Jet Airways: Receivables may be used to pay employees

The legal counsel of the resolution professional (RP) for Jet Airways on Thursday informed the National Company Law Tribunal (NCLT) that paying salary dues of the employees remains a concern since the airline has no income from operations at present.

Some of the pending receivables of over Rs 50 crore could be used to settle part of the salary dues. The RP has also sought the permission of the committee of creditors (CoC) to liquidate some assets, its counsel told the bench. These assets would include receivables from ticket sales, which are due to the company. Last month, the tribunal directed the resolution professional of Jet Airways to discuss concerns over payment of salaries with the CoC, citing the need to ensure payment for the “survival of employees”. In the last meeting of