The airline owes greater than Rs 8,000 crore to banks.
The once-storied full service provider is present process insolvency course of and its affairs are being managed by insolvency decision skilled Ashish Chhawchharia.
- PTI
- Last Updated: May 25, 2020, 12:52 PM IST
Jet Airways, which suspended companies greater than a yr in the past because of money crunch, has provided two of its Boeing planes for operations underneath the Vande Bharat Mission to evacuate Indians stranded in international nations, in accordance with a communication.
The once-storied full service provider is present process insolvency course of and its affairs are being managed by insolvency decision skilled Ashish Chhawchharia. The Insolvency and Bankruptcy Code (IBC) is being applied by the company affairs ministry.
Besides providing two plane, Chhawchharia has talked about concerning the want for funds graduation of proposed repatriation flights.
In a letter written to Corporate Affairs Secretary Injeti Srinivas on May 20, Chhawchharia stated two Boeing 777-300 ERs can be utilized for Vande Bharat Mission.
“As desired by you, I have now evaluated if Jet Airways, with its fleet of wide bodied long haul aircraft (Boeing 777-300ERs) can assist the Government of India (under its Vande Bharat Mission) to evacuate Indians stranded in different countries (due to the COVID-19 pandemic).
“Based on the preliminary evaluation, I’m moderately assured that Jet Airways ought to be capable of supply two Boeing 777-300ER plane to begin with, going as much as 4 plane, inside an inexpensive time frame, to take part within the Vande Bharat Mission…,” the letter said.
A copy of the letter has also been marked to Civil Aviation Secretary Pradeep Singh Kharola, aviation regulator DGCA’s chief Arun Kumar and State Bank of India Chairman Rajnish Kumar.
The current status of the proposal could not be immediately ascertained.
Srinivas and Chhawchharia were not available for comments.
Currently, Jet Airways has 12 aircraft that are either owned outright or are under a financing arrangement.
“Out of the prevailing fleet, one Airbus A330-200 plane is at present operated by Air Serbia (underneath a sub-lease association), whereas one Boeing 777-300ER plane is at present parked in Amsterdam. The remaining 10 plane are parked at varied airports in India,” the letter stated.
The deadline for completion of Jet Airways’s insolvency decision course of has been prolonged until August 21 because of the lockdown. Earlier this month, contemporary Expressions of Interest (EoIs) for the airline have been invited and the deadline for submission is May 28.
https://pubstack.nw18.com/pubsync/fallback/api/videos/recommended?source=n18english&channels=5d95e6c378c2f2492e2148a2&categories=5d95e6d7340a9e4981b2e10a&query=Embattled,Jet,Airways,Offers,Two,Boeing,Planes,to,Repatriate,Indians,Year,After,Suspending,Services,coronavirus,pandemic,Jet,Airways,&publish_min=2020-05-23T17:14:30.000Z&publish_max=2020-05-25T17:14:30.000Z&sort_by=date-relevance&order_by=0&limit=2
Discover more from News Journals
Subscribe to get the latest posts sent to your email.
