A proposed infusion of Rs 1,000 crore into Jet Airways may prove to be “too little too late” to save the airline as it might require at least Rs 10,000 crore to stay afloat, industry observers said on Friday.
According to industry estimates, Jet’s total debt of Rs 8,000 crore in addition to payables such as vendors’ dues worth Rs 15,000 crore, would require something more substantial than just Rs 1,000 crore that a consortium of public sector banks might muster up.
“The airline alone has estimated advance ticket sales of Rs 1,500-2,000 crore. There are total payables and debt of Rs 25,000 crore. Anything short of Rs 10,000 crore might not have a dent on the current situation that the airline is going through,” said an industry source.
