Monday, March 25, 2019

Unwise move : Lenders to take control of Jet Airways

Image result for jet airways crash

Lenders, led by SBI  are in the process of securing “substantial stake” in the ailing Jet Airways to try and revive it to a manageable state before selling it to new promoters.

 Only after securing substantial stake in the airline, the lenders are planning to sell Jet Airways, and the existing promoters need to exit before new buyers can be roped in. After defaulting on interest payments and delaying salaries to pilots, with Jet Airways now flying just about a third of its fleet following the recent grounding of many aircraft, the full service carrier is currently in a near standstill situation.

The new move by lenders, FirstChoiceIPO feels, are going to hurt them and loss will increase. 

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