You are here: Home » Companies » News
Future Lifestyle Fashions gets three-month extension for holding AGM
Business Standard

Jet Airways faces turbulence ahead of launch as 3 senior executives quit

The Jalan-Kalrock consortium (JKC), which is preparing to launch the airline, however, downplayed the exits

Topics
Jet Airways | Civil Aviation

Aneesh Phadnis  |  Mumbai 



Jet Airways
The consortium had said it was in the final stages of contracting with lessors and OEMs for aircraft and engines

has been hit by three top-level resignations ahead of its relaunch. The three senior executives who have resigned include Captains Niraj Chandan (head of flight safety), Vishesh Oberoi (head of operations) and Sorab Variava (head of training).

These posts are critical and generally senior pilots are nominated for the roles. The appointments are made after an approval from the Directorate General of (DGCA).

The Jalan-Kalrock consortium (JKC), which is preparing to launch the airline, however, downplayed the exits.

“We do not comment on rumours and speculations. Exits and entries occur in any organisation. The senior management team for is now fully in place and we remain committed for the earliest recommencement of operations of Jet Airways,” a spokesperson of JKC said in an emailed response.

Earlier, JKC was planning a September launch but is yet to announce aircraft induction plans. Largescale hiring of pilots, too, is expected only after the aircraft choice is finalised.

The consortium had said it was in the final stages of contracting with lessors and OEMs for aircraft and engines.

Last June, the National Company Law Tribunal cleared the JKC’s resolution plan to revive the grounded airline. According to the plan, the consortium agreed to Rs 475 crore to the grounded airline’s lenders, employees and other creditors. “The lenders want to know how the JKC’s plans to honour its commitments and then will step back and hand over control of the company,” said a person in the know.

“The liabilities of Jalan-Kalrock consortium are clearly defined in the NCLT-approved resolution plan and the consortium is in full compliance with all the obligations. The implementation of the resolution plan with the banks is moving forward effectively,” the spokesperson said.


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Thu, September 08 2022. 21:13 IST

RECOMMENDED FOR YOU

.