First News
Volume:8, Number:05
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Business & Finance 3

Jet Airways Trimming Costs, Asks Pilots to Take 30-50 Percent Pay Cut

Jet Airways, India’s second-largest airline by market share, has asked dozens of its junior-ranking pilots to accept 30-50 percent pay cuts, or quit, as it moves to bring down its costs, according to two sources and letters seen by Reuters. Jet Airways has proposed salary and stipend cuts in letters sent to pilots earlier this month, saying it was forced to take such steps as it was “intensely focused on fleet and network rationalization”. The move, to be implemented from August 1, is likely to impact up to 400 pilots, said the two sources, who asked not to be named. A third source close to the development said Jet had to make some work adjustments with pilots, as it has rationalized its network given weakness in the Gulf region and improved fleet utilization. Jet Airways, which has the highest cost structure among all the major private-sector carriers in India, did not immediately respond to a request for comment.

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