Jet Airways has been grounded for now, even as its lenders and the management remain hopeful of a buyer coming forward to resuscitate the moribund airline. This is easier said than done, however good the intentions of all the stakeholders involved in its rescue may be.
A sizeable number of Jet’s aircraft have been repossessed by lessors and most of its most coveted airport slots – international as well as domestic – have been farmed out to other airlines since airports remain capacity constrained and they cannot afford to wait in perpetuity for an airline to use these precious slots.
Employee salaries remain unpaid for several months and dues to vendors on top of the overall debt on the airline’s balance sheet are daunting, for even an intrepid investor. Read More