Earlier, Ashish wrote a letter to Sanjeev Kapoor asking him not to refer to himself as the CEO. Because, he is only CEO-designate. The consortium has sought a copy of the minutes of the meeting in which the matter of Sanjeev Kapoor was discussed in the JET Vigilance Committee. At present, the affairs of Jet Airways are looked after by a seven-member monitoring committee. Apart from Ashish, the committee has three representatives each from consortium and financial creditors. In October 2020, the airline’s committee of creditors approved the resolution plan of the Jalan-Kalrock consortium. The Jalan-Calrock consortium was declared the winner after Jet’s bankruptcy proceedings began in June 2021. All Jet Airways services have been suspended since April 2019.
However, many senior executives, pilots and cabin crew have already left the company due to uncertainty over the re-flight of the jet. According to sources, Mark Turner, Jet Airways’ vice president of in-flight services, was placed on unpaid leave last month. Sanjeev Kapoor and Chief Financial Officer Bipula Gunatileka, however, remain with the company on reduced salaries. Many of the pilots and cabin crew who were on standby have left the jet and joined other airlines, informed sources said. Some managerial level staff are on unpaid leave. On the other hand, many of those whose salaries have been cut have resigned, according to sources.
In November last year, Jet Airways cut up to 50 percent of the salaries of several of its employees. Besides, some workers have been sent on unpaid leave. State Bank of India, which leads Jet’s lender banks, said Jet’s new buyer, the Jalan-Calrock consortium, will have to pay an additional Rs 250 crore to the workers’ pension fund. However, the Jalan-Kalrock consortium stated that this additional amount was not in the settlement plan approved by the NCLT last year and was instead deducted from the dues of the banks. Jalan-Kalrock Consortium is also willing to pour in new funds if it does not get control of Jet. So far, the Jalan-Kalrock consortium has reportedly spent about Tk 760 crore in efforts to get the jet back into the air.