Jet Airways has not approached the government for any assistance, RN Choubey, Secretary, Civil Avaition, said on Friday when asked if the government plans to step in, given the tight financial situation that the airline is facing.

“If Jet comes forward and makes any specific request we will look at it. But at the moment they have not approached us,” Choubey said on the sidelines of a civil aviation seminar organised by Assocham.

In response to a question on whether the government is worried about possible retrenchment in the airline, Choubey said: “If Jet has not told us that they have are going to retrench why should we be worried? Airlines are not bound to inform us when they retrench but when airlines get into trouble they normally come to us.”

The government does not plan any financial audit of Jet Airways but is watching the developments in the airline.

Addressing investors’ concerns over the falling stock price of Jet Airways, at the airlines’ AGM on Thursday, Founder-Chairman, Naresh Goyal, had said he felt “guilty and embarrassed” about it.

Meanwhile, Ajay Singh, Chairman, SpiceJet, said the rise in price of Aviation Turbine Fuel and a depreciating rupee have affected the financials of Indian carriers.

“A lot of purchases are in dollars — all leases are dollar-denominated, engineering services procured from outside are dollar- denominated, all loans taken by many airlines to acquire aircraft are dollar-denominated. So the depreciation of the rupee is significant. All this has added to the pressure on airlines,” Singh said.

Pointing out that it is tough to say by how much domestic airfares should go up, Singh indicated that domestic fares should go up by at least 10 per cent from their current level.

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