Jet Airways denies plans to sell stake
Jet Airways has denied it is planning a stake sale to prop up the business and rebuffed talk that it could be weeks away from running out of money.
Speculation has been rife that the airline’s cash reserves are almost depleted and that Jet is proposing to cut pilot salaries by as much as 25%.
CEO Vinay Dube says it is nothing but idle speculation.
"Jet Airways India Limited would like to clarify that recent media reports about the sustainability of the airline are not only factually incorrect, but also malicious. The airline would also like to deny any conjecture of a stake sale," Dube said in a statement.
"Indian aviation is experiencing strong growth and Jet Airways is well placed to be a part of this growth story.
"The airline is committed to creating a growth-oriented and sustainable future."
The airline confirmed there is significant cost cutting measures taking place and acknowledged part of it involves the staff payroll.
Jet is also looking to cut out unnecessary costs in sales and marketing and maintenance operations.
"Jet Airways has been in existence for over 25 years and through the years has been successful in combating such business volatility," the statement added.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025
U.S.A. and Israel attacks on Iran impact air movements in the Gulf (Update 1.00pm CET)
Global tourism exceeds 1.5 billion travelers announces UN-Tourism