Jet Airways pilots defer agitation plan citing border tension

National Aviators Guild (NAG) has deferred its proposed agitation from next month in view of the developments on the nation's Western borders. The airline has been delaying salaries to its pilots along with engineers and senior management since last August. It has a debt of nearly Rs 8,200 crore and needs to make repayments of up to Rs 1,700 crore by March-end.

Mumbai:Jet Airways domestic pilots body,National Aviators Guild (NAG) on Wednesday deferred its proposedagitation from next month in view of the developments on thenation's Western borders.

The Naresh Goyal-founded airline has 1,600 pilotsover 1,100 of whom are unionised and represented by the NAG.

Pilots had on Monday said that they would not performadditional duties and wear black bands from March to protestagainst salary delays.

The airline has been delaying salariesto its pilots along with engineers and senior management sincelast August.

"As you are aware, we were planning a flight safetyperiod from March 1. Everything, however, needs to be done atan appropriate time. The country is in a state of high alertfollowing the events across the border. At a time like this,we need to stand united with the rest of the country," NAGsaid in a communication to its members.

"All are informed that the flight safety period andthe black band protest has been called off till furthernotice," the guild added and expressed hope that all itsmembers will see the reason in deferring the protest call andstand united behind the decision.

Meanwhile, the airline on Tuesday paid the balance 25percent of the November salary and 12.50 percent of theDecember salary, as per a communique sent to pilots, NAG had on Mondaysaid 25 percent of November salary along with 12.5 percentof December salary would be processed in February.

Jet Airways has a debt of nearly Rs 8,200 crore andneeds to make repayments of up to Rs 1,700 crore by March-end.

In the three months to December 2018, the airlinereported the fourth consecutive quarterly net loss of Rs 732crore. Due to liquidity crunch, the airline has defaulted onpayment of principal and interest to a consortium of domesticbanks besides payments to lessors and a section of employees.

On February 14, the airline board approved a bank-Ledprovisional debt resolution plan, whereby lenders wouldbecome the largest shareholders in the airline owning up 51percent equity. But the plan is yet to get the final nod.

Its shareholders had recently approvedconversion of debt into equity and other proposals during theextraordinary general meeting.

With inputs from PTI.