Even though the lenders are bringing in interim funding of ₹1,500 crore to Jet Airways, issues for the airline are far from over believe analysts.
Dhiraj Mathur, Partner and Leader, National Aerospace and Defence Practice at PWC, said, “The investment will run dry in the next one month; hence, it is important to find an investor soon who would get a concrete plan.” An interim committee will run the company till the time a new investor is on board.
The airline has a gross debt of over ₹8,400 crore, with SBI being its biggest lender. SBI’s exposure is said to be close to ₹2,000 crore. Salaries of 87.5 per cent of December 2018 salary along with 100 per cent salaries of January and February 2019 are pending for pilots along with over three months of salaries pending of engineers and ground staff.
