Mild on the finish of the tunnel: Jet Airways workers after nod to revival plan

2020/10 18 08:10

The primary day of Navratri competition started with hope for four,000 workers of the Jet Airways, because the committee of collectors (CoC) accredited Kalrock Capital-Murari Lal Jalan consortium’s plan to revive the airline.

“The staff have endured hardship and monetary stress in final eighteen months however now lastly we will see gentle on the finish of the tunnel. We hope the revival course of is quick tracked with the assistance of presidency,”mentioned Amit Kelkar, vp, Jet Plane Upkeep Engineers Welfare Affiliation.

The airline’s workers have admitted claims of Rs 1,265 crore.

When went into insolvency final June, it had round eight,000 workers, and that has whittled all the way down to round four,000 at current. A core group of about 175 workers has been functioning since final yr. This contains 4 senior executives- chief technique officer Rajesh Prasad, authorized head Gautam Acharya, vp (planning) Anthony D’sa and basic supervisor (MIS) Farazad Patrawalla who’ve been working carefully with the decision skilled for revival.

” By voting for Jalan – Kalrock consortium in midst of Covid-19 pandemic, instances, the committee of collectors has voted for decision fairly than liquidation, thereby vindicating the spirit of India’s insolvency course of. The stake holders, together with the workers, are naturally very excited,” Prasad mentioned.

ALSO READ: CoC approves Kalrock Capital-Murari Jalan’s plan to revive Jet Airways

“We’ve labored arduous for the revival and fought for worker dues and are very joyful as will fly once more,” mentioned Nidhi Chaphekar who represents the cabin crew union.

Whereas the temper amongst workers is celebratory, some have sounded a notice of warning. Whereas lenders have cleared the plan it nonetheless requires a number of approvals and authorities help.

“Jet Airways is out of an ICU and is now within the basic ward,” an aviation skilled mentioned drawing analogy with a criticaly in poor health individual. ” What number of workers get employed and who will get employed will rely on the brand new homeowners and their enterprise plans,” he mentioned.

Expensive Reader,

Enterprise Normal has at all times strived arduous to supply up-to-date data and commentary on developments which might be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on how one can enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these troublesome instances arising out of Covid-19, we proceed to stay dedicated to preserving you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.

We, nonetheless, have a request.

As we battle the financial affect of the pandemic, we’d like your help much more, in order that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from a lot of you, who’ve subscribed to our on-line content material. Extra subscription to our on-line content material can solely assist us obtain the targets of providing you even higher and extra related content material. We imagine in free, truthful and credible journalism. Your help by extra subscriptions can assist us practise the journalism to which we’re dedicated.

Assist high quality journalism and subscribe to Enterprise Normal.

Digital Editor

Supply hyperlink


Leave a Reply

Welcome (Toggle)