Naresh Goyal led Jet Airways has asked its pilots to forego 10 days of salary in a month which effectively works out to 1/3rd of their salary cuts.
“Certain developments in the market, including that of the Gulf region, as well as our continued efforts to enhance internal efficiencies, has resulted in the review of our network, fleet and crew utilisation.
“Consequently, as a proactive measure, the company has made interim alignments to its crew work patterns, which will be reviewed in future, in line with network growth,” the Jet Airways statement said.
The implication will only be on Junior Pilots or Co-Pilot of Jet Airways who with an experience of one year earns over Rs 200,000 per month. The salary that would be effective after the cuts would be around Rs.133,000.
An official reacting to the announcement has said that this would be taken up with the management in the next meeting. Indian airline industry is a heavily competitive one and with cut throat prices, on a very airlines makes profit leaving rest of them in the RED including the state owned Air India which has prompted the Government to divest its stake with TATA Group expressing interest in acquiring the stake.