India Taps Indebted Jet Airways’s Rivals to Take Over Planes
- SpiceJet is said to mull taking over 40 of Jet Air’s planes
- Lenders to make every effort to keep Jet Air afloat: SBI
The livery of an aircraft operated by Jet Airways India
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
India is mulling options to save jobs at Jet Airways India Ltd. including asking low-cost carrier SpiceJet Ltd. to consider taking over some of the debt-laden company’s aircraft, people with knowledge of the matter said.
The proposal involves SpiceJet, led by Chairman Ajay Singh, acquiring as many as 40 of Jet Airways’ grounded planes that are owned by lessors, one of the people said, asking not to be identified as discussions are preliminary. The government has also reached out to other carriers, the person said.