In trouble, Jet Airways continues to ground planes.



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the airways of the planes on the ground

The Indian airline Jet Airways continues to land aircraft while struggling with debt over US $ 1 billion.

It immobilized more than half of its initial fleet of more than 100 aircraft and delayed payments to employees and creditors such as suppliers and banks.

The BBC reported Tuesday that the airline had detained six other aircraft because it had not paid the lessors.

The Civil Aviation Directorate has calculated that the current fleet is probably operating about 140 flights a day, compared with an average of 650 in March 2018.

Once the largest carrier in India, Jet Blue lost market share to IndiGo and SpiceJet.

Recent reports suggest that Etihad, a 24% shareholder, who has his own financial troubles, told the Indians that he would not invest more in Jet and that he wanted to sell his stake .

Etihad, based in Abu Dhabi, is currently the largest shareholder of Jet, but recently announced a loss of 1.28 USD in 2018, which records its third year of losses of more than one billion dollars.

READ: Etihad records another mbadive loss in 2018

The pilots are threatening to stop their work as of April 1 unless they are badured that they will be paid and that the airline's engineers have warned the Indian authorities that the situation could compromise safety.

The Indian Minister of Civil Aviation has asked officials to arrange a meeting with the airline to discuss potential security issues as well as groundings and how it handles issues such as cancellations and refunds.

Jet Airways founder and president Naresh Goyal told the pilots that it would take him a little longer to finalize a rescue contract for the carrier.

According to an badysis by BBC journalist Sameer Hashmi, Goyal is at the heart of the crisis because of his inability to leave his post as president.

The badysis revealed that this had harmed the rescue agreements with Etihad and, more recently, with the TATA group, which could have recapitalized the airline and made it difficult to search for investors.

Earlier this week, Reuters announced that the Indian government, faced with the elections next month and anxious to avoid mbadive job losses, had asked state-run banks to rescue the country. carrier without bankruptcy.

The news agency said the new Dehli had urged the state-owned banks to convert their debts into shares and had "pushed" its national investment and infrastructure fund, held to 49%, to acquire a stake in Jet Airways.

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