BUSINESS
As Jet Airways continue to face severe financial problems, Air India said Friday it would not accept any passengers that have got cancelled tickets of the former airline.
As Jet Airways continue to face severe financial problems, Air India said Friday it would not accept any passengers that have got cancelled tickets of the former airline.
Generally, when an airline cancels a flight due to some exigencies, other airlines accommodate the former's passengers in their flights. The airline, which has got its flight cancelled, has to pay other airlines for passengers accommodated.
"With immediate effect and till further notice, Jet Airways (India) Limited and Jet Lite Limited documents (including FIM and endorsed/involuntary rerouted/rebooked/exchanged/reissuedocuments) are not to be accepted for travel on Air India flights," said an order of Air India dated March 1. FIM stands for Flight Interruption
Manifest. Around 15 aircraft of Jet Airways have been grounded by the lessors due to non-payment.
Jet is trying to raise funds for its operations as it has a debt of around Rs 8,200 crore currently.
Moreover, its pilots have been threatening action as there have been delays in salary payment.
Meanwhile, Jet Airways Friday said its debt recast plan also contemplates appropriate governance structure including board composition, among other measures.
"...Along with the restructuring of the company, the Bank Led Provisional Resolution Plan (BLPRP), inter alia, also contemplates appropriate governance structure including Board composition," Jet Airways said in regulatory filing.
The filing was in response to a clarification sought from Jet Airways on reports of Jet Airways shares jumping 6 percent following reports of airline chairman Naresh Goyal stepping down.