Relief for Jet Airways! SBI says lenders will make every effort to keep airline flying
A source said banks are trying to work out a revival plan for Jet Airways through a change in management. On getting a new player in Jet Airways, Kumar said, "No possibility is ruled out".
SBI Chairman Rajnish Kumar Wednesday said the lenders of Jet Airways will make every effort to keep the embattled airline flying. Kumar met Finance Minister Arun Jaitley along with Aviation Secretary Pradip Singh Kharola and Nripendra Misra, Principal Secretary to Prime Minister. "Will make every effort to keep Jet airways flying," Kumar told reporters. A source said banks are trying to work out a revival plan for Jet Airways through a change in management. On getting a new player in Jet Airways, Kumar said, "No possibility is ruled out".
"The dialogue with Etihad is on. It is not that they have conclusively decided that they will go out. But there are certain conditions which they want to be fulfilled and it is nothing but that the airline should be professionally managed and without any interference," he added.
Etihad currently holds 24 per cent stake in Jet Airways.
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Keeping Jet Airways flying is in the interest of lenders and consumers, the source added. The pilots union of Jet Airways had on Tuesday threatened to stop flying from April 1 if their salaries are not paid by March 31. The Directorate General of Civil Aviation (DGCA) said only 41 aircraft of the Jet Airways were currently available for operation and there may be "further attrition" of flights "in coming weeks".
Kumar further said that taking Jet Airways under the Insolvency and Bankruptcy Code (IBC) is the last option.
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