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Jet Airways will sort out everything to revive airline, said the CEO

Jet Airways will sort out everything to revive airline, said the CEO: CEO Vinay Dube recently said that he was optimistic of finding a keen, healthy investor. The CEO said that we are not speaking about something that does not make decent economic intellect for the lenders, Majority of Jet Airways aircraft deregistered have not left the foundation.

India’s Jet Airways is continually appealing with the government and lenders for a resolving of the present debt crisis and is not going to leave any stone unturned to recover the airline, its chief executive officer Vinay Dube told in an interview.

Dube said, “We are in constant touch with the lenders on how to get it (debt resolution) done in a manner that makes sense for them and makes sense for us.”

He further added, “But I would like to think that a flying Jet Airways makes definite sense for them (banks) because it preserves their value as well. So we are not talking about anything that does not make good economic sense for the lenders, this is not charity for the sake of it”.

The corporation has demanded banks for 10 billion rupees ($143.29 million), Dube said.

Previously in the day, newspaper Business Standard stated that all accepted bidders for the company had backed out of the bidding procedure that is due to complete on 10 May 2019.

On the other hand there are cash-starved Jet Airways, which has about 23,000 workforces, has overdue payment of salaries to the employees, as well as of the pilots. After months of insecurity, Jet Airways declared provisional hold-up of its operations on April 17 as it was unsuccessful to obtain emergency funds from lenders.

Dube, on the other hand, said he was confident of finding a keen, healthy investor who can introduce the necessary amount of equity into the company.

The government on the other hand plans to form a committee to provisionally assign take-off and landing slots left unoccupied by the foundation of Jet Airways flights, a senior official said last week.

Dube, still, said the government had guaranteed the airlines this was a short-term move and the slots is going to be secure for the airline as soon as they start flying all over again.

Dube said mentioning to the aircraft and said they are going to be accessible to the airline when it starts flying again. He stated, “While we have a combination of aircraft that are being deregistered or early terminated, the majority of them have not left the premise,”

He further added, “We understand the banks’ position. This is a financial proposition for them as well and we are in constant touch with them and we will be. For us there is no stone that we will leave unturned. We believe in Jet Airways, we will do whatever we can to make other people also believe in us.”