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Bank unions come in solidarity with Jet Airways employees; propose special loans

Prachi Gupta
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Amid aggravating Jet Airways crisis, the fate of over 20,000 Jet s employees hangs mid-air as they have lost not only their jobs but also seek three months salary. However, Jet Airways employees have found an ally in bank unions who have suggested that special loans should be given to help them in their woes.

Ask member banks to device a special loan scheme to the Jet staff to help them tide over their present financial problems,” the union said in the letter to the Indian Banks Association. Along with this, the unions have proposed that the government should take over the troubled airline or that it should be merged with Air India, in order to save the jobs of the airline staff, they wrote in a letter to the Prime Minister last week.

Jet Airways needs at least Rs 170 crore in funds to clear a month s salaries of the employees, Jet Airways CEO Vinay Dube had said earlier. Jet Airways employees have been protesting to urge the government to save their jobs and the Jet family . The nation has sympathised with their cause with Twitter standing in solidarity with Jet employees. Some rival airlines have absorbed some staff of the Jet s crew.

The ailing airline had long struggled to stay afloat before deciding to temporarily shut down operations just a few days back. Rival airlines such as Air India, in the meanwhile, submitted requests to gain permission to fly on the Jet Airways routes and operate its Boeing 777 aircraft. The lenders are also looking to leverage the 16 planes that were owned by Jet Airways as they can be further sold for good prices or leased.

Meanwhile, Mukesh Ambani is reportedly looking for a stake in Naresh Goyal-founded airline, The Indian Express said citing sources. However, Reliance Industries has not submitted an Expression of Interest until now.