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India: Jet Airways


We learnt of the resignation of the Jet Airways Delegate CEO Mr Sanjiv Kapoor on Friday and other members of the senior leadership team last week, in addition to watching events fold over the last year, or so.


The situation with the Jet Airways relaunch is indeed a complicated one but in terms of rationalisation it is very clear that there are 2 elements of dues that the current suitors need to clear in order to move forward with the transaction, namely; the clearance of statutory dues regarding staff payments and the amount due creditors.


Key dates to look out for are the 15th and 19th of May, the creditor debt payment is due to be completed by the 15th May and the AOC expires on the 19th May.


With the resignation of key postholders it is difficult so envisage the AOC being renewed in time and therefore any relaunch of the carrier will indeed be delayed further.


Without bringing any names to the fore, dre aviation have over the weekend tried to reach out to the suitors to lend assistance in the transaction but as of yet we have had no response.


dre aviation will do anything possible to see the relaunch of the carrier and the reinstatement of the thousand of jobs related to the aviation eco system in India that have been affected by Jet Airways grounding.


We hope that the deal completes by the 15th May, failing that we will reassess the situation and look at the opportunity as an independent third party.


dre aviation

London


Ends.







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