Experts warn that the new government at the Centre could have social unrest and political chaos to contend with if measures to contain continued job losses are not taken on an urgent basis
Currently, Air India operates two flights to Dubai: a B787 plane from Delhi and an Airbus A320 aircraft from Mumbai.
A case in point is Jet Airways India Ltd, where banks insisted promoter Naresh Goyal to pledge his shares with lenders when the latter couldn’t honour debt payments.
SBI Caps is the transaction advisor for the lenders of Jet Airways and managing the stake sale process for the debt-laden carrier.
Asked if there are investors other than those who have submitted unsolicited offers, Kumar said that there are some but their seriousness will have to be checked.
Already, 85 of Jet’s 119 aircraft have been de-registered; many of these have now been leased to other airlines such as SpiceJet.
The Gulf-based Etihad, which acquired 24 per cent stake in the then Naresh Goyal-promoted carrier in 2013, had two nominee directors, Kevin Night and Robin Kamark, on the airline's board.
Jet Airways witnessed top-level exodus earlier this week, with four senior executives, including chief executive Vinay Dube and his deputy Amit Agarwal, quitting the crisis-hit airline.
The airfares have risen dramatically on many international routes since Jet Airways suspended its operations on April 17.
Over 1,000 staff formulates a plan to forego salaries, take loans, buy the carrier’s stocks.
The airline said that the blockade on Qatar and withdrawal of 28 weekly flights between Doha and India has increased the pressure on available seat capacity.
With Jet Airways shutting down its operations on April 17, there has been sudden reduction in the number of flights connecting Indian cities with Qatar's capital Doha.
The total penalty imposed on the non-compliant companies is little over Rs 8.84 crore, according to NSE data.
Darwin Platform Group among others has offered Rs 14,000 crore to acquire the grounded airline, its CEO Rahul Ganpule said.
After a weak opening, the scrip further tumbled 6.85 per cent to Rs 120.25 -- its 52-week low -- on the BSE.