Mumbai: Jet Airways founder Naresh Goyal Friday told his employees that he is willing to make “any sacrifice” for them and to revive the beleaguered airline.
He also assured them that the management, led by CEO Vinay Dube, will give them an update on its resolution plan by March 18, by which time the situation will be “gently easing up” in the airline’s favour.
Goyal’s emotional letter to his employees comes two days after he agreed to step down as chairman of Jet, according to people in the know. His son beleaguered will represent what remains of his stake after an equity infusion and subsequent shareholding rejig, which is at the core of its bailout plan.
Goyal said he is led to “appeal to each of you from my heart, to bear with me through this difficult situation a little longer, till we emerge out of turbulence and fiscal challenges, into clear blue skies”.
“Towards this, I commit to you personally from my heart, that I am prepared to make any sacrifice to ensure your future comfort and prosperity, viability of the airline and in fact welfare of all the employees of the company,”
“I do not, never have and never shall take your patience for granted,”
Jet, facing the most turbulent times its its 25 year existence, has delayed salaries, defaulted on loan repayments and aircraft lease rental payments. The airline has grounded or returned to lessors 40 of its planes, or a third of its original fleet of 123 in the last couple of months.
02/03/19 Anirban Chowdhury/Economic Times
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He also assured them that the management, led by CEO Vinay Dube, will give them an update on its resolution plan by March 18, by which time the situation will be “gently easing up” in the airline’s favour.
Goyal’s emotional letter to his employees comes two days after he agreed to step down as chairman of Jet, according to people in the know. His son beleaguered will represent what remains of his stake after an equity infusion and subsequent shareholding rejig, which is at the core of its bailout plan.
Goyal said he is led to “appeal to each of you from my heart, to bear with me through this difficult situation a little longer, till we emerge out of turbulence and fiscal challenges, into clear blue skies”.
“Towards this, I commit to you personally from my heart, that I am prepared to make any sacrifice to ensure your future comfort and prosperity, viability of the airline and in fact welfare of all the employees of the company,”
“I do not, never have and never shall take your patience for granted,”
Jet, facing the most turbulent times its its 25 year existence, has delayed salaries, defaulted on loan repayments and aircraft lease rental payments. The airline has grounded or returned to lessors 40 of its planes, or a third of its original fleet of 123 in the last couple of months.
02/03/19 Anirban Chowdhury/Economic Times
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