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Efficient operations responsibility of individual airlines, says Sinha amid Jet crisis

Press Trust of India  |  New Delhi 

Efficient operations and financial performance are the responsibilities of individual and their shareholders, the civil ministry said Thursday amid grappling with financial crisis.

"As informed by Jet Airways, it is in the process of resolving its financial problems through negotiations with banks, financial institutions, lessors etc," of State for Civil told the Lok Sabha in a written reply.

The full-service carrier, which has completed 25 years of operations, is looking to restructure debt as well as raise funds. It is also making delayed salary payments to many of its staff.

Sinha noted that each prepares its own business plan on the basis of its own market assessment and financial resources.

"Based on its business plan, the efficient operations and financial performance is the responsibility of each individual and its shareholder," the said.

In a separate written reply, Sinha said certain have delayed payment of salaries to their higher salary category employees.

"These are in the process of resolving this through negotiations with banks, lessors etc," he added.

Details about the airlines concerned were not disclosed.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 07 2019. 19:10 IST