Published 12:54 IST, April 15th 2019
Jet Airways pilots appeal to SBI for funds, ask PM Modi to 'save 20,000 jobs'
Trade union National Aviator's Guild said on Monday that Jet Airways pilots body has appealed to the State Bank of India to release funds worth Rs 1,500 crore for the airline.
Trade union National Aviator's Guild said on Monday that the Jet Airways pilots body has appealed to the State Bank of India to release funds worth Rs 1,500 crore for the airline. The funds were proposed to be infused in the ailing carrier as part of a debt-restructuring plan last month.
Due to non-payment of rentals to lessors amid severe paucity of cash, the airline is operating just 6-7 planes with almost its entire fleet being grounded.
The union, which has more than 1,100 pilots of the airline as members, also sought help from Prime Minister Narendra Modi in saving 20,000 jobs at stake.
"We would like to appeal SBI to release Rs 1,500 crore funds for the airline to help it continue operations. We also appeal Prime Minister Narendra Modi to save 20,000 odd jobs at the airline," National Aviator's Guild ( NAG) vice president Adim Valiani told at the airline's headquarter, Siroya Centre on Monday.
The appeal came on the same day when the management of the airline was to meet its lenders. The airline's pilots, engineers and cabin crew members had all assembled at the headquarters in Mumbai to show their solidarity.
Jet Airways pilots along with engineers and senior staff were last paid for December, 2018. This apart, the airline has also defaulted on the March salaries of other categories of employees as well.
Last month, an SBI-led consortium of lenders had taken management control of the airline post 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 an investor.
The Monday meeting with lenders is 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 airline management and its major lender SBI last Friday could not take a decision on the fund infusion issue.
(With agency inputs)
Updated 15:55 IST, April 19th 2019