SBI’s takeover of Jet’s operations is unprecedented in India. But will it give wings to the ailing airlines?
CAN a banker fly an aircraft? Rhetorical as it may sound, the question still demands an answer. More so in the curious case of the loss-making and debt-laden Jetairways, the latest case of a fairytale story gone awry. In an unprecedented move, a consortium of banks led by the State Bank of India (SBI) has taken over the airlines to manage its day- today operations till they find a suitable buyer. Jet has already seen the forced exit of its founder Naresh Goyal, a former ticketing agent who set up the airlines 25 years ago. Industry experts are surprised by SBI’s move. “Such a practice has been adopted in the past for smaller companies—worth Rs 100 or 200 crore—but not for a big company like Jet Airways, whose debt amounts to over Rs 10,000 crore,” says a.K. Ralhan, former chief operating officer of the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSaI).
Denne historien er fra April 15, 2019-utgaven av Outlook.
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Denne historien er fra April 15, 2019-utgaven av Outlook.
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Layers Of Lear
Director Rajat Kapoor and actor Vinay Pathak's ode to Shakespeare is an experience to behold
Loss and Longing
Memories can be painful, but they also make life more meaningful
Suprabhatham Sub Judice
M.S. Subbulakshmi decided the fate of her memorials a long time ago
Fortress of Desire
A performance titled 'A Streetcart Named Desire', featuring Indian and international artists and performers, explored different desires through an unusual act on a full moon night at the Gwalior Fort
Of Hope and Hopelessness
The body appears as light in Payal Kapadia's film
Ruptured Lives
A visit to Bangladesh in 2010 shaped the author's novel, a sensitively sketched tale of migrants' struggles
The Big Book
The Big Book of Odia Literature is a groundbreaking work that provides readers with a comprehensive introduction to the rich and varied literary traditions of Odisha
How to Refuse the Generous Thief
The poet uses all the available arsenal in English to write the most anti-colonial poetry
The Freedom Compartment
#traindiaries is a photo journal shot in the ladies coaches of Mumbai locals. It explores how women engage and familiarise themselves with spaces by building relationships with complete strangers
Love, Up in the Clouds
Manikbabur Megh is an unusual love story about a man falling for a cloud. Amborish Roychoudhury discusses the process of Manikbabu's creation with actor Chandan Sen and director Abhinandan Banerjee
