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Jet Airways' temporarily shutdown a setback for Indian aviation: Air India chief Ashwani Lohani

With lenders not extending emergency funds, cash-starved Jet Airways, which has been flying for over 25 years, yesterday announced temporary suspension of operations

twitter-logo PTI   New Delhi     Last Updated: April 18, 2019  | 07:56 IST
Jet Airways' temporarily shutdown a setback for Indian aviation: Air India chief Ashwani Lohani
The temporary closure of Jet Airways is a setback for Indian aviation and a sad day for all those in the business of flying, said Air India CMD Ashwani Lohani.

The temporary closure of Jet Airways is a setback for Indian aviation and a sad day for all those in the business of flying, Air India CMD Ashwani Lohani said Wednesday.

With lenders not extending emergency funds, cash-starved Jet Airways, which has been flying for over 25 years, Wednesday announced temporary suspension of operations.

"While sustained mismanagement definitely contributed, the fact remains that in the entire aviation eco-system, it is the airline that invariably remains at the receiving end while all other stakeholders make money," Lohani said in a Facebook post.

According to him, it is a sad day for all those in the business of flying in the country to witness a fine airline closing shop.

"We have in the past witnessed many airlines shutting shop and it is time to appreciate that the razor thin margins which airlines are forced to operate with in a competitive environment, results in a scenario that encourages unsustainability," he noted.

Lohani, who is helming state-owned Air India for the second time, also said the issue has no easy solutions, yet a solution would need to be found.

Air India, Jet Airways and Vistara are the only three full service carriers in the country.

Also read: Cash-strapped Jet Airways to suspend operations from tonight

Also read: Jet Airways crisis: Vijay Mallya accuses govt of discrimination against private airlines in India

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