(Video) Rajya Sabha TV (RSTV) The Big Picture: Jet Turbulence

Topic: Jet Turbulence

Guest:

Sanat Kaul, (Former Joint Secretary, Ministry of Civil Aviation)
Ajay Dua, (Former Secretary, Ministry of Commerce & Industry)
Ganapathy Subramaniam, (Chief of Bureau, Puthiya Thalaimurai)

Topic Description:

Bankruptcy is the “last option” for Jet Airways, State Bank of India’s chairman said on Wednesday, adding that it might still be possible to draft in a new investor to keep the airline flying. The SBI chief said that a resolution plan is “almost” ready and that it would not involve a bailout for any individual, including the airline’s founder and Chairman Naresh Goyal. Jet has more than $1 billion in debt, and owes money to banks, suppliers, pilots and lessors - some of whom have started terminating leases with the carrier. Talks with Etihad Airways, Jet’s largest shareholder, to secure a rescue deal are also ongoing, the SBI chief said, adding that the Abu Dhabi-based airline has not “conclusively” decided to exit the venture. Etihad had earlier said that if it were to invest more money then the Jet’s founder Goyal must step down and take a less prominent role.