The AeroNation
No Result
View All Result
  • Home
  • News
    • Aerospace
    • Airlines
    • Airports
    • Cargo
    • Defence
    • General Aviation
  • By Region
    • India
    • Europe
    • United States
    • World
  • Featured
    • AME
      • AME Module Questions
    • Exclusive
    • Historical
  • AME Questions
  • Home
  • News
    • Aerospace
    • Airlines
    • Airports
    • Cargo
    • Defence
    • General Aviation
  • By Region
    • India
    • Europe
    • United States
    • World
  • Featured
    • AME
      • AME Module Questions
    • Exclusive
    • Historical
  • AME Questions
No Result
View All Result
The AeroNation
No Result
View All Result
  • Home
  • Aerospace
  • Airlines
  • Airports
  • Defence
  • By Region
  • Featured
Home By Region India

SC rejects JKC’s appeal for the payment of employee dues for Jet Airways | Exclusive

Shweta Shukla by Shweta Shukla
January 30, 2023
Reading Time: 4 mins read
0
SC rejects JKC’s appeal for the payment of employee dues for Jet Airways | Exclusive
7
SHARES
WhatsappFacebookTwitter

After the Supreme Court of India decided not to challenge the National Company Law Appellate Tribunal’s (NCLAT) decision regarding the matter, Jet Airways is now facing a payment of millions to its former employees.

You Might Like this

American Airlines officially announced that it’s eliminating international first class

Due to a water leak, an American Airlines B777 diverts to Frankfurt airport

March 25, 2023
Go First was penalized Rs ten lakh for abandoning 55 passengers at the airport in Bengaluru

In Delhi airport, Go First is prohibited from operating flights for 2 hours

March 24, 2023

Supreme Court

The airline is in the midst of a mission to clean up its financial mess to restore operations, but there have been several obstacles along the road.

jet airways
Jet Airways | Theaeronation.com

The NCLAT had ordered Jet Airways to take on the burden of paying off ex-employee debts totaling tens of millions of dollars, and the Indian Supreme Court agreed with them.

The court recognized the necessity for “finality” in this case, according to reports, which cites a bench chaired by the Chief Justice as saying,

There are overwhelming labor dues, as anyone entering would realize. A conclusion must be reached. No interference from us.

The consortium will also need to provide an additional $24.5 million to the payment, which could jeopardize the carrier’s resuscitation strategy as a whole, according to what he added.

Also, read

  • Qantas adds more India destinations with the IndiGo codeshares agreement
  • Passengers shocked; Indigo asked to arrive 3.5 hours early with one bag at Delhi Airport | Exclusive
  • A double-engine separation occurred in a Boeing 747

Jet Airways

Employee compensation is a significant problem that has only made Jet Airways’ problems worse as it struggles to resume operations.

The issue of unpaid provident funds and gratuity dues of former Jet employees has been a point of contention among Jet’s creditors since November of last year.

jet airways
Jet Airways | Theaeron.com

As part of its resolution strategy, the Jalan-Kalrock Consortium had committed to spending 13.7 billion ($168 million). Of this, about $58 million was to be paid to the creditors, and the remaining $110 million was to be used as cash infusion. According to the authorities estimates, the present ex-employee liabilities are much higher than what Jet had budgeted for.

National Company Law Tribunal

The Jalan-Kalrock Consortium was given ownership of Jet Airways earlier this month after the National Company Law Tribunal (NCLT) gave its approval. This was in response to the consortium’s requests to grant two petitions—one to legalize the transfer of ownership and the other to prolong the deadline for paying creditors—both of which were filed. Jet was given a six-month extension to make the payments after its original due date of November 16th, 2022, even though it missed it.

However, Jet’s lenders appealed that decision to National Company Law Tribunal (NCLAT), requesting a stay of that decision because the consortium had not satisfied all requirement precedents, including obtaining domestic flight slots and international traffic rights.

jet airways
Jet Airways | Theaeronation.com

Jet missed the deadline to resume flying last year, and the beginning of this year hasn’t been all that exciting either. It appears that more time is still needed before the airline’s future can be more clearly understood.

