Jet Airways Salary Cuts

The insolvency resolution process of Jet Airways started in June 2019 after its then-promoters failed to provide liquidity.

Tata Group has sought management control of Jet Airways, seeking at least 26% initially and another 26% via an open offer later, the report stated.

On September 6, Jet Airways told senior employees that salaries would be paid in two instalments till November.

Jet Airways on Thursday said it is in talks with employees and key stakeholders to implement cost reduction measures such as cuts in salaries of staff.

The union will also raise the issue of disciplinary action against a number of non-management pilots, said a source.

In letters sent to pilots earlier this month, Jet Airways proposed they either take 30-50 per cent salary and stipend cuts, or quit.

This is another blow for Jet airways employees and another fall-out of the economic slowdown.

The insolvency resolution process of Jet Airways started in June 2019 after its then-promoters failed to provide liquidity.

Tata Group has sought management control of Jet Airways, seeking at least 26% initially and another 26% via an open offer later, the report stated.

On September 6, Jet Airways told senior employees that salaries would be paid in two instalments till November.

Jet Airways on Thursday said it is in talks with employees and key stakeholders to implement cost reduction measures such as cuts in salaries of staff.

The union will also raise the issue of disciplinary action against a number of non-management pilots, said a source.

In letters sent to pilots earlier this month, Jet Airways proposed they either take 30-50 per cent salary and stipend cuts, or quit.

This is another blow for Jet airways employees and another fall-out of the economic slowdown.