NEW DELHI: Amid Jet Airways facing turbulent instances, civil aviation minister Suresh Prabhu has made it clear that private airlines need to maintain issues facing them on their very own and the government's function can best be on the policy degree.
The minister's feedback come at a time when the airline industry is grappling with tricky instances as high oil prices and stiff festival are crimping the profitability of carriers.
When requested about the present scenario at Jet Airways, Prabhu mentioned, "We are not aware about their position."
The full service service, which has been flying for over 25 years, is facing monetary woes. Earlier this month, it also deferred the announcement of June quarter effects. The airline's share value has taken a beating in contemporary weeks.
"We are not aware about their (Jet Airways) position. As far as private airlines are concerned, they will have to deal with whatever issues they are dealing with. At the ministry of (civil) aviation we can only deal at the policy level," Prabhu told PTI in an interview.
Jet Airways is facing monetary tension and on August 9 the corporate held off from announcing the unaudited monetary effects for the June quarter.
The airline's board is scheduled to fulfill on August 27 to consider and approve the unaudited monetary effects for the first quarter ended June 30. The service could also be below the scanner of markets regulator Sebi for alleged disclosure lapses.
Shares of the airline tumbled nearly 4 in line with cent these days after studies that the ministry of company affairs ministry is having a look into alleged fund diversions on the service.
In a regulatory filing, Jet Airways mentioned it "has not received any communication from the ministry of corporate affairs in this regard".
About the overall scenario in the airline industry, the minister mentioned that on every occasion the gas prices pass up, the airlines get badly affected as a result of this can be a variable value and cannot be absorbed into trade type immediately.
"Now, we will have to work on it. Not only India but globally. Some of the global airlines are facing serious problems. We have no control over the oil prices. One of the things we are trying to pursue is to put the ATF (Aviation Turbine Fuel) into the GST," he mentioned.
The civil aviation ministry has been working on efforts to bring jet gas below the Goods and Services Tax (GST) regime.
The minister's feedback come at a time when the airline industry is grappling with tricky instances as high oil prices and stiff festival are crimping the profitability of carriers.
When requested about the present scenario at Jet Airways, Prabhu mentioned, "We are not aware about their position."
The full service service, which has been flying for over 25 years, is facing monetary woes. Earlier this month, it also deferred the announcement of June quarter effects. The airline's share value has taken a beating in contemporary weeks.
"We are not aware about their (Jet Airways) position. As far as private airlines are concerned, they will have to deal with whatever issues they are dealing with. At the ministry of (civil) aviation we can only deal at the policy level," Prabhu told PTI in an interview.
Jet Airways is facing monetary tension and on August 9 the corporate held off from announcing the unaudited monetary effects for the June quarter.
The airline's board is scheduled to fulfill on August 27 to consider and approve the unaudited monetary effects for the first quarter ended June 30. The service could also be below the scanner of markets regulator Sebi for alleged disclosure lapses.
Shares of the airline tumbled nearly 4 in line with cent these days after studies that the ministry of company affairs ministry is having a look into alleged fund diversions on the service.
In a regulatory filing, Jet Airways mentioned it "has not received any communication from the ministry of corporate affairs in this regard".
About the overall scenario in the airline industry, the minister mentioned that on every occasion the gas prices pass up, the airlines get badly affected as a result of this can be a variable value and cannot be absorbed into trade type immediately.
"Now, we will have to work on it. Not only India but globally. Some of the global airlines are facing serious problems. We have no control over the oil prices. One of the things we are trying to pursue is to put the ATF (Aviation Turbine Fuel) into the GST," he mentioned.
The civil aviation ministry has been working on efforts to bring jet gas below the Goods and Services Tax (GST) regime.
Private airlines need to deal with issues on their own: Prabhu on Jet Airways
![Private airlines need to deal with issues on their own: Prabhu on Jet Airways]()
Reviewed by Kailash
on
August 22, 2018
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