The stake sale in JPPL, which manages Jet Airways’ customer loyalty program Jet Privilege, has been put on the backburner but the airline has identified a potential buyer for its aircraft as part of its resolution plan, a senior company official said Friday.
“We will continue to work on the stake sale in JPPL (Jet Privilege Private Limited) but not immediately and that is why it is not part of the resolution plan,” Jet Airways’ Chief Financial Officer Amit Agarwal said during a conference call for discussing the third quarter results.
Earlier this month, Jet Airways mopped up Rs 250 crore from advance sale of tickets to Jet Privilege, less than five months after raising money through the same route.
