Mumbai: Bhoja Poojari has handled baggage for India’s Jet Airways since it began flying nearly 26 years ago. Now, like many other Jet employees, he fears for the future as the debt-laden airline descends into crisis.
“If this continues, I do not know what to do,” said the 53-year-old father of two, who has not been paid in nearly two months and may be forced to sell his house.
“I feel like my hands are tied and I can’t sleep at night,” Poojari said. “I haven’t told my children anything. They are very young, but they know something is wrong.”
Thousands of employees have been stung by the rapid unravelling of Jet Airways, which, saddled with more than $1.2 billion in bank debt, grounded all its planes on Wednesday after lenders rejected a plea for emergency funds.
The shutdown has deepened the crisis as dues to lessors, staff and suppliers pile up and lenders scramble to find a buyer for what was once India’s largest private airline.
Failure would threaten more than 16,000 staff jobs and thousands more tied to the airline.
More than a dozen employees said they had gone two to four months without pay. Many grapple with unpaid bills, overdue home loans, school and tuition fees.
“We have stopped going out for movies, to restaurants or any other form of entertainment,” said a Jet engineer, who is self-tutoring his children after cancelling private tuitions.
Jet pilots appealed for intervention from Prime Minister Narendra Modi, who is facing wider criticism over the scarcity of jobs as he campaigns for re-election in polls now underway.
Last month, Modi asked state-run banks to rescue Jet Airways without pushing it into bankruptcy, averting thousands of job losses. But the airline never received the agreed stop-gap loan.
“At least now we know the talks about caring for employment, creating jobs is all an eyewash,” Captain Asim Valiani, Vice President of the National Aviator’s Guild, said after the shutdown.