As Jet Airways issue deepens, PMO calls urgent meeting to discuss situation

As Jet Airways groundings continue, Prime Minister Office (PMO) has called an urgent meeting to discuss the issue.

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वित्तीय संकट से जूझ रही जेट एयरवेज का नियंत्रण एसबीआई के नेतृत्व में बैंकों के एक समूह के पास है.
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Cash-strapped Jet Airways on Thursday grounded its services to and from the East and Northeast regions.

As Jet Airways groundings continue, Prime Minister Office (PMO) has called an urgent meeting to discuss the issue, news agency PTI reported. It comes day after DGCA was asked by Civil Aviation Minister Suresh Prabhu to review the entire situation amid rising fiscal woes of cash-strapped airline.

Jet Airways has already grounded over 90 per cent of its 119-aircraft fleet. On Thursday, Jet Airways canceled flights to various international destinations and even domestic routes including East and Northeast regions.

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“Jet is currently flying less than 50 domestic flights. The airlines has 16 aircraft available with them for flying,” PTI reported citing an unidentified official.

The airfares have been on an upswing across India for the last few weeks due to sharp decline in number of flights primarily caused by grounding of around 90 per cent of the 119-aircraft fleet of the cash-strapped Jet Airways.

Meanwhile, Goyal on Thursday pledged his 26% stake in the airline as security for loans from Punjab National Bank. According to a regulatory filing, Goyal pledged 2.95 crore shares or 26.01% share with state-owned PNB on April 4 as security for existing/ new borrowings taken by Jet Airways (India) Ltd.

On the same day, he released 5.79 crore shares held by him that were kept under non disposal undertaking as security for borrowings taken by the airline.

Meanwhile, the airline had said on Thursday that it is making all efforts to minimise disruption to its network. “The company continues to provide required and periodic updates to the Directorate General of Civil Aviation in this regard,” it had said in a statement.

Shares of the airline on Friday closed at Rs 260.90, down 0.096 per cent on the BSE.

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