Jet Airways pilots threaten strike amid more flight cancellations

Understanding what lies ahead of Jet Airways

The Prime Minister's Office (PMO) had convened an urgent meeting on Friday to discuss the crisis after the airline could operate only 11 aircraft, leaving passengers stranded at various domestic and global airports. "Pilots, engineers and managers have not received salaries for the last three months, and salaries have been irregular for the last seven to eight months", said Valiani.

Troubled Indian airline Jet Airways pilots are protesting outside their company headquarters after last weeks announcement to ground worldwide flights. So we have made a decision to go ahead with our call of no-flying from April 15.

"It has come to our notice that there is a critical meeting planned on Monday morning with the airline management and SBI".

Meanwhile, the airline extended the suspension of its services to Toronto and Paris from Chennai and back, besides withdrawing services from SAARC and ASEAN routes for an indefinite period. Therefore the "call of No Pay No Work stands deferred for the time being" to give the airline a chance of survival, it said.

Around the same time, the company announced it was low on working capital. Not only the airline has been failed to pay full salaries to its employees for months but also defaulted on several payments.

The airline is operating just 6-7 planes, with nearly its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.

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Not only the airline but also the journey over the past four-five months have been extremely hard for ground staff at the airline, they have been humiliated by passengers over the cancellation of flights besides facing financial hurdles.

The Guild has requested its members to be present at the airline's headquarters, Siroya Centre, in Mumbai's Andheri suburb at 9.30 am on Monday in their uniforms.

The Monday meeting between Jet's management and the SBI-led consortium is expected to take a final decision on the quantum of funds to be injected in the carrier with immediate effect to avert a possible shut down.

Jet Airways' stock was off 7.6% at Tuesday's close.

An SBI spokesman could not immediately comment on the emergency funding being considered by lenders for Jet Airways.

Among other contenders, the founding chairman Naresh Goyal also joined the race on Friday by submitting an Expression of interest (EoI) for buying a stake in Jet Airways minutes before the deadline.

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