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Jet staff knock on Aviation Ministry's doors
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SME Times News Bureau | 21 May, 2019
Faced with the prospect of job loss, the employees of grounded Jet
Airways knocked on the doors of government for helping to save the
airline.
The airline staff from across various departments took
out a march on Tuesday in front of Rajiv Gandhi Bhawan that houses the
Civil Aviation Ministry. The employees hope government will take note of
their situation and act to protect jobs.
Facing severe liquidity
crisis, Jet Airways suspended all its operations on April 17 leaving
its almost 22,000 employees in the lurch. With the financial health of
the airline worsening since then and the SBI-led lenders yet to rope in a
buyer, the carrier has seen mass exodus of employees especially
engineers and pilots.
A Jet insider now estimates that the staff strength of the airline could have come down by half in over one month.
"Now
that elections are over we hope that government would take necessary
steps to revive Jet Airways. We will try to meet Aviation Secretary
Pradeep Singh Kharola and understand what government could do to protect
our jobs," said a protesting employee working with the airline's
engineering department.
Another personnel said that the SBI-led
lenders should expedite the stake sale process as there has already been
significant delays.
While lenders are vetting various investment
proposals, most of the top airline executives including its CEO, CFO
and Company Secretary have resigned from their respective positions
citing personal reasons.
Close on the heels of resignation by
the airline's whole-time director Gaurang Shetty, Etihad nominee on the
board Robin Kamark also resigned on May 16.
Abu Dhabi-based
Etihad Airways, which holds 24 per cent stake in the crisis-hit Jet
Airways, is currently the only solicited bidder for a stake in the
airline. But experts have found its bid unattractive for the lenders
given multiple riders attached to it.
Besides offering to invest
just Rs 1,700 crore against the requirement of Rs 15,000 crore to revive
the crisis-hit airline, Etihad has in its proposal put the onus of
finding majority buyer on lenders. The Gulf carrier also wants exemption
from giving open offer in case its stake goes beyond 26 per cent.
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