Vijay Mallya: Take my money, save Jet Airways

Vijay Mallya

New Delhi: Businessman Vijay Mallya urged Indian banks to "take his money" and save cash-strapped Jet Airways on Tuesday. Mallya took to Twitter and urged Indian banks to take his money from Karnataka High Court to pay off the PSU Banks and all other creditors and save the airline.

Mallya, who is currently facing trial in a UK Court, pointed out the "double standards" of the NDA government, and questioned why public sector banks pitched in to save Jet Airways but let his company, Kingfisher Airlines, "fail ruthlessly."

Mallya also claimed that the media "decimated" him for writing to Prime Minister Narendra Modi while a BJP spokesman "eloquently read out" letters he wrote to former Prime Minister Manmohan Singh and alleged that PSU banks under the UPA government "wrongly supported" Kingfisher Airlines.

Jet Airways has been suffering bruising competition from low-cost airlines, fluctuating crude prices and a weak rupee. The airline under a huge debt of one billion dollars and has to repay money to lessors of planes, banks, and suppliers besides clearing pending salaries to its pilots.

Naresh Goyal, the chairman of the airline, stepped down on March 25, 2019, following which lenders agreed to pump in Rs 1500 crore to bail out the financially troubled airline.

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Edited by mid-day online desk with inputs from ANI