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The New Indian Express Hyderabad 08 05 2019 Page 10
The New Indian Express Hyderabad 08 05 2019 Page 10
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EX P R ESS N E WS S E RV I C E @ New Delhi employees since last December. seriously undermined the value
The Board of Directors of the of the company,” the plea said.
THE Jet Airways pilots’ union company had approved a plan The petitioner alleged that au-
approached the Supreme Court on March 25 which envisaged thorities had failed to appreciate
on Tuesday, asking it to inter- infusion of Rs 1,500 crore over a the value of company, which lies
vene and effectively rescue the period of time by State Bank of in the flight slots and seats avail-
airline, days before the deadline India so that the company could able in the international sector
for bids expires on May 10. Na- be sold as a going concern, but through various bilateral
tional Aviators Guild (NAG) the promised funds were agreements.
sought direction to SBI to pro- not disbursed, the plea With fewer slots and
vide the assured interim finance said. The plea claimed aircraft, Jet Airways
for restarting operations, sus- that SBI’s decision not employees expressed
pension of which has affected to infuse money was re- concern that none of
the livelihood of around 22,000 sponsible for the opera- the bidders will find
employees. tions of the airlines com- the airline attractive as
Demanding that the airline ing to a stop and its an asset. Meanwhile, the
not get deregistered, the plea substantial devaluation. ex-chairman of Jet Airways,
also sought a direction to the “Despite the fact that an ex- Naresh Goyal, wrote yet another
Centre and the Director General pression of interest has been emotional letter to the employ-
of Civil Aviation (DGCA) not to invited and bid process to find a ees of the airline, saying he
allot slots of Jet Airways to oth- new purchaser is under way, the hoped and prayed “that the
er airlines on a permanent ba- Centre and DGCA have already banks will finalise the bidders
sis. The distressed airline, which started allotting slots of Jet Air- on the 10th of May and move for-
had 115 aircraft, started suffer- ways in various airports to oth- ward in the interest of all
ing losses and has not paid its e r a i rl i n e s, wh i ch h a s employees.”