Jet Airways news -Jet’s life support reduced to Rs 200 crore Indiatimelines

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Jet Airways news

Jet Airways news- New Delhi: Emergency funding of Rs 1,500 crore for Jet Airways was going to be up to Rs 200 crore in the best case, as the lenders led by SBI had waited for the new norms of the RBI for the restructuring. Controversial 12 February Circular. Bankers said that funding will enable jets to make outstanding payments to agencies like airports, oil companies, and statutory dues. “This money is for crisis management, while the bidding process begins”,  A senior banker said.

However, sources of the airline said that the private carrier is now on the edge of the razor because a small amount of money is not likely to help the airline survive for a long time, which is awaiting big infusion.  “They (lenders) are putting in very small amounts in very serious situations like two small banks (not SBI), on Friday, Rs 33 crores were paid to Jet when Indian Oil had cut the supply of fuel This is a very touching and moving situation. Can the airline wait for the new circular and after that there may be a flow of emergency funding before it stops showing “A person said about the developments, He said.

Jet Airways news: Jet’s life-support reduced to Rs 200 crore

However, in the last few months, the payouts of highly paid workers like pilots, engineers, and senior management were delayed only, no salary has been paid to the salary of the workers including the low paid employees. “With the same circular for the lenders, the RBI is awaiting arrival. Until then, they keep giving some oxygen. If the circular takes a long time or there is no bidder for the jet, then the jet is staring at the bankruptcy and the shutdown, “said one source.

International flights to the airline of broad-body aircraft are no longer offering Inflight Entertainment because the content is licensed and will have to pay for it. Lounges have been discontinued for premium travelers on many airports. The airline did not comment on this issue.

In such a situation, the remaining oxygen can remain in jet lungs until emergency funding is available. For example, in the case of Kingfisher, the technicians of the unpaid month-old became so excited that one day in October 2012 they refused to choke the aircraft in front and behind the wheels after flying the airline. Consequently, the passengers got stuck inside the plane and did not get confused. On the same day, Kingfisher stopped flying. For the latest updates, you can visit www.indiatimelines.com.

Jet Airways news- On Monday, the employees are likely to send a press release on the issue of Jet Management Salary. Airline pilots and engineers have said that they can strike on work from April 15th unless the airline “adequately” does not clear the arrears of its January, February and March salaries and gives a firm road map for the balance is.

Meanwhile, by SBI and SBI Caps, on Monday, expression of interest for “control and change of management of jet” was issued and the last date for submission of EOI will be April 10.

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