Nation Current Affairs 30 Oct 2018 Jet Airways defaults ...

Jet Airways defaults on rentals

DECCAN CHRONICLE.
Published Oct 30, 2018, 1:27 am IST
Updated Oct 30, 2018, 1:27 am IST
The Airport Authority of India has issued a show cause notice to the airline over delay in rental payments.
Naresh Goyal and his wife, own 51 per cent stake while UAE-based Etihad  Airlines owns 26 per cent stake in the company. (Representional Image)
 Naresh Goyal and his wife, own 51 per cent stake while UAE-based Etihad  Airlines owns 26 per cent stake in the company. (Representional Image)

Hyderabad: The Airport Authority of India (AAI) has pulled up Jet Airways for defaulting on rentals on its leased aircrafts. The AAI has issued a show cause notice to the airline over delay in rental payments. Out of its 124 aircraft, as many as 108 are on lease, the report said.

The airline earlier has  issued pink slips to around 20 employees in order to cut down on its expenditure.

 

According to reports, the airline had reportedly approached the Tata Group for over 25 per cent stake sale, but the Tata Group wanted complete control over the airline, with the exit of its current promoters, including airline owner Naresh Goyal’s family.

Naresh Goyal and his wife, own 51 per cent stake while UAE-based Etihad  Airlines owns 26 per cent stake in the company.

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Location: India, Telangana, Hyderabad




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