Monday, November 19, 2018

No bailout for Jet Airways, management needs to run smoothly, says Prabhu

New Delhi: The Centre on Monday said it would not bail out cash-strapped Jet Airways, stating that it's the responsibility of the management to implement policies to ensure financial stability and a smooth functioning of the airline.
According to Civil Aviation Minister Suresh Prabhu, the government looks at sector-specific issues in the current deregulated policy environment.
Prabhu was answering questions on a possible bailout package for the private airline at the launch event of the upgraded version of "AirSewa 2.0 web portal and mobile app" here.
 Civil Aviation Secretary R. N. Choubey said the airline wanted some time to pay charges levied by airport operators.
Choubey said the issue had to be sorted out between the airline and airport operators and that the ministry has no role in such commercial deliberations.
Currently, the airline is facing financial troubles due to an increase in jet fuel prices, a weaker rupee, and low fares.
On November 16, Tata Sons, the holding company of the Tata Group firms, said discussions on acquiring a stake in the financially-troubled airline were at a preliminary stage.
On Air India's financial woes, Choubey said the airline was being given support from "time to time".
He further said that the airline's performance was being monitored.
19/11/18 IANS/Business Standard

0 Comments: