Vijay Mallya urges banks to take his money to save debt-ridden Jet Airways

Absconding liquor baron Vijay Mallya on Tuesday urged Indian banks to ‘take his money’ and save the cash-strapped Jet Airways.

Vijay Mallya urges banks to take his money to save debt-ridden Jet Airways
Vijay Mallya (Source: PTI)
By: ABP News Bureau
Updated: 26 Mar 2019 03:12 PM
HIGHLIGHTS
  • Vijay Mallya on Tuesday urged Indian banks to ‘take his money’ and save the cash-strapped Jet Airways.
  • Mallya lashed out at Modi govt for their “double standards”, in helping Jet Airways via a bailout package from public sector banks but not his company Kingfisher Airlines.
London: Absconding liquor baron Vijay Mallya on Tuesday urged Indian banks to ‘take his money’ and save the cash-strapped Jet Airways.

“I repeat once again that I have placed liquid assets before the Hon’ble Karnataka High Court to pay off the PSU Banks and all other creditors. Why do the banks not take my money. It will help them to save Jet Airways if nothing else,” tweeted Vijay Mallya.


He also lashed out at Modi govt for their “double standards”, in helping Jet Airways via a bailout package from public sector banks but not his company Kingfisher Airlines. “Happy to see that PSU Banks have bailed out Jet Airways saving jobs, connectivity and enterprise. Only wish the same was done for Kingfisher,” wrote Mallya on his micro-blogging site.

“I invested over 4000 crores into Kingfisher Airlines to save the Company and its employees. Not recognized and instead slammed in every possible way. The same PSU Banks let India’s finest airline with the best employees and connectivity fail ruthlessly. Double standards under NDA,” tweeted Mallya who is currently is facing a trial in the UK Court.

The cash-strapped Jet Airways has been facing several operational and financial issues ranging from intense competition from low-fare airlines, fluctuating crude prices and a weak rupee. The airline has billions of dollars in debt and has to repay outstanding obligations to banks, lessors of planes and suppliers besides clearing pending salaries to its pilots. The chairman of the airline Naresh Goyal stepped down on Monday (March 25) after which lenders agreed to pump in Rs 1500 crore to bail out the financially troubled airline.

SHOP BY CATEGORIES

         
GET THE APP