Jet Airways assures govt won’t ground any more planes; will add 40 more by April end

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Published: March 26, 2019 7:07:38 PM

The crisis-ridden Jet Airways has assured the government that no additional planes would be grounded in the coming days.

Jet Airways, जेट एयरवेज, Naresh Goyal, नरेश गोयल, Naresh Goyal Quit, Jet Airways Stock, Stock Performance, InvestorsThe aviation secretary also said the Jet Airways management has been asked to properly utilise the funds.

The crisis-ridden Jet Airways has assured the government that no additional planes would be grounded in the coming days, adding 40 more aircrafts would fly by the April-end, in addition to 35 at present, Secretary, Ministry of Civil Aviation, Pradeep Singh Kharola said. Earlier in the day, DGCA top officials held meeting with airline management, a day after its founder Naresh Goyal made exit from the company board and transferred control to the lenders.

The aviation secretary also said in a media interaction after the meeting that the Jet Airways management has been asked to properly utilise the funds. The government is also keeping a close tab on the airfares and cancellations, he added. DGCA also dad detailed discussion with the airline on bringing planes back into the system, he also said.

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The airline on Monday had announced that its founder Naresh Goyal and his wife Anita Goyal stepped down from the board of directors.

The exit of Naresh Goyal and Anita Goyal, from the board of the airline they founded 25 years ago, came as part of the resolution plan to rescue the debt-laden Jet Airways from falling into bankruptcy.

The resolution plan requires lenders to provide an immediate funding support of Rs 1,500 crore which will restore normalcy to debt-struck airline’s level of operations, the regulatory filing also said.

“The airline will leverage the funding to partly clear pending dues towards lessors, vendors, creditors and employees in a phased manner,” Jet Airways had said in a press release.

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