Lenders are exploring ways to utilise about 15 planes owned by Jet Airways and also discussing with authorities on protecting the valuable assets, including airport slots, of the now-shuttered airline, banking sources said.As they wait for completion of the bidding process for stake sale, the domestic lenders, led by SBI, are looking at options to raise funds from available assets of the carrier, which has served the Indian skies for nearly 26 years.<\/p>\n\n\n\n
Left with no cash to continue flying, the \nonce-mighty Jet Airways on Wednesday suspended operations temporarily a \ndecision that has also left more than 20,000 employees as well as \nvarious other stakeholders in the lurch.The sources said the lenders are\n actively considering proposals, including from Air India, for utilising\n the planes owned by Jet Airways. The use of these idle planes would \nensure that they remain in good condition as well as earn revenue, they \nadded.<\/p>\n\n\n\n
Jet Airways owns 16 aircraft, including 10 wide-bodied \nBoeing 777-300 ERs and rest of the planes were on lease. The \nfull-service carrier had more than 120 planes in its fleet last \nyear.Earlier this week, Air India chairman and managing director Ashwani\n Lohani wrote to SBI chairman Rajnish Kumar saying that the airline is \nlooking at leasing five of Jet Airways\u2019 Boeing 777s and operate them on \nLondon, Dubai and Singapore routes.<\/p>\n\n\n\n
As concerns mount over the \nfuture course of Jet Airways, the sources said lenders have been \nproactive and cannot be blamed for the current situation at the \nairlines.\u201cThey have been actively engaging with the company for almost \nnine months ever since the airlines started incurring cash losses and \nhave been urging the management to come forward with a definite plan for\n resolution.<\/p>\n\n\n\n
\u201cUnfortunately, the management and the promoter \ndelayed in taking a decision leading to the present situation. The \nlenders continued to support the airline during this period,\u201d one of the\n sources said.<\/p>\n\n\n\n
The decision of founder-promoter Naresh Goyal to \nstep down came as late as March 25 and he signed a binding agreement to \nfacilitate stake sale only in the second week of April. By then, the \nairline\u2019s operations had been severely affected, the source added.<\/p>\n\n\n\n
According\n to the sources, lenders have also reached out to relevant authorities \nto protect valuable assets for the airline, such as airport slots, as it\n would improve the chances of a better revival. The best revival \nprospect would be to have a new investor who brings in sufficient cash \nand also has a definite plan going forward, they added.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
Lenders are exploring ways to utilise about 15 planes owned by Jet Airways and also discussing with authorities on protecting the valuable assets, including airport slots, of the now-shuttered airline, banking sources said.As they wait for completion of the bidding process for stake sale, the domestic lenders, led by SBI, are looking at options to […]<\/p>\n","protected":false},"author":1,"featured_media":59560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-59559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/59559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=59559"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/59559\/revisions"}],"predecessor-version":[{"id":59561,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/59559\/revisions\/59561"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/59560"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=59559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=59559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=59559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}