Business News/ Companies / News/  NAG file SC petition to rescue grounded airline

New Delhi: Jet Airways (India) Ltd’s pilots union, the National Aviators Guild (NAG), has approached the Supreme Court, asking it to help rescue the grounded airline.

The petition filed by NAG on Tuesday sought an appropriate order from the apex court directing the SBI ‘to provide all necessary interim finance’ to restart the airline.

The petition lists eight respondents, including the government of India, State Bank of India (SBI), directorate general of civil aviation (DGCA), Jet Airways, and the Airports Authority of India, besides Mumbai International Airport Ltd, Delhi International Airport Ltd, and Bengaluru International Airport Ltd.

A copy of the petition, which has been filed days before the 10 May deadline for submission of bids for a controlling stake in Jet Airways, has been reviewed by Mint.

Jet Airways flew its last flight on 17 April after lenders decided not to hand out emergency funds, bringing the curtains down on an era in which it broke into a state monopoly sector to become India’s largest private airline at one point.

NAG in its petition has blamed the SBI-led consortium of banks for failing to inject Rs1,500 crore into the airline, thus forcing the carrier to suspend operations. NAG has asked the apex court to direct the lenders to release money and restart operations immediately.

The pilots’ union said the respondents are acting in a manner that violates the rights of the employees of Jet Airways.

Also read: Jet’s promoters may face fund diversion probe

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Updated: 07 May 2019, 10:13 PM IST
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