Jet’s RP seeks lenders’ nod to liquidate assets to pay pending salaries

MUMBAI: The resolution professional (RP) overlooking the bankruptcy proceedings of grounded Jet Airways (India) Ltd on Thursday told the Mumbai bench of the National Company Law Tribunal (NCLT) that a request has been placed before the committee of creditors (CoC) to liquidate some assets to pay a part of the pending salaries to the airline’s employees.

According to resolution professional Ashish Chhawchharia, Jet Airways currently has about 7,400 employees on its payroll. During its peak, the airline had over 16,000 employees, including about 1,300 pilots.

“We have requested CoC’s permission to liquidate some assets to pay the salaries,” Chhawchharia said, adding that Jet Airways currently has no revenue from operations and, hence, paying employee salaries remains a concern.