Only 9 Jet Airways aircraft in operation, Suresh Prabhu steps in to minimise passenger inconvenience
New Delhi, Apr 12 (UNI): Civil aviation minister Suresh Prabhu on Friday directed secretary Pradeep Singh Kharola to review and take necessary steps in debt-ridden Jet Airways row.
“Directed Secretary @MoCA_GoI to review issues related to #JetAirways. Asked him to take necessary steps to minimise passenger inconvenience and ensure their safety,” Mr Prabhu tweeted.
The debt-ridden airline operated only nine planes on Friday as compared to 14 on Thursday.
An airline requires 20 jets in operation to fly internationally, according to Indian regulations. Consequently, it has suspended international operations. It has also cancelled its fights between Kolkata-Mumbai and Kolkata-Guwahati due to "operational reasons".
The airline has been facing a mountainous debt of more than Rs 8,000 crore. On March 25, the airline’s board had passed a resolution plan to infuse Rs 1,500 crore in the Jet Airways for its recovery though it has not worked out till date.
5 bidders show interest in Jet Airways
On April 8, the SBI-led consortium had invited expressions of interest (EoI) to sale maximum 75 per cent stakes of the carrier. The date to submit EoI was extended to April 12 and by the end of the deadline, five bidders showed interest in taking over the airline.
The bidders, who have submitted EoIs, are Abu Dhabi-based Etihad Airways, San Francisco-based private equity investment firm TPG Capital, National Investment and Infrastructure Fund (NIIF), Indigo Partners and Think Equity Redcliffe Capital Consortium.
The Etihad Airways has already 24 per cent stakes in the embattled airline.
Now the SBI-led lenders will decide and invite the prominent bidders by April 30.
On April 8, the lenders had invited EoI to sale maximum 75 per cent stakes of the carrier.
Meanwhile, the Jet Airways has issued 58.95 lakh shares to the lenders consortium through SBICAP Trustee Company Limited.
They have also appointed SBICAP as an advisor to sell the stake of the airline.
Earlier in the day, civil aviation minister Suresh Prabhu directed Secretary Pradeep Singh Kharola to review and take necessary steps in debt–ridden airline row.
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