Jet asks Govt funds for employee salaries |
According to Jet Airways CEO Vinay Dube, retaining employees and key airport slots is crucial for the sale of stake in the troubled airline. Jet Airways management has now turned to the govt for help. It has asked the government to release 25 million dollars to pay one-month of salary to its staff. The airline has also asked to retain prime airport slots in order to retain some value for the new investor. A delegation from Jet representatives, led by CEO Vinay Dube and Deputy CEO Amit Agarwal also met th Finance Minister Arun Jaitley on Thursday and requested for the Govt`s aid in the matter to revive the near dead AIrline. However there was no concrete outcome of the meeting but the Finance Minister assured to forward the request to the banks. Civil Aviation secretary Pradeep Singh Kharola was also a part of the meeting. The airline shut its operations on April 17 as banks refused to release emergency funding of 57 million dollars. The lenders consortium refused to release money as they felt they don`t have enough collateral to extend further credit.
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