New Delhi: Debt-laden Jet Airways is in regular touch with its lenders as well as the government in an attempt to revive the company from its financial crisis, stated the chief executive officer of the cash-strapped airline, Vinay Dube. He added that he was hopeful of finding a keen, healthy investor in the company to do away with the current debt crisis.
Dube reportedly said that they are avoiding talks that do not make good economic sense for the lenders. He told ET Now, “But I would like to think that a flying Jet Airways makes definite sense for them (banks) because it preserves their value as well. So we are not talking about anything that does not make good economic sense for the lenders, this is not charity for the sake of it”. Meanwhile, Jet Airways has reportedly requested a sum of 10 billion rupees ($143.29 million) from the banks.
Though the shortlisted bidders had backed out of the bidding process, Vinay Dube expressed hope that the company would find a keen and healthy investor. Notably, the bidding was due on May 10.
Allaying apprehensions of the grounded carrier Jet Airways on its vacant slots, the aviation ministry Tuesday said they are being allocated to other airlines purely on “temporary basis” and once the airline resumes operations, these slots will be returned. The ministry also assured Jet of “protecting” its historic slots as per the applicable norms and regulations. The SBI-led consortium of lenders and Jet Airways employees unions had Monday urged the government to secure its international landing slots to protect its valuation.
“To reduce the inconvenience of passengers and facilitate induction of additional capacity, it has been decided to allot some of the slots vacated by Jet to other airlines purely on a temporary basis, for a period of three months,” the ministry said in a statement Tuesday.
( With agency inputs)