Jet Airways reportedly hit by mass resignation triggered by uncertainty over revival

Jet Airways reportedly hit by mass resignation triggered by uncertainty over revival

All this is happening because the new promoters Jalan-Karlrock consortium, and banks, are at loggerheads over the transfer of ownership.

FPJ Web DeskUpdated: Monday, December 26, 2022, 09:53 PM IST
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Photo by Joël Super from Pexels

Amid Indian aviation's high flying players that have been grounded, Air India has been welcomed back home by the Tata Group, which is doing everything from mergers to fleet expansion for its recovery. On the other hand, Jet Airways' return to the skies has been hit by turbulence due to multiple factors, including delays in ordering new aircraft. As uncertainty over Jet's revival grows, it has been reported that pilots, cabin crew and even senior management officials have chosen to step off board.

According to CNBC-TV18, following the resignation of several employees, the vice-president for inflight operations is on leave, while the Chief Executive Officer Sanjiv Kapoor and his Chief Financial Officer, have both been hit by pay cuts. Many others whose salaries were reduced chose to quit, and there are staff members on unpaid leave.

All this is happening because the new promoters Jalan-Karlrock consortium, and banks, are at loggerheads over the transfer of ownership. The dispute has now reached court, and employees are joining other carriers instead of waiting for a verdict.

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