INSUBCONTINENT EXCLUSIVE:
might require at least Rs 10,000 crore to stay afloat, industry observers said on Friday.According to industry estimates, Jet Airways' total
debt of Rs 8,000 crore, in addition to payables such as vendors' dues worth Rs 15,000 crore, would require something more substantial than
just Rs 1,000 crore that a consortium of public sector banks might muster up."The airline alone has estimated advance ticket sales of Rs
There are total payables and debt of Rs 25,000 crore
Anything short of Rs 10,000 crore might not have a dent on the current situation that the airline is going through," said an industry
source.The airline has lost ground in terms of market share, even as its pilots and crew are said to be approaching other airlines for
employment."This (Rs 1,000 crore) amount is not enough even to clear salaries and refund passengers for cancelled tickets," said another
sectoral expert.The industry reaction comes even as the airline's case is being viewed by top government officials.Sources say that
prospects of 16,500 employees of the airline losing their jobs ahead of the general election might just push PSU banks to extend a lifeline
till they find another investor.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on
TheIndianSubcontinent.com/elections
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