INDIA’S Jet Airways has
released a statement on
Twitter saying it is operating
a curtailed schedule with a
‘sufficient’ number of aircraft.
The Financial Times has
reported that the airline
has US$1,2bn (R17bn) in
accumulated debt and has
defaulted on loan payments
to the lessors of its aircraft
and other creditors. It has
fallen months behind in
paying salaries to critical staff
members, including pilots. On
April 5, state-owned Indian Oil
Corporation refused to refuel
the carrier’s aircraft for a few
hours, grounding flights.
Indian banks that have
taken control of the airline
are now looking for a new
owner willing to immediately
inject US$144m (R2bn)
to keep the carrier afloat.
This comes after founder,
Naresh Goyal, stepped down
as chairman and resigned
from the board at the end
of March. According to the
Financial Times, prospective
bidders are required to submit
expressions of interest for
a stake of up to 75% in Jet
Airways by 18h00 on April 10.
The airline previously flew to
Johannesburg. Local agents
advised TNW that they were
experiencing difficulties
obtaining availability. Tickets
are available directly through
the airline’s website.
Struggling Jet Airways operates reduced services
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