We all know that Aircel is in bad shape. Although the company never admitted it in public, Aircel customers across the country are facing call drop and no signal issues. Earlier this week, chief executive officer Kaizad Heerjee at Aircel, in a mail written to more than 5000 employees stated that the things are expected to get even worse going forward. Aircel has not received any funding in the last six months and is completely operating on its business, which is not enough for sustaining the competitive Indian telecom market led by Reliance Jio.
“We have had no funding for some time and have been dependent on cash generation from our current business operations,” chief executive officer Kaizad Heerjee said in an email to employees earlier this week as reported by Economic Times. “As competition remains intense in a hugely financial stressed market, we too are being impacted… The company expects things to get even more difficult in coming days,” he further added in the mail.
Heerjee also confirmed that it would be replacing the resigned board with new faces- Sandeep Vats, Prakash Mishra and Lakshami Subramaniam. Aircel board will soon regroup to “review and evaluate the options for the company,” added the report.
He also stated that the financial situation had impacted our operations, which in turn resulted in network outage across the country. “Our financial situation has resulted in network and system outages. Millions of customers have been impacted,” said Heerjee.
We recently reported that several Aircel customers in major cities such as Hyderabad, Kolkata, Bengaluru are facing network issues and the telco is not even allowing to manually get into another network, at least to generate the porting code. Aircel, as of December 31, 2017, has more than 84 million subscribers and the number will surely go down in the coming days.
But the sad part is Aircel not admitting the situation openly. If you look at their Twitter profile, it’s filled with network related questions, and the company keep on saying ‘technical issue.’ Aircel should act up fast and allow customers to at least generate a Unique Porting Code so that they can move to any other network to enjoy services. Aircel’s website is also down as of this writing.
Aircel is said to be filing bankruptcy with NCLT Mumbai bench, however, nothing is official for now.