Thank you

Stay updated with Theaeronation.com

Tags: AirportsAirports newsAirwaysAviationBreaking newsIndiaInternationalJet airwaysJet Airways News todayStaffSupreme Court of IndiaThe Aero Nation News
SendShare3Tweet2ShareShare
Previous Post

After a UK airline ceases trading, Flybe flights are canceled

Next Post

India is now the third-largest aviation market in the world: President Murmu

Shweta Shukla

Shweta Shukla

Journalist and graduate from India, Shweta has a passion for aviation and travel. She has an interest in Aviation Journalism and she writes articles for Aviation A2Z and its group for more than 1 years.

Related Posts

American Airlines officially announced that it’s eliminating international first class
United States

Due to a water leak, an American Airlines B777 diverts to Frankfurt airport

March 25, 2023
Go First was penalized Rs ten lakh for abandoning 55 passengers at the airport in Bengaluru
India

In Delhi airport, Go First is prohibited from operating flights for 2 hours

March 24, 2023
O’Leary, CEO of Ryanair, says that talks with Boeing over a new aircraft order have resumed
Exclusive

O’Leary, CEO of Ryanair, says that talks with Boeing over a new aircraft order have resumed

March 23, 2023
Adani Group plans to take over more airports in India, CEO Bansal said | Exclusive
India

Adani Group plans to take over more airports in India, CEO Bansal said | Exclusive

March 22, 2023
Air India will add six Boeing 777s and six Airbus A320s in 1st half of 2023 | Exclusive
India

Due to a lack of crew, Air India may reduce its flight schedule

March 21, 2023
On landing in Hyderabad airport, a hailstorm damages an IndiGo Airbus
India

On landing in Hyderabad airport, a hailstorm damages an IndiGo Airbus

March 20, 2023
Next Post
India is now the third-largest aviation market in the world: President Murmu

India is now the third-largest aviation market in the world: President Murmu

Airbus and Qatar are edging closer to settling their A350 dispute -sources

Airbus and Qatar are edging closer to settling their A350 dispute -sources

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Jet-airways-news

Jet Airways 2.0 New CEO Sanjiv Kapoor rates Digi Yatra app 9 out of 10 | Exclusive

December 11, 2022
Exclusive News: The UK Aviation to cut Heathrow airport charges after airline protests

Exclusive News: The UK Aviation to cut Heathrow airport charges after airline protests

September 17, 2022
LATAM flight makes emergency landing after suffering nose, engine, and windshield damage due to a storm

LATAM flight makes emergency landing after suffering nose, engine, and windshield damage due to a storm

November 20, 2022

Popular Stories

  • Indigo airlines cabin crew fight with passenger viral video

    Indigo Cabin Crew Viral video over fight with passengers | Exclusive

    1392 shares
    Share 557 Tweet 348
  • Jet Airways CEO shares First look of New Livery of B737-8 and More | Exclusive

    848 shares
    Share 339 Tweet 212
  • Jet Airways: Good News is they have added 3 new aircraft and Bad news is NCLT case Unsolved

    731 shares
    Share 292 Tweet 183
  • First Look Inside New Air India B777 flying soon from Mumbai to San Fransisco | Exclusive

    562 shares
    Share 225 Tweet 141
  • Tata-owned Air India removes ‘non-profitable’ routes from domestic flight routes | Exclusive

    391 shares
    Share 156 Tweet 98
The AeroNation

The Aero Nation is a subsidiary of Aviation A2Z which provides the Latest News related to Aerospace, Airlines, Cargo, Exclusive Blogs, and Much More.

We are India’s leading aviation organization dedicated towards supporting and helping aviation professionals.

Recent Posts

  • Due to a water leak, an American Airlines B777 diverts to Frankfurt airport
  • In Delhi airport, Go First is prohibited from operating flights for 2 hours
  • O’Leary, CEO of Ryanair, says that talks with Boeing over a new aircraft order have resumed

Categories

  • Aerospace
  • Airlines
  • Airports
  • By Region
  • Cargo
  • Defence
  • Europe
  • Exclusive
  • Featured
  • General Aviation
  • Historical
  • India
  • News
  • Uncategorized
  • United States
  • World

© 2022 The Aeronation - Made with ❤️

No Result
View All Result
  • Home
  • News
    • Aerospace
    • Airlines
    • Airports
    • Cargo
    • Defence
    • General Aviation
  • By Region
    • India
    • Europe
    • United States
    • World
  • Featured
    • AME
      • AME Module Questions
    • Exclusive
    • Historical
  • AME Questions

© 2022 The Aeronation - Made with ❤️