The consequence of this is a trust deficit, both in our brands as well as the response to the pandemic. We’re being pushed to get out news that’ll raise confidence in our organizations and industries, but the big downside is obviously sharing information that isn’t fully accurate. Given it’s ethics month for our profession (thank you for this initiative Global Alliance), I wanted to highlight the issues around ethics. And one of the big issues we’re all facing is on ethics. The past twelve months has been the hardest I can remember as a communicator. And communicators need to think carefully about whether their messaging is both accurate and ethical Jet Airways founder Naresh Goyal, who, along with his wife Anita, was forced out of the airline late last month by the banks, had also put in bids, but was asked to withdraw after the four bidders threatened to walk out.Ethics has never mattered more. SBI-led banks had invited bids for selling anywhere between 31 and 75 per cent stake in the airline and have already received four initial bids from Jet Airways' foreign partner Etihad Airways, the sovereign wealth fund NIIF, and two private equity funds-TPG Capital and Indigo Partners. You will find out that they are close to the ruling establishment," the Congress leader claimed. “Who are the people who are re-registering it so that the value would be brought down. "We are now told that the Airlines was registered in India and it has been deregistered and re-registered again. The Congress leader alleged that the consortium of banks has failed to adhere to the resolution plan accepted by it, and is responsible for "ruining" the lives of thousands of employees of Jet Airways. "Once the resolution plan was accepted then the management and promoters moved out (but as) banks did not put money the fleet was grounded," he said, adding that the brand value of running the airline stood destroyed. “Moreover there was a resolution (accepted) by the lenders to save jobs and to save the airline," Sharma said. “Compared to this, the amount (debt) of Jet Airways was much smaller. "The central government had rescued other businesses by re-structuring debts to the tune of Rs 30,000-40,000 crore. The over 25-year-old airline had sought a Rs 400-crore emergency fund from its lenders to whom it already owes over Rs 8,500 crore, but was refused as the airline was not ready to offer more collaterals. Referring to the lenders' consortium's refusal to infuse emergency funds in the airline, Sharma claimed that the debt burden of Jet Airways was "much smaller" compared to other businesses which were rescued by the Centre.
"Since this is election period, nobody has talked about it," the Rajya Sabha MP said. Sharma also demanded that the matter be "re-investigated" and criminal responsibility and accountability be fixed for "ruining thousands of jobs". He further demanded that the apex court take note of the issue and direct registration of an FIR in the "entire scandal".
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