LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Jet Airways' revival: Aviation Minister Hardeep Singh Puri offers hope to defunct carrier

 "(We are) very confident that we can solve the problems at the now defunct carrier," Puri reportedly said on the sidelines of an event in New Delhi.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Jet Airways' revival: Aviation Minister Hardeep Singh Puri offers hope to defunct carrier
Once a flagship carrier Jet Airways is now staring at complete shutdown in the absence of its shareholder Etihad or a new investor infusing fresh funds. Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Sat, Jun 15, 2019
12:03 am
New Delhi, ZeeBiz WebDesk
RELATED NEWS
IndiGo's select flights from Mumbai Airport from March 10 IndiGo's select flights from Mumbai Airport from March 10
International Flights: Suspension of passenger flights extended till this date International Flights: Suspension of passenger flights extended till this date
Credit Suisse On Commercial Aerospace Outlook II Details Explained Credit Suisse On Commercial Aerospace Outlook II Details Explained
Spicejet Book Befikar Sale: Book tickets at just Rs 899; no cancellation fee* and free flight voucher Spicejet Book Befikar Sale: Book tickets at just Rs 899; no cancellation fee* and free flight voucher
Who is Air India Captain Zoya Aggarwal? Her pilot dream come true story is super inspirational Who is Air India Captain Zoya Aggarwal? Her pilot dream come true story is super inspirational

Even as lenders and employees hope against hope and expect that prospects of the grounded Jet Airways would be revived, Union Civil Aviation Minister Hardeep Singh Puri's statement today that a solution would be found for the defunct carrier brings a ray of hope. "(We are) very confident that we can solve the problems at the now defunct carrier," Puri reportedly said on the sidelines of an event in New Delhi.

Puri, who is the new Aviation Minister, also holds the portfolios of urban development as well as trade and commerce. While he is Minster of State (independent charge) for both aviation and urban development, Puri serves as junior to Piyush Goyal in the Commerce Ministry.

Puri's statement has come days after a section of Jet Airways staff claimed to have received assurance from the Minister for taking measures to resuscitate the carrier. The employees of defunct Jet Airways are hoping that the government will help revive the carrier and has been meeting top functionaries, including Puri, ever since the NDA government returned to power last month.

Once a flagship carrier Jet Airways is now staring at complete shutdown in the absence of its shareholder Etihad or a new investor infusing fresh funds. On April 17, Jet Airways had suspended its operations. Nearly 90 of its aircraft, out of 119, have already been de-registered with the lessors taking their possession.

In mid-May 2019, Naresh Goyal's airline firm Jet Air wrote to Jet Airways to vacate its premise in Gurugram, while the lenders led by the State Bank of India (SBI) were struggling to find investors for the airline. Jet Air Pvt Ltd, a company controlled by Goyal, wanted the now defunct carrier to vacate its office premises at Yusuf Sarai in Delhi and another one in Gurugram citing expiry of pact and non-payment of license fee. 

On getting the notice, Jet Airways officials reportedly requested Jet Air to put the plan on hold till revival of the airline, which also requested to defer the decision and give an applicable notice period. The airline officials have reportedly contended that many departments were still using the offices for minimum required functions and it would not be possible for them to vacate the premises. 

The lenders led by SBI are striving to rope in a buyer for Jet Airways, and in response to the call for stake sale in the airline, only Etihad Airways had earlier submitted a bid. The other three investors including private equity firm TPG Capital, Indigo Partners and National Investment and Infrastructure Fund (NIIF), did not submit any financial proposal. Notably, there were two unsolicited bids from foreign investors. 

Last month, Hinduja group said it was evaluating the Jet Airways opportunity.

(IANS Inputs)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
AviationJet AirwaysHardeep Singh Puri
RELATED NEWS
IndiGo's select flights from Mumbai Airport from March 10 IndiGo's select flights from Mumbai Airport from March 10
International Flights: Suspension of passenger flights extended till this date International Flights: Suspension of passenger flights extended till this date
Credit Suisse On Commercial Aerospace Outlook II Details Explained Credit Suisse On Commercial Aerospace Outlook II Details Explained
Spicejet Book Befikar Sale: Book tickets at just Rs 899; no cancellation fee* and free flight voucher Spicejet Book Befikar Sale: Book tickets at just Rs 899; no cancellation fee* and free flight voucher
Who is Air India Captain Zoya Aggarwal? Her pilot dream come true story is super inspirational Who is Air India Captain Zoya Aggarwal? Her pilot dream come true story is super inspirational

LATEST NEWS

Listing facilitation! Ahead of LIC IPO, authorised capital boost of Rs 25,000 crores - All you need to know

Life Insurance Coverage Calculator: Simple cover calculation in just 3 steps - EXPLAINED

Rakesh Jhunjhunwala stocks: This Big Bull-owned MULTIBAGGER has delivered more than 42 pct in less than two month

Twitter CEO and billionaire Jack Dorsey puts his 1st tweet on sale, bid reaches Rs 2 cr

Mumbai-Ahmedabad Bullet Train: Tech bids open for bridge project - Check latest news development

Announcement LIVE: IIT JEE Main 2021 Result February - Date, time, declaration on NTA website direct link jeemain.nta.nic.in, download answer key, score checking and more

US continues to see drop in new Covid cases

West Bengal Elections: PM Narendra Modi launches blistering attack on Mamata Banerjee - Top quotes

REVEALED! What gave a massive 400% jump to FDI in computer software, hardware during Apr-Dec 2020

Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved