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Business Headlines : Can elections save Jet Airways?

The latest Jet Airways saga that has plagued the airline industry and has been making waves as it is a very high profile case and has been one of the country’s premier airlines for years; and secondly, it comes hot on the heels of a closely fought election, and the fact that jobs of roughly 22,000 employees are at stake, it becomes a politicised issue. Many issues have plagued the airline recently such as a strike by its pilots union, resignation of an independent director, cancellation of international flights, no clarity on who the new owner is going to be and delay in receipt of interim funding. Therefore, taking all things under consideration, common sense would dictate that Jet Airways be taken to bankruptcy court via the IBC process considering the state of its affairs. However, the prospect of 22,000 employees having to look for jobs just at the start of a seven phase election seems to give us a clue as to why lenders have opted for a restructuring plan instead, and are even considering pumping in an additional 1,500 crore ₹, suggesting that Jet Airways could have become a beneficiary of the an election season in which unemployment is anyways a major issue. #JetAirways #Naresh Goyal #NarendraModi

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