All India Bank Employees’ Association
(AIBEA) on Thursday opined that banks should not become the
owner of ailing Jet Airways as running the airlines is the business
of the company and its management.
”When Jet Airways was making profits, the profits went into
the pocket of the owners. When it is in loss, why public money
and Banks’ money should be spent to save them”, AIBEA
General Secretary Ch Venkatachalam said in a release.
He said for the past few days, a lot of news is in the media
about the acute problems being faced by Jet Airways.
Whatever loan they have taken from the Banks should be
repaid. On the contrary it is reported that the Shares of Jet
Airways are sought to be dumped on the shoulders of the
Banks.
Even Ethihad Airlines wants its shares to be purchased by
the Banks, Mr Venkatachalam said there are also reports
in the media quoting SBI Chairman Rajnish Kumar that
“it’s in ‘everybody’s interest’ to keep the airline flying…….
Our aim is that the corporate debtor (Jet Airways) should
not be harmed”.
The Top Union leader said ‘we totally disagree with such
proposals and attempts of Banks to purchase the shares
of this ailing Airline with a view to save the company at
the cost of public money’.
All these private airlines were allowed and brought into
operation only on the promises that it would be much
more efficient than public sector airlines. Because of
this open encouragement, Indian Airlines was virtually
weakened, he added.
The AIBEA General Secretary said there are attempts to
sell the Indian Airlines to some private buyers. However,
he said, we observed the ‘performance’ of private airlines,
and hence the government should review their policy of
weakening public sector airlines. (UNI)
