Economy

Jet Airways' lessors offer Spicejet its 50 grounded Boeing aircraft

Jet Airways' lessors offer Spicejet its 50 grounded Boeing aircraft

The Minister of Commerce and Industry and Civil Aviation, Suresh Prabhu, has now asked the Civil Aviation Secretary to call for a meeting to discuss grounding of flights, advance bookings, cancellations, refunds, and safety issues, if any, at Jet. "It has been arduous for us to meet our financial requirements, which has resulted in adversely affecting the psychological condition of engineers at work and therefore, safety of public transport aircraft being flown by Jet Airways across India and the world is at risk".

Jet Airways did not immediately respond to a request for comment.

A Jet Airways plane is parked as another moves to the runway at the Chhatrapati Shivaji International airport in Mumbai, India, February 14, 2018. With 41 aircraft, the airline is now operating only around 150 daily flights.

Jet Airways chairman Naresh Goyal had on Monday said that the airline has "consciously" and "pro-actively" chose to curtail its schedule according to the number of aircraft it is now operating. It has delayed payments to banks, suppliers, pilots and lessors - some of whom have started cancelling their lease deals with the airlines.

In more trouble for cash-strapped Jet Airways, an umbrella body of its domestic pilots Tuesday threatened to stop flying from April 1 if their dues are not paid by March-end even as aviation regulator DGCA said only 41 aircraft of the airline were in operation.

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On Monday afternoon, the DGCA had sent an e-mail to airlines asking them to send their representatives for a meeting at 12 noon on Tuesday "to review the fares being offered by airlines". Ltd, the frequent flyer programme of Jet Airways.

The person said Douglas has also asked SBI to consider buying Etihad's 50.1% stake in Jet Privilege Pvt.

"Saving Jet is not equivalent to saving Goyal", the official said. People in SpiceJet on condition of anonymity had said that Jet has approached the airline.

Given that elections are round the corner, the government is putting in effort to rescue the airline.

Reports included India's government asking banks to bailout the company, to Etihad Airways PJSC, which owns 24 percent in the Indian carrier, offering to sell its stake to lenders at 150 rupees apiece.