Motilal Oswal
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Motilal Oswal
Aviation

Jet Airways employees stage protest over job uncertainty

Updated : 2019-04-19 10:09:29

Thousands of employees have been stung by the rapid unravelling of Jet Airways, which, saddled with more than $1.2 billion in bank debt, grounded all its planes on Wednesday after lenders rejected a plea for emergency funds.

The shutdown has deepened the crisis as dues to lessors, staff and suppliers pile up and lenders scramble to find a buyer for what was once India's largest private airline.

Jet Airways CEO Vinay Dube told employees on Wednesday that the sale would take time and could throw up more challenges, but he was confident the airline would fly again.

Failure would threaten more than 16,000 staff jobs and thousands more tied to the airline, which at its peak operated over 120 planes and more than 600 daily flights.

More than a dozen employees said they had gone two to four months without pay. Many grapple with unpaid bills, overdue home loans, school and tuition fees.

Image: Reuters/AP

Jet Airways employees and their family members attend a protest demanding to
Jet Airways employees and their family members attend a protest demanding to "save Jet Airways" in New Delhi, India, April 18, 2019. REUTERS/Adnan Abidi
A flight steward of Jet Airways weeps during a protest demanding to
A flight steward of Jet Airways weeps during a protest demanding to "save Jet Airways" in New Delhi, India, April 18, 2019. REUTERS/Adnan Abidi
An employee of Jet Airways is consoled by his colleagues during a protest demanding to
An employee of Jet Airways is consoled by his colleagues during a protest demanding to "save Jet Airways" in New Delhi, India, April 18, 2019. REUTERS/Adnan Abidi
An employee of Jet Airways is consoled by her colleagues during a protest demanding to
An employee of Jet Airways is consoled by her colleagues during a protest demanding to "save Jet Airways" in New Delhi, India, April 18, 2019. REUTERS/Adnan Abidi
Jet Airways employees and their family members attend a protest demanding to
Jet Airways employees and their family members attend a protest demanding to "save Jet Airways" in New Delhi, India, April 18, 2019. REUTERS/Adnan Abidi
Employees of Jet Airways participate in a protest to demand clarification on unpaid salaries, in Mumbai, India, Friday, April 12, 2019. The debt-stricken airlines cancelled several international flights Thursday. (AP Photo/Rajanish Kakade)
Employees of Jet Airways participate in a protest to demand clarification on unpaid salaries, in Mumbai, India, Friday, April 12, 2019. The debt-stricken airlines cancelled several international flights Thursday. (AP Photo/Rajanish Kakade)
Employees of Jet Airways march in a protest outside Indira Gandhi International Airport in New Delhi, India, Saturday, April 13, 2019 (AP Photo/Altaf Qadri)
Employees of Jet Airways march in a protest outside Indira Gandhi International Airport in New Delhi, India, Saturday, April 13, 2019 (AP Photo/Altaf Qadri)
Employees of Jet Airways hold placards as they march during a protest outside Indira Gandhi International Airport in New Delhi, India, Saturday, April 13, 2019. (AP Photo/Altaf Qadri)
Employees of Jet Airways hold placards as they march during a protest outside Indira Gandhi International Airport in New Delhi, India, Saturday, April 13, 2019. (AP Photo/Altaf Qadri)
Employees of Jet Airways speak to the media during a protest outside Indira Gandhi International Airport in New Delhi, India, Saturday, April 13, 2019. (AP Photo/Altaf Qadri)
Employees of Jet Airways speak to the media during a protest outside Indira Gandhi International Airport in New Delhi, India, Saturday, April 13, 2019. (AP Photo/Altaf Qadri)
Employees of Jet Airways gather to demand clarification on unpaid salaries at Jet Airways headquarters in Mumbai, India, Monday, April 15, 2019. (AP Photo/Rafiq Maqbool)
Employees of Jet Airways gather to demand clarification on unpaid salaries at Jet Airways headquarters in Mumbai, India, Monday, April 15, 2019. (AP Photo/Rafiq Maqbool)
Creditors of India's beleaguered Jet Airways say that they are
Creditors of India's beleaguered Jet Airways say that they are "reasonably hopeful" that a bidding process with potential investors for a controlling stake in the airline will save the company. (AP Photo/Rafiq Maqbool)
Employees of Jet Airways gather to demand clarification on unpaid salaries at Jet Airways headquarters in Mumbai, India, Monday, April 15, 2019.  (AP Photo/Rafiq Maqbool)
Employees of Jet Airways gather to demand clarification on unpaid salaries at Jet Airways headquarters in Mumbai, India, Monday, April 15, 2019.  (AP Photo/Rafiq Maqbool)
A homeless woman looks at employees of Jet Airways as they gather to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
A homeless woman looks at employees of Jet Airways as they gather to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
An employee of Jet Airways cries as she joins colleagues in a gathering to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
An employee of Jet Airways cries as she joins colleagues in a gathering to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
Employees of Jet Airways gather to demand clarification on unpaid salaries at the company headquarters in Mumbai, India Thursday, April 18, 2019. (AP Photo/Rafiq Maqbool)
Employees of Jet Airways gather to demand clarification on unpaid salaries at the company headquarters in Mumbai, India Thursday, April 18, 2019. (AP Photo/Rafiq Maqbool)
Jet Airways employees gather to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
Jet Airways employees gather to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
Jet Airways employees gather to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
Jet Airways employees gather to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
An employee of Jet Airways cries as she joins colleagues in a gathering to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
An employee of Jet Airways cries as she joins colleagues in a gathering to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019. (AP Photo/Manish Swarup)
An employee of Jet Airways holds a placard as she joins colleagues in a gathering to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019.(AP Photo/Manish Swarup)
An employee of Jet Airways holds a placard as she joins colleagues in a gathering to appeal to the government to save their company, in New Delhi, India, Thursday, April 18, 2019.(AP Photo/Manish Swarup)
Employees of Jet Airways participate in a protest to demand clarification on unpaid salaries, in Mumbai, India, Friday, April 12, 2019. (AP Photo/Rajanish Kakade)
Employees of Jet Airways participate in a protest to demand clarification on unpaid salaries, in Mumbai, India, Friday, April 12, 2019. (AP Photo/Rajanish Kakade)
An employee of Jet Airways is consoled by his colleague during a protest demanding to
An employee of Jet Airways is consoled by his colleague during a protest demanding to "save Jet Airways" in New Delhi, India, April 18, 2019. REUTERS/Adnan Abidi
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