With lenders set to start bankruptcy proceedings against Jet Airways, the employees of the airline, who have repeatedly petitioned the government to consider their proposal to revive the company, deserve a serious hearing.
The proposal of the employees hasn’t found traction from the consortium of banks led by State Bank of India for various reasons, one of which could be because it fears that it may not be able to recover its monies and may, in fact, have to pour more into the ailing airline.
To a large extent, such a fear seems justified. There are very few companies in India which are being run by the employees, and fewer still which are successful. In the domestic airline industry, there are none and hence no template for the lenders and the government to refer to.
