Mass exodus: Pilots, top executives exit Jet Airways as uncertainty continues

NEW DELHI, DEC 27:  Amid growing uncertainty over Jet Airways’ comeback, some of its senior management, pilots, and cabin crew have left the grounded airline, according to sources. There are also reports that few senior executives have been sent on leave without pay and the airline’s chief executive officer, Sanjiv Kapoor, and chief financial officer, Vipula Gunatilleka, continue to work with a pay cut.

Jalan Kalrock consortium emerged as the winning bidder for Jet Airways under the insolvency resolution process in June 2021. Despite hiring industry veterans to commence operations, the airline continues to remain grounded.

Sources said that the vice President of engineering and human resources have left the airline. Some pilots and cabin crew have also left the airline to find better opportunities in operational airlines as some of them are on a hiring spree. 

Details about the current employee strength at the airline could not be verified. A senior executive at the airline, according to PTI, said the upside potential of a revived Jet Airways is tremendous for all stakeholders and customers. Earlier, the carrier had reduced salaries for many staff and sent many employees on leave without pay amid uncertainty over its future course.

In October, the National Company Law Appellate Tribunal (NCLAT) directed the consortium to pay the unpaid provident fund and gratuity dues of employees of the carrier. Against that backdrop, the consortium, on November 18, said it might take “difficult” near-term decisions to manage cash flows.

“While we await the handover of the company as per the NCLT process, the longer-than-expected time being taken for the same may result in some difficult but necessary near-term decisions to manage our cashflows to secure the future, while the airline is still not in our possession,” it had said.

-TNIE