at Least one of the chronically distressed Indian airlines sees light at the end of the tunnel: the private Jet Airways is a Partner of Lufthansa German airlines, has not paid for weeks, your bills and loans not supported. Also, wages for employees and fees for leased machines to the Jet guilty. Due to their financial problems, the Indian media had reports of eight Boeing 737 aircraft to the Leasing company back in surrender. So Jet Airways is not alone in this: The state-owned rival Air India had since mid-December, 15 of his 123 the machine is down, because he has no money for spare parts, according to the government. A rescue plan is still just as open as the search for investors. Lufthansa had brought to the sick at the end of the airline in the global aviation-Federal Star Alliance.
Economics correspondent for South Asia/Pacific, based in Singapore.
F. A. Z.
Meanwhile, the banks try to some in order to save Jet before it Broke. The airline is sitting on almost a half-billion Dollar loan amount, the can use. Overall, the debt is expected to be around 1.2 billion dollars. The Management described this as a “temporary cash flow mismatch”. During the rescue attempt on Board Etihad’s Airways from the United Arab Emirates. The closely with Lufthansa linked airline holds 24 per cent in Jet. For the government of India, Minister of state Jayant Sinha had rejected the help, as this is a task for the private sector – however, including the state banks.
The State Bank of India (SBI), presented a 900-million-Dollar rescue plan for the Jet, reports the business newspaper Mint. The core of the Plan: The share of the founder, the Indian aviation legend Naresh Goyal, will fall under the current majority of 51 percent. I understand that the shareholders are Etihad and Goyal will be applying a fresh $ 450 million to the rescue. A further $ 450 million will be structured by the banks – so in the longer run, times changed, with a lower rate of interest considered or written down. By the end of March of the Plan. Until April, but Jet Airways will first need to not operate any schools. Some evidence suggests that Etihad will now expand their shareholding on the maximum limit of 49 per cent. Because in spite of the enormous problems that the Indian airlines for years, and remains the market with high growth rates continue to be also interesting for foreigners. Jet Airways itself had tried to sell shares to the Indian Tata group. You, together with Singapore Airlines, the Indian establishment Vistara.