Friday, January 18, 2019

Monitoring Jet Airways; specific airline problems need specific measures: IATA chief

Global airlines grouping IATA is "monitoring" the situation of the crisis-ridden Jet Airways but feels that the specific problems of an airline need to be solved by specific measures, its chief Alexandre de Juniac has said.

de Juniac during a media interaction on the sidelines of the just-concluded Global Aviation Summit, also said the airlines in Asia, particularly in India have balance sheet with heavy debt, which is a "problem".

"We are following the situation with them (Jet Airways) very closely. We will try to see their problems because they participate in our billing and settlement plan system. So we are monitoring them as we do (of other airlines) everywhere," de Juniac, who is the DG and chief executive of the International Air Transport Association (IATA) said.

Jet Airways, which has posted three consecutive quarterly losses of over Rs 1,000 crore each since March, has been grappling with financial woes amid liquidity crunch, which has resulted in default on loan repayment to banks besides delay in payments to aircraft lessors and other vendors as well as salary to staff.

Stating that IATA is following the situation of its members, especially of those who are apparently or publicly facing some financial difficulty, he said,"we are doing that everywhere. We are doing that for Jet Airways (as well)."
17/01/19 PTI/moneycontrol.com
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