Jet Airways will ship almost one-1/3 of its personnel on depart with out pay or decrease their salaries with the aid of using as much as 50%, said The Times of India quoting sources.
The carrier, which suspended operations in 2019 and remained grounded for 3 years, changed into granted licence to renew industrial flights with the aid of using the Directorate General of Civil Aviation (DGCA) in May this year.
According to a few personnel of the airline, the 50% profits cuts will begin taking impact from December 1.
The airline control, meanwhile, stated that two-thirds of the personnel will now no longer be impacted with the aid of using the move. For the ultimate one-1/3 of the personnel, it added, their pay may be decreased temporarily.
The control stated that best a small part of the personnel may be given depart with out pay and that no worker changed into being laid off, the document added.
The Jalan Kalrock Consortium (JKC), modern promoters of Jet Airways, these days stated that it had now no longer breached any phrases of the insolvency and may ought to take tough choices to control cashflow.
“…at the same time as we wait for the handover of the business enterprise as in keeping with the NCLT technique, the longer-than-anticipated time being taken for the equal may also bring about a few tough however essential near-time period choices to control our cashflows to stable the destiny at the same time as the airline continues to be now no longer in our possession,” the consortium stated in a statement.
The insolvency decision technique of Jet Airways began out in June 2019 after its then-promoters didn’t offer liquidity.
While JKC’s decision plan changed into authorised with the aid of using the National Company Law Tribunal (NCLT) remaining year, the airline is but to renew operations even after acquiring the air operator certificate (AOC).
In the statement, the consortium additionally stated that it has deposited ₹ a hundred and fifty crore as required with the aid of using the court-authorised decision plan and could make investments the ultimate amount “best after the following steps of NCLT are fulfilled in phrases of handover of the business enterprise to us”.
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