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Jet pilots appeal to SBI to release Rs 1500 cr, ask PM to save 20,000 jobs

The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.

Press Trust of India  |  Mumbai 

Jet employees are protesting outside office They marched from airport to their office in Mumbai | Photo: Kamlesh Pednekar
Jet employees protesting outside office They marched from airport to their office in Mumbai | Photo: Kamlesh Pednekar

Airways pilots body, the National Aviator's Guild, Monday appealed the (SBI) to release Rs 1,500 crore, which was proposed to be infused in the ailing carrier as part of a debt-restructuring plan last month.

The is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.

"We would like to appeal SBI to release Rs 1,500 crore funds for the to help it continue operations. We also appeal to save 20,000 odd jobs at the airline," National Aviator's Guild ( NAG) told reporters at the airline's headquarter, Siroya Centre, here Monday.

Earlier, the airline's pilots, engineers and cabin crew members assembled at the headquarters to show their solidarity.

The airline's pilots along with engineers and senior staff were last paid for December, 2018. This apart, the has also defaulted on the March salary of other categories of employees as well.

Last month, an SBI-led consortium of lenders had taken management control of the a debt-recast deal, following which the lenders had proposed to infuse as much as Rs 1,500 crore to the carrier to keep it afloat till the time it gets a investor.

The Monday meeting with lenders is reportedly expected to take a final decision on the quantum of funds to be infused immediately to avert a possible shut down. A meeting between the and its major lender SBI last Friday could not take a decision on the fund infusion issue.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, April 15 2019. 11:45 IST
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