Jet Airways to slash pay for junior pilots
India’s second largest carrier by market share Jet Airways is looking to slash costs and junior pilots will reportedly take the brunt.
Reuters reports management is seeking wages cuts of 30-50% for junior ranking pilots, which could impact as many as 400 pilots.
Pilots were sent letters outlining measures earlier this month with management saying it is forced to take drastic action as it is ‘intensely focused on fleet and network rationalisation.’
The measures could start early next month.
"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," a Jet spokesman told Reuters.
Pilots were offered a stark choice – accept the pay cut or seek alternative employment.
"We have had to revisit our manpower requirements," the airline memo addressed to pilots said.
"Your support and understanding in the matter will play a major contribution in preserving the health of the company, and our position in the industry."
According to local media, Jet Airways is seeking to sub-lease its fleet of 18 ATR aircraft to generate more funds.
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