Saturday, May 29, 2021

Jet Airways staff seek early revival of airline

Employee unions of Jet Airways have sought expeditious revival of the grounded airline, as the resolution plan is stuck in the Insolvency and Bankruptcy Code process for almost 2 years.

The lenders had approved the resolution application submitted by Murari Lal Jalan & Kalrock Capital Consortium in October last year and the revival plan was submitted to the NCLT Mumbai for approval on November 5.

Owing to mounting losses, Jet Airways stopped operations on April 17, 2019, and was referred to the NCLT Mumbai on June 20, 2019 for resolution. Its employee base has been reduced from more than 16,000 at the time of closure to 3,200, including 240 pilots, 110 engineers and 650 cabin crew members, now. The unions said one of the reasons for the delay in handing over the airline to the winning bidder was lack of clarity on historical slots and routes.

“We request that the government consider the historicity of Jet Airways’ slots and routes which were allocated purely on a temporary basis to other airlines,” said Ashish Mohanty, president, Jet Airways Maintenance Engineer Welfare Association. “Jet Airways operated on these slots and routes continuously for 25 years and only missed the two winter/ summer schedule as it was in insolvency process,” he added.

29/05/21 Lalatendu Mishra/The Hindu

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