Employees of Jet Airways, who have sought interim financial assistance till the completion of the insolvency resolution process, staged a protest on Tuesday (August 6) demanding that the National Company Law Tribunal (NCLT) hears the ongoing insolvency case of the airline at 11 am on August 10
New Delhi: Scores of Jet Airways employees on Tuesday (August 6) gathered in the nation’s capital and sought interim financial assistance till completion of the insolvency resolution process.
The once-storied full-service carrier stopped flying on April 17 as it ran out of money for daily operations.
An employees' consortium has demanded that the Committee of Creditors (CoC) should look at providing one month's salary as interim financial assistance.
The consortium represents around 9,000 employees, including pilots, engineers and cabin crew, according to AK Mohanty.
Mohanty, a representative of the consortium, said that one month's salary should be released to existing employees of Jet Airways for their basic survival.
"The resolution process should be fast-tracked, and operations should be restarted at the earliest. There shouldn't be liquidation," he added.
Most of the employees, who gathered at Jantar Mantar, were clad in the airline's uniform.
The deadline for submission of initial bids under the insolvency resolution process ends on August 10.
In a filing to stock exchanges on Saturday (August 3), the airline said the last date for submitting Expressions of Interest (EoIs) has been extended based on requests received from prima-facie credible interested resolution applicants for some additional time.
An insolvency professional is managing the affairs of Jet Airways under the Insolvency and Bankruptcy Code (IBC).
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Last Updated Aug 6, 2019, 4:32 PM IST