MUMBAI: Hinting at job losses going forward, grounded carrier Jet Airways chief executive Vinay Dube Wednesday said the airline does not have an “answer” at present on the fate of its 20,000-odd employees during the stake sale process.
The SBI-led consortium of lenders has offered prospective bidders ownership of the airline anywhere between 31.2% and 75% for which it had run an online bidding process between April 8 and 12 and had shortlisted four – Etihad Airways, NIIF, private equity funds TPG Capital and Indigo Partners-who can submit the final bids by May 10.
“However, we must also be realistic that the sale process will take some time and will throw up several more challenges for us, many of which we don’t have the answer today,” Dube said in a communication to the harried employees who have not been paid since March.
