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Jet Airways Saga Buyers Await Regulator’s Scrutiny Of Airline’s Flying License

Jet Airways Saga Buyers Await Regulator’s Scrutiny Of Airline’s Flying License

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  1 July 2019 10:31 AM GMT

New Delhi: With prospective buyers lining up to take a shot at bagging Jet Airways cheap, its prime asset — the flying license — is under the aviation regulator’s scrutiny that might derail the NCLT-backed resolution process.

Industry insiders privy to the development say that buyers are waiting for the final word from the regulator which is expected to be announced on July 16.

Even the bankers to the now grounded airline are nervous. A revoked Air Operator Certificate (AOC) will render lower than expected recovery from the airline which has an outstanding of over Rs 8,000 crore.

A meagre return will be equivalent to bank’s taking a massive haircut, somewhere in the tune of over 90 per cent.

However, since the NCLT has stated that matter of resolution at Jet Airways is considered to be of “national importance”, the resolution professional is widely expected to request the aviation regulator to extend the AOC’s validity. (IANS)

Also Read: Damage By Jet’s Failure Could Have Been Averted: Vineet Narain

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