Opinion | Jet Airways needed one rupee to avert this tailspin3 min read . Updated: 05 Jan 2019, 02:35 AM IST
There are probably only a handful of good options now. Either Etihad doubles down by making a fresh investment; or the board finds a new owner who infuses equity by diluting Goyal and Etihad
All Jet Airways India Ltd ever needed was 1 rupee, or just 1.4 U.S. cents, for providing hot meals and cold towels. Since even that modest goal has proven elusive, India’s longest-surviving private airline now needs bankers with spine to keep flying. It’s been clear for some time that Jet, falling behind even on pilots’ wages, was going to skip a debt payment soon. Now that a default on bank loans has finally happened, let’s spend a minute on the brutal economics of the missing rupee.
Select your Category