Employees of beleaguered airline Jet Airways are set to lose health insurance because the airline is not able to pay premium expenses. Jet Airways has been forced to quit all operations after it ran out of money to pay for everyday fees including aircraft gas.
The airline, which has registered back-to-again losses in a previous couple of quarters, has additionally been unable to pay the salaries of its pilots and other personnel. And now, those employees, who anyway stare at an unsure future, are set to lose their mediclaim guidelines.
In a letter to Jet Airways employees, the enterprise stated, “In the absence of any emergency investment from the creditors or any other supply of funds impending inside the near future, we discover ourselves going through a state of affairs where we aren’t able to fund the top class of our Group Mediclaim Policy.”
Jet Airways told its personnel that the mediclaim coverage might lapse at nighttime these days and they would have to search for new insurance from May 1 onwards. The airline started its insurance would provide employees “help within the rely”.
The letter additionally underlined the afflicted nation of Jet Airways. The letter said that the employer had made repeated requests to its lenders for emergency investment. However, the creditors have refused.
A consortium of banks led by using State Bank of India has refused to provide emergency cash and has chosen rather to attention on finishing a bidding system to discover a clean investor for Jet Airways.
Holding on to cash is more difficult than creating wealth.
Money for your hand is slippery and really tough to comprehend. Have you ever experienced this phenomenon? Read the stories of lottery winners. Read the sad memories of common people suddenly getting large windfalls. The widespread majority of lottery winners cross bankrupt in some years after receiving millions in coins. Millions… To nothing. In such a quick time.
How does this manifest?
It’s a principle taught with the aid of the high-quality minds in records, and never higher spoken than by way of the author of Ecclesiastes:
“When suitable things boom, folks who eat them boom. So what’s the advantage to their proprietors except to appear on?” Ecclesiastes five:11
If you’re making ten dollars you may discover something that expenses ten dollars, or more, nearly right away. Is this now not genuine? If you’re making 100 bucks, something will want to be paid that calls for 100 dollars, or extra. If you are making five hundred…
And the identical is true if you make $1000, $10,000, or $1M or greater… To any quantity.
No count who you’re, or what your earnings, something cash you acquire will search for a home – far away from you. It’s a truth of life. Keeping wealth on your possession is one of the hardest things to do, ever.
I believe there are some reasons for this:
Money is Most Fun When It is Spent
We like making money, but we additionally like spending it. Why? Because it makes us experience a positive way. Spending gives us sensations we revel in. If we pay payments with it, we experience comfortable, and at peace. If we purchase things with it, we experience carried out, or fancy, or cool. If we invest it, we sense sensible.
Money Is Desired By Everyone Else Too
Money on your pocket is money NOT in someone else’s pocket. If that a person wishes your money (which he does, in case you are thinking), he is going to try to get it. He will promote you something, or send you an invoice, or sue you, or probable steal from you. Everyone wishes what is yours simply as plenty as you do.