The pilots’ union of the cash-strapped Jet Airways stated on Sunday it can give the provider’s new administration two weeks to clear unpaid salaries, deferring its plan to take strike motion.
Jet Airways has delayed payments to pilots, suppliers and lessors for months and defaulted on loans after racking up greater than $1 billion in debt. The airline was bailed out on Monday by state-run banks, which have quickly taken a majority stake within the firm and given it a brand new mortgage of $218 million.
The National Aviators Guild, the union of Jet pilots, had deliberate to go on strike from April 1 due to non-payment of salaries.
The pilots’ union has determined to provide Jet Airways’ new interim administration till April 14 to clear wage dues “in conjunction with interim funding”, and deferred the plans of a strike till then, the National Aviators Guild stated in an announcement to its members, which was seen by information company Reuters.
Once India’s main full service provider, Jet Airways struggled to compete with low-cost carriers in recent times.
In the previous few weeks, its chairman stepped down from the airline’s board and lenders stepped in to rescue the airline from the brink of chapter.
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