Jet Airways financial woes — ₹8,600 crore debt
Jet Airways' ₹8,600 crore liability and delayed salaries for 15% of staff pose a significant risk to JetPrivilege members, who may want to consider using their points or switching to alternative programs.
Jet Airways pilots are threatening to revolt over unpaid salaries. 15% of staff have had their salaries delayed since August 2018, with total bank liabilities exceeding ₹8,600 crore. This public sign of distress is a red flag for JetPrivilege members.
The delayed salaries and ballooning liabilities indicate that Jet Airways is facing financial difficulties. This could compromise the airline’s ability to operate safely and effectively, which may impact JetPrivilege members who rely on the airline for their travel needs.
Our take: this is a clear warning sign that JetPrivilege members should not ignore. With the airline’s financial troubles mounting, it may be wise for members to consider alternative loyalty programs or use their points before the situation worsens.