New Delhi: Jet Airways (India) Ltd's chairman Naresh Goyal told the airline's pilots on Monday he would need "a further short time" to finalize a rescue deal for the cash-strapped Indian carrier as the process is complex.
In a letter, Goyal said that he is "committed to have the process completed as soon as possible and restore much needed stability" to the airline's operations, and that he would make it a top priority to settle delayed salary payments for pilots and some other staff once a deal is finalized.
He also said that talks for the rescue deal with the airline's biggest shareholder, Etihad Airways PJSC, and lenders, led by State Bank of India (SBI), are ongoing.
Saddled with debt of more than $1 billion, Jet Airways is struggling to stay afloat. It has delayed payments to banks, suppliers, pilots and lessors—some of whom have forced the airline to ground as many as 40 planes.
On Monday, Jet Airways shares rose 0.87% to ₹237 apiece on the BSE while the benchmark Sensex gained 0.17% to end the day at 38,095.07 points.
