Jet Airways CEO Says Will Leave No Stone Unturned To Revive Airlines

CEO of Jet Airways Vinay Dube said that the air carrier was doing all it can and is in constant touch with the lenders and the government to find a solution to the current crisis it is facing. The company had asked for loans in the tune of Rs 10 billion to clear the debt and to operate the airlines. But as per reports from a leading source, after the initial round of discussions most of the bidders who were shortlisted backed out of the complete bidding process which is likely to be completed by 10th of May. On Wednesday, the airlines stopped all its operations after State Bank Of India and other lenders said that they will no allot more funds for the carrier’s operations to continue.

In order to secure money, the Chief Executive Officer of the airlines Vinay Dube said, “We are in constant touch with the lenders on how to get it done in a manner that makes sense for them and makes sense for us.” He further added, “I would like to think that flying a Jet Airways makes definite sense for banks because it preserves their value as well. So we are not talking about anything that does not make good economic sense for the lenders this is not charity for the sake of it.”

Dube in the same interview said that the company will make all possible efforts to ensure that the airline becomes operational. He said, “We understand the bank’s position. This is a financial proposition for them as well, and we are in constant touch with them, and we will be. For us, there is no stone that we will leave unturned. We believe in Jet Airways we will do whatever we can to make people also believe us.”

Meanwhile, the government is ensuring that the vacant slots that the grounding of Jet Airways flight is used and has ordered a committee to be formed to look into the allocation. But Dube in an interview said that the move was only for the time being till the operations are resumed after which the airlines will get back its slots. He said indicating that the slots are not yet taken from them saying, “While we have a combination of aircraft that are being deregistered or early terminated, the majority of them have not left the premise.”

The CEO said that he was confident that the company will be able to find an investor who can bring the airlines back on its feet.


Mary Conn has been a news writer for last 10 years. Recently she joined FinanceThrive team as a news editor. She regularly contributes in-depth news articles of finance industry covering personal & government financing, investment, business, economy and stock market.

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