The Central government on Thursday ruled out raising funds for the beleaguered Jet Airways and asserted that its revival was now possible only under Insolvency & Bankruptcy Code (IBC).
“Each airline prepares its business plan on the basis of its own market assessment and liabilities. Mobilizing financial resources and ensuring efficient operations as per business plans are the responsibilities of the airline,” Civil Aviation Minister Hardeep Singh Puri informed the Lok Sabha.
“The government has no role in raising funds for Jet Airways (India) Limited, as it is an internal matter of the airline,” he added.
In a written reply, the Minister said that the State Bank of India has filed an application under the Insolvency and Bankruptcy Code, 2016 Read More