InvestorQ : Are the employees of Jet Airways also required to sign a deal with the new owners?
Anamika Sodhani made post

Are the employees of Jet Airways also required to sign a deal with the new owners?

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Angel dcosta answered.
4 weeks ago
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It has been made public that at least 95% of Jet Airways employees will have to give their consent to the Kalrock-Jalan proposal or lose the benefits offered under the revival plan. NCLT has already cleared the proposal to revive Jet Airways. This is a pre-condition for the employees to avail the benefits of being taken over by the new management and saving their jobs.

However, it does look like a raw deal for creditors. Against admitted claims of Rs.15,000 crore by Jet Airways, the Kalrock Jalan consortium will pay a paltry Rs.475 crore. In addition, creditors will also get a stake in Jet Airways. That looks like a bad deal for the financial and operational creditors of Jet Airways.

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