Business

Vistara and Air Asia Benefitted by Jet Airways Crisis

Monali Gupta

Nearly two-thirds of Jet Airways' airlines, which is struggling with the financial crisis, are not accessing their flights. Because of this, the passengers are facing trouble on different routes of the country. Meanwhile, Tata Group's airline company Air Asia and Vistara have announced 11 new flights from Mumbai. Actually, the leasing slots of Jet Airways were issued at the Mumbai airport, after which the Vistara has announced 5 new flights between Mumbai-Bangalore.

Apart from this, an additional flight will also be operated from Mumbai for Hyderabad and Kolkata. These flights will be operated between 16 April and 15 July. Let us explain you that the Vistara currently flies from Mumbai to Delhi and Amritsar. According to Business Standard, AirAsia has announced 3 additional flights from Mumbai to Bangalore. Apart from this, it will also start a new flight from Mumbai to Kochi from April 15.

There is uncertainty about the future of Jet Airways, who are trapped in the crisis, and fewer than 30 of them currently operate in the air. Meanwhile, Jet Airways lenders have asked to invite the bid on April 6 for the sale of the airline. The lenders have also said that if the 'acceptable result' of the stake sale does not come, the group of financial institutions led by State Bank will consider other options. Jet Airways has the debt of Financial Institutions over 8,000 Crore.

Let us tell you that Jet Airways' board of directors took a majority stake in the airline and announced a capital infusion of Rs 1,500 crore under the debt relief scheme approved on March 25. Apart from this, along with the founder and founder of the airline, Naresh Goyal, his wife Anita Goyal resigned from the board of directors. Goyal's share has also come down from 51 percent to 25 percent.

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