A Jet Airways aircraft is seen parked at a hanger at Chhatrapati Shivaji Maharaj International Airport in Mumbai. (Photo: AP )
A Jet Airways aircraft is seen parked at a hanger at Chhatrapati Shivaji Maharaj International Airport in Mumbai. (Photo: AP )

Jet Airways seeks government backing for salary payment

  • Jet Airways chief executive officer Vinay Dube told reporters after a meeting with finance minister Arun Jaitley on Saturday that the company has sought government support
  • Dube also said that the FM has assured that the bid process for roping in new investors in Jet will be completed in four weeks

The leadership of distressed carrier Jet Airways (India) Ltd. on Saturday sought government support in securing funds for paying part of salary dues to employees.

Jet Airways chief executive officer Vinay Dube told reporters here after a meeting with finance minister Arun Jaitley on Saturday that the company has sought government support for securing funds for paying at least one month salary to employees. For this, Dube said, the company would need about 170 crores.

Dube also said that the finance minister has assured that the bid process for roping in new investors in Jet will be completed in four weeks.

Jet's efforts to retain employees come in the wake of SpiceJet saying on Friday it will.give preference to workers who have recently lost employment and that it has recently provided jobs to more than 100 pilots, more than 200 cabin crew and more than 200 technical and airport staff. A Jet Airways official who spoke on condition of anonymity said that those employees who are in dire need of reemployment due to financial commitments may leave the company but others will certainly stay back.

Dube said that Jet is making all efforts to revive the company and that he is expecting completion of the bid process in three to four weeks.

State owned lenders led by SBI are now in the process of finding new investors for Jet. The company suspended it's operations earlier in the week due to financial constraints.

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