BIZ-JET-DUBE

Jaitley promised to look into Jet Airways' issues: CEO
    New Delhi/Mumbai, Apr 20 (PTI) Finance Minister Arun
Jaitley has assured to look into cash-strapped Jet Airways'
issues that have forced the airline to halt operations
temporarily, its chief executive Vinay Dube said Saturday.
    Dube, along with Maharashtra Finance Minister Sudhir
Mungantiwar, civil aviation secretary Pradeep Singh Kharola,
the airline's chief financial officer Amit Agarwal,
representatives of pilots, engineers, cabin crew and ground
staff unions met Jaitley at his residence in Delhi.
    At least one month's salary was needed to be paid to
the employees for retaining them, Dube said, speaking to
reporters later.
    "To keep them where they are and to give them hope we
need to pay them at least a month's salary or more. The
finance minister has assured us to look into that," Dube said
after the meeting.
    Jet Airways, which ceased all operations Wednesday,
has not paid to its entire staff for March.
    Jet would require around Rs 170 crore to clear at
least one month's salary of its employees, Dube stated.
    During the meeting which lasted for more than an hour,
the Jet CEO also said that competition in the aviation sector
is "important" and requested the Union Finance Minister to
ensure an "open, transparent and efficient" bidding process.
    The Jet Aircraft Maintenance Engineers Welfare
Association (JAMEWA) also submitted a representation to
Jaitley, saying "the airline is sinking for want of funds and
taking away the livelihood of 23,000 people".
    It said the grounding of the carrier has affected not
only the airline's employees but others as well, such as the
passengers who are not only stranded across airports but are
also paying much higher price for the flights due to a sharp
spike in air fares.
    Shops in retail areas of airports are facing a "lull",
it said.
    "We explained to the finance minister the prevailing
situation at the carrier. We told him that the bidding process
has to be expedited and funds need to be infused. Jaitley
agreed with our demand on the sale process and also said that
he will talk to the banks," said Aseem Valiani, vice president
of the National Aviator's Guild (NAG), which represents around
1,000-odd pilots of Jet Airways.
    Valiani said that in their meeting with Kharola at
Rajiv Gandhi Bhawan (which houses the civil aviation ministry)
earlier in the day, the management sought six-months' credit
line with oil companies and extension of payment window to
airport operators.
    Earlier this month, SBI Caps, on behalf of the
lenders, invited bids for selling upto 75 percent stake in the
airline. PTI IAS RAM
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