ADVERTISEMENTREMOVE AD

No bail-out for Jet Airways, management needs to run airline smothly: Minister

No bail-out for Jet Airways, management needs to run airline smothly: Minister

Published
Hot News
1 min read
story-hero-img
i
Aa
Aa
Small
Aa
Medium
Aa
Large
Hindi Female
ADVERTISEMENTREMOVE AD
New Delhi, Nov 19 (IANS) The Central government on Monday ruled out the possibility of providing any financial bail-out or leeway to cash-strapped Jet Airways, stating that it's the prerogative of the company's management to implement policies to ensure smooth functioning of the airline.
According to Civil Aviation Minister Suresh Prabhu, the government looks at sector-specific issues in the current de-regulated policy environment.
Prabhu was answering questions on a possible bail-out package for the airline at the launch event of the upgraded version of "AirSewa 2.0 web portal and mobile app" here.
Besides, Civil Aviation Secretary R. N. Choubey said that the airline wanted some time to pay charges of the airport operators.
However, Choubey said the issue has to be sort out between the airline and the airport operators and that the ministry has no role in such commercial deliberations.
Currently, the airline is facing financial troubles due to an increase in Brent fuel, along with a weak rupee and a mismatch between high fuel prices and low fares.
On November 16, Tata Sons, the holding company of the Tata Group firms, said discussions on acquiring a stake in the financially troubled airline are at a preliminary stage and that no such proposal has been made so far.
Reports of Tata's interest in Jet Airways had boosted its market sentiments, though it had in mid-October termed such reports as mere speculation.
Launched in 1993, the Mumbai-based Jet Airways currently operates on 66 domestic and international destinations with a fleet of 124 aircraft.
--IANS
rv/vm

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

0

Read Latest News and Breaking News at The Quint, browse for more from news and hot-news

Topics:  ians 

Speaking truth to power requires allies like you.
Become a Member
3 months
12 months
12 months
Check Member Benefits
Read More
×
×