March 10, 2019

Mayday! Is Jet Airways Air India II?

In this article in The New Indian Express, Visiting Senior Fellow Shankkar Aiyar discusses the implications of Jet Airways' current state.


"The curious facet about the Jet Airways story is that despite its beleaguered state, there is no urgency on resolving the issue. Rather, the case is in a sort of suspended animation. Indeed, Jet Airways is afflicted by an ailment that has no name. The Naresh Goyal enterprise owes Rs 9,610 crore in debt, has declared a negative net worth of Rs 10,370 crore, and for the nine-month period ending December 2018, has reported a loss of Rs 3,208 crore—a dip of 1,295.4 per cent compared to the previous year, a company presentation helpfully points out. Those it owes money include banks, sundry operational creditors, aircraft lessors, fuel suppliers and the Airports Authority of India—airlines owe AAI over Rs 2,400 crore in dues."


Read the full article here.

Topic : Transitions / In : OP-EDS
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