Jet Airways CEO Vinay Dube on Tuesday said that the management continues to work with the consortium of Indian lenders on the resolution plan with focus on securing interim funding to sustain and supporting the bank led balance sheet restructuring efforts to bring in fresh equity into the airline.
"Once we restore the much-needed network stability of the airline, our highest priority is to get more planes flying and to pay your salary arrears," he said in a letter to the staff after the airline's pilot union sent a legal notice to him on non-payment of salary dues of the last three months.
As on date, outstanding dues amount to 100 percent salaries of January, February and March.
"This situation is leading to extreme stress, anxiety and frustration amongst my client’s member pilots - hardly an ideal situation for pilots in the cockpit," the legal notice sent to Dube read.
The airline, which is currently waiting for a buyer, has not been paying pilots, engineers and senior management on time since August and payments have been made in tranches.
However, for the last three months, the truncated payments have also been stopped. In fact, the salaries of all 16,000 employees were not paid.
"In these circumstances, my client calls upon the management of Jet Airlines to pay the salaries outstanding for the months of January, February & March 2019 by 14th April 2019 (and future monthly salaries by the 1st of each proceeding month), failing which my client shall be constrained, instructed to inform you, to resort to all constitutional and legal methods available to it to ensure payment of the salaries to its members," the notice said.
The lenders to Jet Airways have not received a single expression of interest. However, generally, in such circumstances, companies have been seen submitting bids on the last date of submission.