Banks, lenders working to resolve Jet Airways crisis, avers Suresh prabhu

Union civil aviation minister Suresh Prabhuwhile characterising the problems faced by Jet Airwaysas financial, said banks and the lenders are working on it. “We (the ministry of civil aviation) are proactively working with everybody who needs (our) support and help, whether they are employees, customers, or whether they are passengers to ensure safety and convenience of passengers as well as welfare of employees,” he said.

Interacting with media on Monday, Prabhu said, “Essentially (it) is a financial crisis which is supposed to be dealt with. The present issue is lenders have to work with the shareholders.” The loss-making airline is now under management control of SBI-led consortium of lenders under a debt-recast plan approved by its board last month. Jet Airways independent director Rajshree Pathy quit on Saturday, the airline said in an exchange filing.  Read More

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