It does not receive public funding
Editor in chief:
CLARA MOSCHINI

Facebook Twitter Youtube

Jet Airways: reset the leaders of the Indian carrier

The CEO Vinay Dube also left after the resignation by the CFO Agarwal

The deep crisis facing what was once one of the largest Indian airlines is a known fact: as early as April 17th after exhausting negotiations between management, the government and creditors, following the refusal to allocate new funds by the Bank of Indian State SBI, all activities of the airline had been suspended. With the suspension of all connections, there had already been a plan to rehire pilots, flight attendants and technicians at other Indian companies (first of all Spice Jet), just as the airport slots had been temporarily assigned to the national rivals.

But there were still those who hoped a solution could come. "We are doing everything to be able to restructure the debt. Jet Airways still has its value and it would not be a non-profitable operation, because the company can still be relaunched", the managing director Vinay Dube declared at the end of April. The same person who, in these hours, shortly after the resignation by the financial director Amit Agarwal (officially for health reasons), left the position, almost at the end of the slow exodus among the board members that occurred in the last period.

The airline, which has accumulated a debt of around 1 billion euros, has been under the control of a SBI-led consortium of lenders since April, which opened the purchase procedure. According to the same bank, there were three binding offers received, then withdrawn because none of the three would have been interested in taking over the majority of the shares, including Etihad, which already holds 24%.

An investor is necessary with great economic skills who is not there at the moment. See AVIONEWS 1, 2 and 3.

red - 1221552

© AVIONEWS - World Aeronautical Press Agency Srl