Jet Airways wants pilots, engineers to take 25% salary cut
02 August 2018
Jet Airways is facing a major crisis with pilots and engineers refusing to accept the 25-per cent pay cut suggested by the management to tide over the current financial woes.
The airline, which has been in operation for the past 25 years, has over 16,500 permanent employees. But with growing competition in India and rising turbine fuel costs, the airline has been battling a looming financial crisis.
Naresh Goyal- promoted Jet Airways sold a 24-per cent stake to Etihad Airways of Abu Dhabi in 2013. There has been speculation in the past about Etihad wanting to sell its stake, but both Jet and the Abu Dhabi-based carrier have denied the reports.
The National Aviator’s Guild, which represents about 80 per cent of the 2,000 pilots of the airline, has instructed its members not to accept the 25-per cent cut in salaries.
Guild sources claim that the airline management is not in favour of negotiating with it and that it might forcibly impose a pay cut. However, pilots have been told to quit en masse if the cuts are imposed, as there is huge demand for their services in the aviation sector.
Goyal along with other senior airline staff is reportedly in talks with the pilots and engineers for the pay cut. Airline spokespersons, however, have refused to comment on the dispute.