Banks are engaging with us: Jet Airways CEO Vinay Dube

Published - April 13, 2019 12:01 am IST - Mumbai

Jet Airways CEO Vinay Dube on Friday said that significant interest and credible EoIs have been received by the banks.

In a late evening mail to employees, Mr. Dube said the banks continue to engage with the interested parties and that he expects more clarity to emerge in the coming week.

“While all of this falls into place, we unfortunately have had to cancel several flights including our wide-body operations through Monday afternoon. These cancellations were because we did not receive the much-needed funding required to keep this part of our network flying,” the Jet CEO said.

Mr. Dube informed employees that as a result, only seven aircraft continue to operate on the domestic network.

The CEO, apologising on behalf of the entire leadership team, said “I would like to express our sincere apologies to our guests for the inconvenience caused and remain overwhelmingly grateful to them for patronizing us during these trying times.

“We also remain eternally grateful to you - our passionate and dedicated employees - who, in the face of adversity, have demonstrated perseverance and remained steadfast in the commitment to keep our airline going. I would like to assure you that our topmost priority continues to be the disbursement of your salaries,” Mr. Dube said in his mail.

Earlier this week, Mr. Dube wrote to employees about the two processes that they had embarked upon: “secure funding to sustain and increase our current level of operations along with prioritising payment of your respective salaries. The second process was to continue with our ongoing efforts to support the banks in bringing fresh equity into the Company.”

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