Group Of Frequent Flyers Proposes Revival Plan For Jet

PUBLISHED ON: May 7, 2019 | Duration: 2 min, 23 sec

  
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A group of nine professionals have proposed to make the now-grounded Jet Airways an employee- and passenger-owned airline, sources told NDTV. The group of professionals represents the minority shareholders of the cash-starved carrier, and some of its members have been frequent flyers of Jet Airways in the past. Struggling with a debt of more than $1.2 billion, the airline - which suspended all its flight operations last month - owes money to lessors, suppliers, pilots and oil companies. Jet Airways' group of lenders have taken a controlling stake in the airline, and are currently in the process of selling a stake to recover their dues.
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