Jet bailout: Mallya slams PSU banks for ‘double standards’

New Delhi, March 26

Embattled liquor baron Vijay Mallya today lashed out at public sector banks for “double standards” under the current NDA regime for their intervention to bail out Jet Airways while the same lenders made his Kingfisher airlines “fail ruthlessly”.

In a series of tweets reacting to banks led by SBI taking over management control of troubled Jet Airways, Mallya said,”...Only wish the same was done for Kingfisher”.

“Happy to see that PSU Banks have bailed out Jet Airways saving jobs, connectivity and enterprise,” he said.

He further said, “The same PSU banks let India’s finest airline with the best employees and connectivity fail ruthlessly. Double standards under NDA.” Mallya, who is facing extradition to India from the UK, lamented that his efforts to save Kingfisher Airlines was “not recognised and instead slammed in every possible way”.

“I invested over Rs 4,000 crore into Kingfisher Airlines to save the company and its employees,” he claimed.

He also lashed out at the BJP for differential treatment meted out to Kingfisher and Jet Airways.

“BJP spokesman eloquently read out my letters to PM Manmohan Singh and alleged that PSU banks under the UPA Government had wrongly supported Kingfisher Airlines,” Mallya said.

He further said, “Media decimated me for writing to the current PM. I wonder what has changed now under the NDA Government.” The fugitive businessman reiterated his offer to pay off dues through his assets.

“And I repeat once again that I have placed liquid assets before the 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,” he said.

Last month Mallya, who is wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crores, had filed his application in the UK High Court, seeking permission to appeal against an extradition order signed by the British Home Secretary. — PTI

Pilots write to SBI, seek salary dues 

• Jet Airways’ domestic pilots body — the National Aviators Guild — on Tuesday sought a meeting with SBI chairman Rajnish Kumar over pending salaries, a day after the lenders took over the carrier 
• The guild had last week announced that it’s over 1,100-odd members would stop flying from April 1 if their salaries dues were not cleared and a clarity on the revival roadmap was not provided by March 31

Jet Airways’ shares rally further 

• Shares of Jet Airways continued to rise for the second day on Tuesday and closed 6.5% higher on the bourses following the exit of chairman Naresh Goyal and his wife Anita Goyal from its board
• The stock closed at Rs 271, up 6.48% on the BSE. During the day, it zoomed 9.62% to Rs 279