India

Jet Airways Cuts Salaries, Sends Several Employees On Leave Without Pay

New Delhi: Grounded carrier Jet Airways has temporarily docked the salaries of some of its staff by up to 50 per cent, and sent some on leave without pay, Moneycontrol reported quoting sources, who added that the changes are effective December 1.

On November 18, CNBC TV-18 reported that Jet Airways had sent 60 per cent of its employees, including senior managers, on leave without pay. Kapoor had taken to Twitter to assert that the news was “100% false.’’ Trying to calm nerves, Kapoor also tweeted: “No one is being fired.”

The news comes in the wake of the airline’s revival hitting yet another hurdle after the new owner, the Jalan-Kalrock consortium, told the National Company Law Appellate Tribunal (NCLAT) of its inability to pay additional monies to clear staff provident fund (PF) and gratuity dues of around Rs 250 crore.

On October 21, the NCLAT directed the consortium to clear employees’ unpaid PF and gratuity dues until June 2019, when the insolvency process was initiated. The Jalan-Kalrock consortium has said that while they await the handover of Jet Airways per the NCLT process, the longer-than-expected time taken for the same may result in some difficult decisions.

“While we await the handover of the airline per the NCLT process, the longer-than-expected time taken for the same may result in some difficult but necessary near-term decisions to manage our cash flows to secure the future,” a spokesperson of the consortium was quoted as saying.

OB Bureau
Share
Published by
OB Bureau

Recent Posts

Latest Odisha Breaking News Updates | Friday, 07 February 2025

Stay ahead with Odisha Bytes Breaking News - your ultimate source for the fastest, most… Read More

4 hours ago

Deworming & Lymphatic Filariasis Elimination Campaigns Next Week In Odisha

Bhubaneswar: The Odisha government will launch a deworming campaign across the state on February 10,… Read More

11 hours ago

IIT-Madras Team Inspects Black Spots In Odisha’s Berhampur, Spells Measures For Road Safety

Bhubaneswar: A team from IIT-Madras on Thursday inspected black spots, high-risk accident-prone areas, and identified… Read More

11 hours ago

Citizens Forum Meets IG Over ‘Anti-National Programme’ On College Campus In Odisha’s Jharsuguda

Sambalpur: The citizens forum, Jharsuguda, on Thursday met IG (Northern Police Range) Himanshu Lal, seeking… Read More

12 hours ago

When ‘Two Pegs Of Scotch’ Broke Mamta Kulkarni’s Navratri Fast

New Delhi: Former Bollywood actress Mamta Kulkarni recently grabbed headlines following her short-term appointment as… Read More

12 hours ago

TPCODL Busts Meter-Tampering Racket In Cuttack’s Athagarh

Cuttack: Tata Power Central Odisha Distribution Limited (TPCODL) recently busted an electricity meter tampering racket… Read More

12 hours ago