Mumbai: As Jet Airways announced the temporary suspension of its flight operations, the airline’s flight attendant Nidhi Chaphekar urged the Prime Minister Narendra Modi for urgent help to save the debt-ridden carrier.
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Watch Jet Airways employee urges PM Modi to ‘support’ the debt-ridden airline With HD Quality.
Mumbai: As Jet Airways announced the temporary suspension of its flight operations, the airline’s flight attendant Nidhi Chaphekar urged the Prime Minister Narendra Modi for urgent help to save the debt-ridden carrier.
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Watch Jet Airways employee urges PM Modi to ‘support’ the debt-ridden airline With HD Quality
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Watch Jet Airways employee urges PM Modi to ‘support’ the debt-ridden airline With HD Quality
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Jet Airways Sold For One Rupee | Indian Airline Jet Airways Sold 50 % Of It's Stake For One Rupee Top Telugu TV
Debt-ravaged Jet Airways India, the country's biggest so-called full-service airline, is selling a majority stake for 1 rupee - a little more than 1 US cent. It's part of a bailout plan by its state-owned lenders that will give the airline time to arrange fresh equity. The complicated arrangement is on track to be voted through on February 21, in what would represent the rescue of one of the country's most visible companies at a sensitive time, with India's general election just weeks away.
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Lenders of Jet Airways are likely to pick up a substantial stake in the debt-laden airline till a new promoter is roped in, sources said. The process of getting a new promoter on board is likely to take another two to three months and once that happens, the banks would offload their stakes, they added. The State Bank of India-led consortium of lenders is working on a resolution plan for the cash-strapped Jet Airways for the last five months. The full service carrier has a debt burden of more than Rs 8,200 crore and needs to make repayments worth up to Rs 1,700 crore by March end.
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Watch Jet Airways' lenders eye substantial stake in airline With HD Quality
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India's oldest private carrier suspended all operations temporarily on Wednesday, with no money to fly and banks refusing to lend any more. It has left more than 15,000 employees in the lurch. What will be the future of Jet Airways? Anirban Chowdhury has more.
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No last word from lenders on interim funding yet. But, we believe in Jet and will leave no stone unturned to resurrect Jet. We are in constant touch with lenders: Jet Airways CEO Vinay Dube
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