Jet Airways Crisis: Application Moved in Delhi High Court to Provide Prompt Refund and Relief to Customers Hit by Shutdown

Team Latestly
The Ministry of Corporate Affairs has directed the Serious Fraud Investigation Office (SFIO) to begin a probe into Jet Airways.

New Delhi, April 22: In a bid to provide some relief to the passengers hit by Jet Airways crisis, an application has been moved in Delhi High Court seeking direction to the Directorate General of Civil Aviation (DGCA) and Ministry of Civil Aviation to ensure prompt resolution of all the affected Jet Airways passengers. The application demands full refund of amount for the affected customers for their booked air tickets on the spot, or accommodate them in alternative flights. Jet Airways Crisis: Lenders Explore Ways to Utilise 15 Jet Planes, Protect Valuable Assets.

Also Read | Jet Airways Crisis: Arun Jaitley Promises to Look Into Issues, Says CEO Vinay Dube

Running into debt of more than Rs 8,500 crore, Jet Airways has shut down operations temporarily after lenders decided against extending emergency funds for its survival. Jet Airways Crisis: Arun Jaitley Promises to Look Into Issues, Says CEO Vinay Dube.

Cash-starved Jet Airways, which has around 23,000 employees, has delayed payment of salaries to the employees, including pilots.

Also Read | Jet Airways Pilot Shoots Tough Questions at Management for Keeping 22,000 Employees in the Dark

On Monday, share value of the temporarily closed airlines continued to fall for the third day in a row, tumbling over 23 per cent.

The scrip dived 19.34 per cent to Rs 132.20 — its 52-week low — on the BSE. At the NSE, shares plunged 23.17 per cent to hit a one year low of Rs 126.65.

On the traded volume front, 43.47 lakh shares of the company were traded on the BSE and over four crore shares on the NSE till afternoon. In three days, the scrip has plummeted over 49 percent.

Political leaders across party lines have demanded that the government step in to help the crisis hit airlines. Shiv Sena, the member of the NDA at the Centre, asked the government to take over Jet Airways so as to help the employees of the airways. While Congress leader Anand Sharma has demanded an inquiry into the "sudden grounding" of the airways. (With Agency Inputs)