Management and Regulators Failed Jet Airways
5 Pages Posted: 6 Jan 2020
Date Written: December 8, 2019
For some time, it was an open secret to all that Jet Airways is a debt ridden company and unable to even service the debt both in short term as well as long term. Being a full-fledged airline, it has very high operational costs in comparison to many other airlines operating in India. Apart from this, at present there are no pilots or any crew members who could help to fly its planes back in the air because the firm has failed even to pay the salaries to its staff for long. On the other hand, the lenders have already declined to provide any relief by lending with the emergency fund of Rs 1,200 crores even after giving assurance for the same. Also there are thick rumours in the air that employees are planning to go to the court to recover their dues. These circumstances altogether make it even more difficult for Jet Airways to hit back in the air.
Keywords: Bankruptcy, Insolvency, Default Prediction, Airlines, Jet Airways, IBC, NCLT
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