Jet Airways Will Release The Salary Soon After Raising Rs 3000 Crore

Seeing that different options to revive the grounded Jet Airways as the fast running out, a group of airline employees has now written to the State Bank of India seeking the permission to allow the employees and external investors a bid for the company management control.

The employee representatives have also revealed that they will secure an investment of around Rs 3000 crore from a clutch of external investors.

The associations which have also sent the proposal are the Society for Welfare of Indian Pilots and Jet Aircraft Maintenance Engineers Welfare Association.

The associations this time have promised that employees would be going to contribute towards the revival of the airline from their increased productivity and future earnings.

“With respect to our initial communication, the contribution of employee group over a hypothetical 5-year Employee Stock Ownership Programme (ESOP) is likely to be upward of Rs 4,000 crore,” a joint letter to the SBI Chairman stated.

They also revealed that the decision had been taken with the extensive discussion with the various employee groups across the entire company and also with the colleagues who have successfully held senior management positions.

“We also recognize with some of the different legacy issues of high operating costs, over staffing, unfavorable vendor/lease agreements and adverse debt/equity ratio are involved,” the proposal letter said.

The associations have also urged the lenders to ensure the process of the entire de-registrations of aircraft and re-allocation of airports slots to be immediately reversed.

“… if not reversed quickly, (it) would spell doom for any future prospects of reviving the company,” the associations warned.

The lenders of the Jet Airways led by the SBI are as of now currently in the process of selling the airline to recover their whole dues of around Rs 8400 crore. Some of the private equity firms like the Indigo partners, TPG Capital, Etihad Airways and National Investment and Infrastructure are in the race to buy a high stake in the grounded airline.

Comments

Ten Richest Bollywood Actresses in India

The actresses in Bollywood are no less richer than the big malesuperstars of the industry. Let’s have a look at the richest ladies of the Indian show biz. 1. Aishwarya Rai Bachchan Said to be the most beautiful woman on Earth, Aishwarya Rai Bachchan is one of the most richest bollywood actresses in India. She is known for her light, blue eyes and her acting. She married Abhishek Bachchan ,and is mother to a daughter called Aaradhya. She looked jaw-droppingly gorgeous in Ae Dil Hai Mushkil and left people spellbound because of her beauty. 2. Deepika Padukone She debuted with Shah Rukh Khan in Om Shanti Om. She charges around Rs. 15 crore for a film. Her career went up the ante when she worked as a lead actress with Vin Diesel in XXX. Her controversial movie opposite Ranveer Singh is going to release next week after a lot of fuss, and cuts in the movie. 3. Anushka Sharma Anushka Sharma’s journey has been amazing in that she started her Bollywood jou

Tiger Shroff: Tiger Shroff Can’t Stop Fanboying Over Hrithik, Says He Calls Himself 'Gareebo Ka Hrithik Roshan'

It’s a well known fact that Tiger Shroff is a huge fan of Hrithik Roshan . At the point when many are swooning over Jackie Shroff's child, the Baaghi actor appreciates Hrithik. To such an extent, that he considers the Kaabil on-screen character his deity. What's more, it is out of the blue that the two will share screen space in an approaching YRF film. "It's a respect for me to remain in a similar casing as him. We are yet to shoot the move off. It's too hot at this moment, so we have delayed it. In any case, I am both energized and nervous about it," included Tiger Shroff. Tiger Shroff is a huge admirer of Hrithik Roshan and regularly posts recordings of him moving to the prevalent melodies of his preferred entertainer. A couple of months prior, Tiger had shared a video of himself moving to Hrithik's mainstream tune Deewana Hai Dekho from Kabhi Khushi Kabhie Gham. With the video, Tiger stated, "Fav movie...fav melody! #k3g @karanj

Ahead of Swearing-in, PM Narendra Modi Pays Tributes To Martyrs, Gandhi Ji And Atal Bihari Vajpayee

Narendra Modi visited Rajghat to pay his tribute to Mahatma Gandhi ahead of taking oath as PM of India. He also went to Sadaiv Atal, the memorial of late Atal Bihari Vajpayee, where he paid tribute to the former Prime Minister of India, Atal Bihari Vajpayee ji. Modi tweeted about paying the tribute to Atal Bihari Vajpayee and wrote, “We remember beloved Atal Ji every single moment. He would have been very happy to see BJP get such a great opportunity to serve people. Motivated by Atal Ji’s life and work, we will strive to enhance good governance and transform lives.” Later, Modi also visited the National War Memorial to pay his tribute to Jawans. Tweeting about paying respect to the Jawans, Modi declared, “India is proud of all those brave men and women martyred in the line of duty. Paid tributes to our brave soldiers at the Rashtriya Samar Smarak. Our government will leave no stone unturned to safeguard India’s unity and integrity. National security is our priority.” T

Flypped

Search This Blog