Extend special loan to help airline pay staff: bank union

Banks should come forward to extend a special and exclusive loan to Jet Airways for the payment of salary dues of the staff, or some subsistence payments to them, against a proper collateral of lien on the accumulation in the staff fund such as PF and gratuity, the All India Bank Employees Association (AIBEA) has said.

“Alternatively, the IBA (Indian Banks’ Association) can ask the banks to device a special loan scheme to the staff of Jet Airways to tide over their present financial problems,” said CH Venkatachalam, General Secretary, AIBEA, in a letter to IBA Chairman Sunil Mehta.