The National Aviator's Guild, a trade union comprising Jet Airways pilots, said that it is working with the airline management for finding out a solution to the challenges faced by the company.

The union said that it recognises that the airline is passing through a turbulent phase. Fuel costs are on the rise, the rupee is at an all-time low and low fares are among the factors contributing to the challenges faced by all airlines today.

"We are endeavouring to assist our company in facing these challenges by meeting with the management and being a part of the solution in achieving cost-efficiencies and enhancing our service standards, " NAG said in a statement.

"Most of us have been loyal employees of Jet Airways and it would be a matter of pride to be a part of ensuring that it maintains its position as India's premier airline, here and abroad," it added.

NAG said it was confident of the airline's sustainability in the short as well as the long-term.

"We advise members to help us achieve our common goals. Do not fall prey to rumours and baseless speculations and, in case of any queries, please feel free to call any committee member for clarifications," it said.

Rumours, baseless speculations

The statement comes after Economic Times reported that the airlines could stop operations with in 60 days if its ongoing cost reduction exercise is not completed. The Mint had reported that the company has approached banks for possible stake sale.

Jet Airways has denied both these reports and said there was no plan for a stake sale. It also said that its operations are sustainable . The company has however acknowledged that it is going though a cost-reduction excercise. This includes asking pilots to take a pay cut.

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