Jet Airways employees will get big relief, Rs 113 crore

New Delhi. Jet Airways, which was closed in April 2019 due to heavy losses and debt, is ready to fly again in the sky. The consortium has proposed to invest Rs 600 crore in the first two years to repay the creditors and acquire 89.79 per cent stake in the company. According to the deal, employees and workmen will get Rs 113 crore in the first six months.

Proposal to pay Rs 1,183 crore in next five years
According to a Mint report, the consortium has proposed to pay Rs 1,183 crore in the next five years. Explain that Jet is buying a consortium of London-based asset management company Kailrock Capital and entrepreneur Murari Lal Jalan.

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After approval of the resolution plan from the National Company Law Tribunal i.e. Of this, Rs 107 crore will go to financial creditors, 43 crore CRIP, Rs 113 crore to employees and workmen, Rs 9 crore to other creditors and Rs 8 crore to contingency fund.

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17 thousand employees came on the road
Jet Airways was shut down in April 2019 due to heavy losses and debt. At that time the company’s promoter Naresh Goyal needed 500 crore rupees, but he could not raise it. The situation was that even the salary and other expenses of the employees were not able to come out. After the closure of Jet Airways, about 17 thousand of its employees came on the road. After this, Naresh Goyal was removed from the board of the company by the consortium of banks that loaned Jet Airways.