A Jet Airways employees’ union has asked aviation regulator DGCA to stop allocation of the airline’s slots to other carriers till the bidding process for stake sale is complete. The All India Jet Airways Technicians Association (AIJATA) also cautioned that in case the allocation is not stopped, it would be forced to resort to legal means for a resolution.
Cash-starved Jet Airways suspended operations last week and the authorities are in the process of allocating the airport slots vacated by the carrier to other airlines, amid efforts to increase capacity to meet peak season traffic. Jet Airways’ lenders have invited bids for selling stake in the ailing airline and the final bidders are likely to be known by second week of May. SBI is the lead lender.
In a communication to the Directorate General of Civil Aviation (DGCA), the grouping has requested the regulator to immediately pause the slot allocation process till the bidding process is complete and to protect the value of the company. Read More