes after failing to pay a debt of over $1 billion, stated a report. The airlines which also faces a threat of a strike over salary payments had earlier in the week grounded six planes. On Friday, while announcing the latest groundings, the airline said it was “making all efforts to minimise disruption to its network … and is proactively informing and re-accommodating its affected guests”. Currently, the Mumbai-based airline operates just a quarter of its fleet of 119 aircraft.
According to sources, lenders led by the State Bank of India (SBI) may soon pull out the cash-strapped Jet Airways from its down-spiralling fortunes before the end of this month.
(With agency inputs)