NEW DELHI: Jet Airways has asked several of its pilots to take 10 days off a month from August 1, a move that will effectively mean at least 30 per cent salary cut for them. And Jet has virtually told these pilots to leave the airline if they do not accept this option. Their choice has to be informed to the airline by end of this month. The number affected by this cost-cutting move is reported to be over 320 junior co-pilots.
Jet Airways' letter to these pilots says: "As a valuable asset to the company, we would like to ensure your continued employment while simultaneously balancing our cost structure. As an interim measure, we shall be offering you a Lifestyle Work Pattern which entails 10 days block off per month with the appropriate remuneration. This will be effective August 1."
"In case you do not wish to accept the above terms and desire to seek alternate opportunities, within the industry or outside, you may revert by July 31, 2017. In such a case, we shall assist you by facilitating the necessary formalities as may be required," the letter says.
A Jet Airways spokesman said: "Jet Airways continues to remain committed to all its employees which includes crew members and trainees, who are essentially a part of the Jet family. However, 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."
Jet's cost-cutting move comes at a time when most domestic airlines are doing well due to low crude oil prices and booming aviation in India. Jet is reportedly in talks with a number of international companies, including airlines, for funding. Abu Dhabi's Etihad has a 24 per cent stake in Jet.
Courtesy: Times of India