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Jet staff take out silent protest march at IGI airport

IANS  |  New Delhi 

The employees of crisis-ridden took out a silent protest march demanding the payment of their dues outside the IGI airport's Terminal 3, here on Saturday.

The Jet employees organised the "Save Human Chain" and took out a peaceful, silent march outside Terminal 3 of the (IGI) airport.

The employees also demanded to know the future course of action to revive the debt-ridden At present, the company is trying to secure interim funding from lenders to sustain its current level of operations.

Senior Jet officials told the employees in on Friday that they will be paid first from the funds that the company receives.

The March salaries of all the employees have been deferred, while the pilots, along with the engineers, have not been paid since January 1.

The development came on a day when the operated only 7 aircraft on domestic routes due to grounding of over 80 per cent of its fleet by lessors, which has resulted in the cancellation of several daily flights, inconveniencing scores of passengers at various airports.

Jet's woes assume criticality as the that once operated around 120 aircraft is now left with just 16 planes in its fleet.

Currently, the airline owes over Rs 8,000 crore to a consortium of lenders led by the (SBI). It has also suspended international operations till Monday afternoon.

The only hope for the airline now lies with an immediate dose of interim funding and the completion of the stake sale process initiated by the lenders.

Speculation is rife that Jet's ex-and six other parties have expressed their interests in the stake sale process.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 13 2019. 22:50 IST