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Jet Airways

Govt has no role in raising funds for Jet Airways: Minister Hardeep Singh Puri

New Delhi | The Union Government today sidelined itself for the Jet Airways crisis saying that the government has no role in raising funds for the in debt Jet Airways.

Responding to a question in Lok Sabha, MoS( Independent Charge) for Civil Aviation Hardeep Singh Puri said, Government of India has no role in raising funds for Jet Airways (India) Limited, as it is an internal matter of the airline.” Claiming it to be the responsibility of the Airline, Puri added,” Mobilizing financial resources&ensuring efficient operations as per business plans are the responsibility of the airline.”

State Bank of India-led consortium of lenders had earlier decided to send the grounded Jet Airways to the National Company Law of Tribunal (NCLT) as they have not yet received any concrete proposal for the airline. The decision was taken after a meeting of the lenders.

Jet Airways owes more than Rs 8,000 crore to a consortium of banks led by the State Bank of India while it has a much larger debt pile by way of accumulated losses to the tune of Rs 13,000 crore and vendor dues of over Rs 10,000 crore and salary dues of over Rs 3,000 crore.

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