Jet shares have rallied 20% since news of the rescue on hopes that the airline would now be able to clear salaries, redeploy grounded planes and claw back market share. "Right now Jet is in survival mode, there is no strategy," said an executive at one of Jet's lessors. Jet has been in talks with the lessor since securing the deal but it has given few details on settling pending lease payments and on its turnaround plans, he said. Once India's leading full service carrier, Jet has struggled to compete with low-cost carriers in recent years. While the rescue deal could put Tata back in the race, Goyal's trimmed stake may still be a problem.

Source: Dhaka Tribune March 31, 2019 07:18 UTC