More than a thousand pilots of India's debt-laden Jet Airways will not fly ...
NEW DELHI - More than a thousand pilots of India’s debt-laden Jet Airways will not fly from Monday as they have not been paid salaries for the past three months, President of the National Aviators Guild said on Sunday.
Saddled with more than $1.2 billion of bank debt, the airline has been teetering for weeks and has yet to receive a loan of about $217 million from its lenders as part of a rescue deal agreed in late March.The crisis at Jet has deepened in recent weeks as lessors have started applying to deregister planes, signaling the planned bailout had failed to assuage their concerns.
After the meeting, Kharola said the carrier had money to operate 6-7 planes over the weekend and after that the lenders would have to decide how many jets it could fly after Monday afternoon, news channel ET Now reported late on Friday. According to a Business Standard newspaper report on Sunday, Jet’s lenders, led by the State Bank of India, are considering a proposal to infuse 10 billion rupees to keep the airline afloat.
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