The last time the government bought an airline goes as far back as as the 1950s when Tata run Air India was nationalised. A similar scenario is brewing in 2019, only it is a lot different. There is a buzz that Jet Airways may well be ”nationalised”!
However, as we said, the situation is different. This may well happen, but that is through its lenders – Jet Airways owes crores to its lenders. This is gradually becoming clear as a new resolution plan has been finally accepted by the private carrier’s board.
For the current ‘pilot’ of Jet Airways, Naresh Goyal, this will be a sad event as although his airline has finally got a lifeline, yet it is on the verge of slipping away from his hands.
It may happen that Goyal will no longer be able to retain control of Jet Airways. On Friday, the share price of Jet Airways rose by nearly 8% after touching an intraday high of Rs 242.85 per piece. Read More