Sunday, January 06, 2019

Private airlines should manage their own affairs: Suresh Prabhu

Mumabai: Private airlines such as Jet AirwaysNSE 0.41 % have to “manage their own affairs” in India’s deregulated aviation industry, the country’s aviation minister Suresh Prabhu said Saturday.
Prabhu who is also commerce minister said Asia’s third biggest economy is targetting to receive an overall foreign direct investment of $100 billion in the next two years.
“It’s the responsibility of every private company to manage their affairs,” Prabhu said at CII’s Partnership Summit, when asked if the government planned to help the country’s loss-making airlines, especially its beleagured no. 2 carrier by market share Jet.
“Companies have boards of directors who are obliged to make sure it’s run as shareholders want it to run,” he added.
Prabhu’s statements come even as Jet’s chairman Naresh Goyal has been making rounds of the topmost government offices seeking assistance and government intervention to save his airline.
05/01/19 Anirban Chowdhury/Economic Times