INSUBCONTINENT EXCLUSIVE:
by change in management as they feel collapse of the airline will not be good for consumers and competition, a source said after the SBI
chief met Finance Minister Arun Jaitley on Wednesday
With Jet flying just about a third of its fleet, defaulting on interest payments and delaying salaries to pilot, State Bank of India
Chairman Rajnish Kumar along with Aviation Secretary Pradip Singh Kharola and Principal Secretary to Prime Minister Nripendra Misra met Mr
He, however, emphatically stated that it was in the interest of the lenders to keep Jet Airways, which was once the country's
second-biggest airline, flying and dragging the debt-ridden firm under bankruptcy proceedings is the last option.In case the airline
collapses, 23,000 jobs would be at stake.Though Mr Kumar refused to share details of the lenders' revival plan, the source said that Jet
Airways lenders resolution plan may include change in management as they feel it is not possible to run the company with present
management.Jet Airways is headed by Naresh Goyal, who currently holds 51 per cent stake
Abu Dhabi-based Etihad Airways has 24 per cent.On getting a new player in Jet Airways, Mr Kumar said, "No possibility is ruled out"
"The dialogue with Etihad is on
It is not that they have conclusively decided that they will go out
But there are certain conditions which they want to be fulfilled and it is nothing but that the airline should be professionally managed and
currently available for operation and there may be "further attrition" of flights "in coming weeks"
41 aircraft is just one-third of Jet's fleet of 119 planes.Get the latest election news, live updates and election schedule for Lok Sabha
Elections 2019 on TheIndianSubcontinent.com/elections
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