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Turbulence continues: Jet Airways employees stage protest over probability of job loss, seek help from Aviation Ministry

A Jet insider now estimates that the staff strength of the airline could have come down by half in over one month.

India TV Business Desk India TV Business Desk
New Delhi Published on: May 21, 2019 12:24 IST
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Jet Airways employees stage protest over probability of job loss

After facing the prospect of job loss, Jet Airways employees have now turned to the government for help. In an attempt to highlight their situation, seeking an action to protect their jobs, the airline staff from across various departments took to the streets on Tuesday and were seen protesting in front of Rajiv Gandhi Bhawan that houses the Civil Aviation Ministry. 

Earlier on April 17, Jet Airways had suspended all its operations after it had faced severe liquidity crisis, a move, which left almost 22,000 of its employees in the lurch. 

The airline since then is seeing a mass exodus of employees, especially pilots and engineers, with the financial health of the airline worsening since then and the SBI-led lenders yet to rope in a buyer. 

Also Read | Jet Airways' deputy CEO and CFO Amit Agarwal quits

A Jet insider now estimates that the staff strength of the airline could have come down by half in over one month.

"Now that elections are over, we hope that government would take necessary steps to revive Jet Airways. We will try to meet Aviation Secretary Pradeep Singh Kharola and understand what government could do to protect our jobs," said a protesting employee working with the airline's engineering department.

Another personnel said that the SBI-led lenders should expedite the stake sale process as there have already been significant delays.

While lenders are vetting various investment proposals, most of the top airline executives including its CEO, CFO and Company Secretary have resigned from their respective positions citing personal reasons.

Close on the heels of resignation by the airline's whole-time director Gaurang Shetty, Etihad nominee on the board Robin Kamark also resigned on May 16.

Abu Dhabi-based Etihad Airways, which holds 24 per cent stake in the crisis-hit Jet Airways, is currently the only solicited bidder for a stake in the airline. But experts have found its bid unattractive for the lenders given multiple riders attached to it.

Besides offering to invest just Rs 1,700 crore against the requirement of Rs 15,000 crore to revive the crisis-hit airline, Etihad has in its proposal put the onus of finding majority buyer on lenders. The Gulf carrier also wants exemption from giving open offer in case its stake goes beyond 26 per cent.

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