Jet Airways employees will get big relief, Rs 113 crore

Jet Airways was shut down in April 2019 due to heavy losses and debt.

Jet Airways was shut down in April 2019 due to heavy losses and debt.

After approval of the resolution plan from the National Company Law Tribunal (National Company Law Tribunal, NCLT), the company will have a capital of Rs 280 crore within 180 days.

  • News18No
  • Last Updated:February 25, 2021 at 5:52 AM

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.

read this also- Magicbricks survey claimed! 38% of customers want home loan from Rs 30 lakh to Rs 1 crore, demand for large loan increasesConsortium to invest Rs 280 crore in the company in 6 months

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.

Also read- PM Narendra Modi’s big announcement! Government will raise Rs 2.5 lakh crore by selling 100 government properties lying idle

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.



Leave a Reply

Your email address will not be published. Required fields are marked *