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New default: Jet Airways is already under pressure


New default: Jet Airways is already under pressure

Indian private airline Jet AirwaysThe suras & # 39; oznyh financial difficulties, missed repayment of the loan in the amount of $ 109 million due to HSBC this week, according to sources close to the dossier.

Money due on 28 March and was part of two tranches of a means of payment in the total amount 140000000 the company borrowed from HSBC in 2014. Jet also missed to pay the other $ 31 million, which was on 11 March. So she paid any amount of the loan.

This last episode adds to a series of setbacks for the Indian media that immobilized about two-thirds of its fleet with 119 aircraft in total. For the Indian government, the airline folder with debt and competition from lower cost is crucial. Its collapse could jeopardize some 23,000 jobs and especially harm the image of the Prime Minister & # 39; EPA Narendra Modi to his bid for reelection.

Etihad Airways which owns 24% Jet Airways and even abstracted, does not pass the portfolio of collateral. Under pressure, the consortium of Indian lenders so trying this month to bring up to 15 billion rupees (217000000) The financing of debt relief, subject to resignation of the president and founder of Jet Airways, Naresh GoyalFormer agent of the ticket, which is then built one of the largest Indian Airlines this week filed under pressure to resign.

a new operational plan Jet Airways long-term focus on improving revenue and cost optimization "As a fundamental basis for the creation of the airline healthy and sustainable growth." The recovery plan includes interdisciplinary sector in addition to the business plan that takes advantage of the company's fleet, its resources, flight plan and its network. Within this framework, lenders will also open the process of sale / issue of shares for new investors; a process that should be completed in the second quarter.

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