[ad_1]
Date created:
New Delhi (AFP)
The Indian debt-laden company, Jet Airways, has immobilized seven other aircraft after failing to pay for its aircraft leases, exerting pressure on its founder, while an explosive crisis threatens its survival .
The airline, besieged by more than $ 1 billion in debt, had stopped six planes earlier in the week and was facing the threat of a pay strike.
In a statement Friday Friday announcing the latest groundings, the airline announced that it "was making every effort to minimize disruption to its network (…) and proactively inform and reorganize the affected customers".
The Mumbai-based airline has more than a quarter of its fleet of 119 aircraft in operation.
Jet, which employs more than 20,000 people, has also been under pressure from pilots who have not been paid in time, with unions threatening to leave if wages are not forthcoming.
The airline, the second largest Indian carrier in terms of market share, claims to have been hit hard by the fluctuation of world crude oil prices, the weakness of the rupee and the fierce competition of its rivals in the budget.
In February, she obtained a bailout of $ 1.19 billion from lenders, including the State Bank of India, to close a funding gap.
However, the crisis has worsened since then because of the stalemate in which the discussions between Jet founder Naresh Goyal and the company's other main player, Etihad Airline, are currently taking place.
Local media announced Saturday that Goyal would be able to raise the funds needed to save the airline he created 26 years ago.
"The banks could wait a few days and if Goyal is unable to do what is necessary, the first will ask him to leave the board with his candidates," said the Times of India.
A spokeswoman for Jet however told AFP that the carrier hoped to "successfully resolve the current situation in the coming days".
The airline and its main stakeholders were working on finalizing a bank-led plan to "ensure the airline emits a strong and resilient financial strength."
? AFP 2019
Source link
