The Committee of Creditors (CoC) of Jet Airways has once again voted against paying one month’s salary to the airline’s remaining employees. The airline staff have not been paid for several months as the lenders have repeatedly refused to give any additional funds.
The airline is also in the midst of taking a few cost-cutting measures, for which the contract of over 30 people working in the Asset Preservation Team have been terminated.
Jet Airways was dragged to the National Company Law Tribunal (NCLT) over unpaid dues in June 2019. The tribunal had considered Jet Airways as a ‘going concern’, after which a few of Jet Airways’ assets including its aircraft, engines, and properties were being preserved. Some of those had been leased out to industry players in order to recover some costs.
