New Delhi: Less than 15 aircraft of Jet Airways are currently operational, Civil Aviation Secretary P S Kharola said on Wednesday.
The SBI-led consortium of lenders had taken over the management of the cash-hit Jet Airways last month.
Asked about the active fleet of the beleaguered airline, the Civil Aviation Secretary said here that “yesterday, it was 28”.
On the airline informing stock exchanges on Tuesday evening that 15 more aircraft have been grounded, Kharola said the current fleet “would be less than about 15”.
The airline has around 119 aircraft in its fleet. In the last few weeks, the airline has been grounding its aircraft in tranches due to non-payment of dues to lessors.
Regarding funding issues of the airline, Kharola – who was speaking on the sidelines of an event – said, “The issue is between bankers and Jet management. So they are discussing with each other.”
The private carrier Tuesday said it has grounded 15 more aircraft due to non-payment of rentals to lessors.
Till last month, the Mumbai-headquartered airline, which is now under the new ownership, had taken 54 planes out of operations due to lease rental defaults.
On March 25, Jet Airways’ board approved a resolution plan formulated by SBI-led domestic lenders. Under the plan, lenders decided to take control of the airline and make a fund infusion of Rs 1,500 crore.
Also read: A bailout for Jet Airways will fill Indian skies with zombie airlines
This is clearly a Mayday situation. The bankers may have stepped in – at the government’s request – to prevent a collapse at an awkward moment in the electoral calendar. However, they simply do not have the managerial expertise to run Jet. It is also very unlikely – although not impossible – that a serious buyer with deep pockets will emerge in the next couple of months. The banks are left holding the baby, it needs a lot of feeding and nappy changes. If Naresh Goyal could not run Jet at a modest profit, not sure who else in the world can.