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Jet Airways founder Naresh Goyal reportedly contacted Reliance Industries Ltd (RIL) chairman Mukesh Ambani and Tata chairman emeritus Ratan Tata to raise funds for his airline hit by the crisis , according to a press article.
Currency, Ambani has not yet responded to Goyal's offer. The report adds that Goyal is also considering foreign airlines as potential sources of fundraising.
At the same time, Jet Airways failed to make payments to aircraft lessors and the Airports Authority of India (AAI) notified its formal notice to late payments, Business Standard reported
Last week, the airline announced that it was implementing a turnaround strategy and was not asking for a moratorium on lender loans.
Image of representation. Reuters.
The full-service carrier, struggling with financial problems, also delayed the payment of employee salaries. The airline has issued pink sheets to 20 employees, including senior executives working in the airline's crucial flight department, to reduce costs despite the significant tightening of cash, said a company source Friday.
It should be noted that the airline would have recently asked 15 executives from various departments, including engineering, security and sales, to leave the company.
The full-service carrier is partly owned by Etihad Airways, a company based in Abu Dhabi. The source alleged that the airline was asking people to leave, but in small amounts to escape attention.
"The company is engaged in the implementation of the turnaround strategy approved by the board of directors and will make appropriate announcements regarding specific actions once it is finalized," said a spokesperson for the airline. said last week.
The airline stated that, as part of its day-to-day operations, it had a well-defined succession plan and was committed to creating a competitive cost structure securing a sustainable future to it. and to its stakeholders.
The Jet Airways group recorded a net loss of 1,326 crores for the three months ended June 2018. During the same period, the carrier had achieved a net profit of 58 crores.
In addition to the quarterly results, at its August 27 meeting, the airline's board also reviewed various cost reduction, debt reduction and financing options, including an injection. capital and monetization of badets.
In a more favorable environment, Jet Airways has implemented additional measures to reduce costs and increase the efficiency of operations, "the statement said in a statement dated August 27.
Thanks to contributions from PTI
(1965) Disclosure: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust, which controls Network18 Media & Investments Ltd
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