‘100% false information’: Jet Airways’ CEO on report of 60% workers being despatched on unpaid depart

Sanjiv Kapoor, CEO for Jet Airways, on Twitter termed a report saying 60% of Jet Airways’ present staff, together with senior administration, being despatched on unpaid depart with out pay for 3 months as “100% false info”.

In one other tweet on Friday, Kapoor mentioned “nobody is being fired”.

Amid the persevering with uncertainty over the destiny of grounded Jet Airways, the Jalan Kalrock Consortium (JKC) on Friday mentioned it has not breached any phrases of the insolvency decision plan and may take tough near-term choices to handle cashflows.

Ankit Jalan, Board Member of the JKC, mentioned the revived Jet Airways may even present extra profession alternatives, together with the airline’s former workers who at present make up greater than 60 per cent of the present workforce, and for a lot of extra because the revived airline grows.

The consortium’s decision plan was permitted by the Nationwide Firm Regulation Tribunal (NCLT) in June final yr however the airline, which additionally received its air operator certificates revalidated by aviation regulator DGCA in Could this yr, is but to start out operations.

”… whereas we await the handover of the corporate as per the NCLT course of, the longer-than-expected time being taken for a similar might end in some tough however mandatory near-term choices to handle our cashflows to safe the long run whereas the airline remains to be not in our possession,” the Jalan Kalrock Consortium mentioned in a press release.

It didn’t elaborate on the selections that might be taken to handle the cashflows.

”We’ve not breached any time period of the decision plan, and we stay dedicated to the revival of Jet Airways,” the consortium mentioned, including that it has made important progress to relaunch the airline.

The assertion additionally comes in opposition to the backdrop of the Nationwide Firm Regulation Appellate Tribunal (NCLAT), final month, directing the consortium to pay the unpaid provident fund and gratuity dues of staff of the provider.

“After the NCLT’s approval, all situations precedent, as outlined within the decision plan, had been accomplished by Could 20, 2022, and the mandatory filings on this regard had been made earlier than the NCLT on Could 21, 2022.

”JKC has deposited Rs 150 crore as required underneath the court docket permitted decision plan with the lenders, with the remaining quantities to be invested solely after subsequent steps of NCLT are fulfilled when it comes to handover of the corporate to us,” the assertion mentioned.

Earlier, it was deliberate that the airline can be launched in October 2022.

Kapoor mentioned it has LOIs (Letters of Intent) in place for plane, engines, IT techniques, Floor Dealing with Companies, Catering, Name Centre, and the entire different providers required to run an airline.

Final month, the NCLAT directed the consortium to pay the unpaid provident fund and gratuity dues of staff of the provider.

The appellate tribunal had additionally directed the previous decision skilled of the airline to ”compute the funds to be made to workmen and staff inside one month from in the present day” and talk the identical to the consortium to take steps for the fee.

Earlier this week, Kalrock Capital mentioned the continued investigations associated to its promoter Florian Fritsch in overseas jurisdictions could have no influence on the acquisition of Jet Airways.

Fritsch has come underneath the lens of regulatory businesses in Liechtenstein, Switzerland, and Austria.

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