LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Arun Jaitley promises to look into Jet Airways' issues: CEO Vinay Dube

Finance Minister Arun Jaitley has assured to look into cash-strapped Jet Airways' issues that have forced the airline to halt operations temporarily, its chief executive Vinay Dube said Saturday.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Arun Jaitley promises to look into Jet Airways' issues: CEO  Vinay Dube
Jet Airways, which ceased all operations Wednesday, has not paid to its entire staff for March. Jet would require around Rs 170 crore to clear at least one month's salary of its employees, Vinay Dube said. Image source: IANS
Written By: PTI
Updated: Sun, Apr 21, 2019
07:19 am
PTI
RELATED NEWS
Exclusive: Are the infamous Gupta Brothers of South Africa secretly buying Jet Airways? Exclusive: Are the infamous Gupta Brothers of South Africa secretly buying Jet Airways?
Exclusive: Jet Airways deal will put country's airports at risk Exclusive: Jet Airways deal will put country's airports at risk
Kalrock Capital and Murari Lal Jalan plan for Jet Airways submitted to NCLT Kalrock Capital and Murari Lal Jalan plan for Jet Airways submitted to NCLT
Jet Airways may fly again in just months Jet Airways may fly again in just months
Jet Airways share price soars, hits upper circuit for 8th consecutive day, gives 261% return in 7 months Jet Airways share price soars, hits upper circuit for 8th consecutive day, gives 261% return in 7 months

Finance Minister Arun Jaitley has assured to look into cash-strapped Jet Airways' issues that have forced the airline to halt operations temporarily, its chief executive Vinay Dube said Saturday. Dube, along with Maharashtra Finance Minister Sudhir Mungantiwar, civil aviation secretary Pradeep Singh Kharola, the airline's chief financial officer Amit Agarwal, representatives of pilots, engineers, cabin crew and ground staff unions met Jaitley at his residence in Delhi.

At least one month's salary was needed to be paid to the employees for retaining them, Dube said, speaking to reporters later. "To keep them where they are and to give them hope we need to pay them at least a month's salary or more. The finance minister has assured us to look into that," Dube said after the meeting.

Jet Airways, which ceased all operations Wednesday, has not paid to its entire staff for March. Jet would require around Rs 170 crore to clear at least one month's salary of its employees, Dube stated. During the meeting which lasted for more than an hour, the Jet CEO also said that competition in the aviation sector is "important" and requested the Union Finance Minister to ensure an "open, transparent and efficient" bidding process.

Watch Zee Business Live here:

The Jet Aircraft Maintenance Engineers Welfare Association (JAMEWA) also submitted a representation to Jaitley, saying "the airline is sinking for want of funds and taking away the livelihood of 23,000 people". It said the grounding of the carrier has affected not only the airline's employees but others as well, such as the passengers who are not only stranded across airports but are also paying much higher price for the flights due to a sharp spike in air fares.

Shops in retail areas of airports are facing a "lull", it said. "We explained to the finance minister the prevailing situation at the carrier. We told him that the bidding process has to be expedited and funds need to be infused. Jaitley agreed with our demand on the sale process and also said that he will talk to the banks," said Aseem Valiani, vice president of the National Aviator's Guild (NAG), which represents around 1,000-odd pilots of Jet Airways.

Watch this Zee Business video here:

Valiani said that in their meeting with Kharola at Rajiv Gandhi Bhawan (which houses the civil aviation ministry) earlier in the day, the management sought six-months' credit line with oil companies and extension of payment window to airport operators. Earlier this month, SBI Caps, on behalf of the lenders, invited bids for selling upto 75 percent stake in the airline.

Speaking to PTI in Mumbai, state finance minister Mungantiwar said the delegation requested Jaitley to expedite the bidding process. "We also sought two months' fuel credit for the airline," he said.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Jet AirwaysAviation
RELATED NEWS
Exclusive: Are the infamous Gupta Brothers of South Africa secretly buying Jet Airways? Exclusive: Are the infamous Gupta Brothers of South Africa secretly buying Jet Airways?
Exclusive: Jet Airways deal will put country's airports at risk Exclusive: Jet Airways deal will put country's airports at risk
Kalrock Capital and Murari Lal Jalan plan for Jet Airways submitted to NCLT Kalrock Capital and Murari Lal Jalan plan for Jet Airways submitted to NCLT
Jet Airways may fly again in just months Jet Airways may fly again in just months
Jet Airways share price soars, hits upper circuit for 8th consecutive day, gives 261% return in 7 months Jet Airways share price soars, hits upper circuit for 8th consecutive day, gives 261% return in 7 months

LATEST NEWS

TMC Candidates List 2021 - Names of 291 candidates announced for West Bengal Elections; See Complete List Here

TANCET 2021: Anna University to release admit cards for the exam today: Check here where to download, exam dates and all other details at tancet.annauniv.edu/tancet

CBSE Board Exam 2021: Class 12 students, check CBSE scheme of studies; Don't miss out

CBSE Class 10, Class 12 date sheet revised—check new time table, instructions here

About 580,000 frequent fliers' data breached, says Singapore Airlines

Aadhaar card-based driving licence service: Check step by step guide to renew your driving licence online without going to RTO

7th Pay Commission latest news today: Big Holi gift for Central government employees! Center issues this notification on 7th CPC leave rule

Exclusive: Are the infamous Gupta Brothers of South Africa secretly buying Jet Airways?

MTAR Technologies IPO: Last Day to subscribe for the issue, retail portion subscribed over 16 times on 2nd day

Pope Francis arrives in Baghdad for risky, historic Iraq tour

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved