Jet Airways defers March salary payment to its 16,000 employees

Cash-starved Jet Airways Wednesday deferred the March salary payment to its employees, citing "complexities" involved in the finalisation of the debt-recast plan, under which the SBI-led consortium of lenders has taken over the management control of the airline.

Earlier, the airline had been delaying the salaries of its pilots, engineers and senior staff since August who have not been paid since January.
 

The company has over 16,000 employees on its payroll.

"Given the complexities of such (finalisation of the resolution plan) processes, it has taken us longer than expected. However, we continue to strive and are in continuous deliberations with the lenders