Business

Jet Airways Bankruptcy: Now Employees To Lose Mediclaim As Airline Out Of Money

Jet Airways Bankruptcy: Now Employees To Lose Mediclaim As Airline Out Of Money: You all should know that the Employees of Jet Airways aren’t having a very positive time. Reports are coming that the Jet Airways which is already bankrupt is still giving some nightmare to their employees. As you all might know that Jet Airways has been forced to cease all the operations after it ran out of money. Some sources are saying that Jet Airways will lose the medical insurance of their employees as the airline is unable to pay premium costs.

We think that the airline isn’t seeing a positive time. As you all might have seen that Jet Airways has faces some big back-to-back losses in the last few quarters. Also, the reports are coming that they aren’t able to pay the salaries of its pilots and other employees. Even you all should know that those employees, who anyway stare at an uncertain future, are set to lose their mediclaim policies which are quite bad news.

Also, the company said, “In the absence of any emergency funding from the lenders or any other source of funds forthcoming in the near future, we find ourselves facing a situation where we are not able to fund the premium of our Group Mediclaim Policy.” Also, the added, “its insurance would provide employees ‘assistance in the matter’.” Even, the sources are saying that the company had made repeated requests to its lenders for emergency funding.

Even the lenders have refused to pay the money to the airlines. Some sources are saying that the State Bank of India has refused to provide emergency cash. Also, they came up with a plan that they are going to focus on completing a bidding process to find a fresh investor for Jet Airways. We aren’t sure that any company, investor, or private entity would want to invest in the company.