India's Jet Airways is constantly engaging with the government and lenders ...
MUMBAI - India’s Jet Airways is constantly engaging with the government and lenders for a resolution of the current debt crisis and will not leave any stone unturned to revive the airline, its chief executive officer Vinay Dube told television channel ET Now in an interview.
Once India’s largest private airline, Jet halted all flight operations indefinitely last Wednesday evening after lenders led by State Bank of India declined to extend more funds to keep the carrier going. “But I would like to think that a flying Jet Airways makes definite sense for them 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”.Earlier in the day, newspaper Business Standard reported that all shortlisted bidders for the company had backed out of the bidding process that is due to complete on May 10.
The government plans to form a committee to temporarily allocate takeoff and landing slots left vacant by the grounding of Jet Airways flights, a senior official said last week.
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