Employees of grounded carrier Jet Airways are unlikely to get their dues — salaries and other emoluments — amounting to Rs 93 crore, anytime soon after lenders on Thursday expressed their inability to provide any further funds, sources told FE. The airline’s senior management, pilots and engineers have not been paid since January while other employees have not been paid since March.
The committee of creditors (CoC) had in July approved interim funding to the tune of Rs 70 crore for maintenance and upkeep of Jet’s assets and to cover some costs of the corporate insolvency resolution process. Of this, State Bank of India has released Rs 10 crore while other lenders are yet to provide funding, sources said.
