Jet Airways withdraws 25% salary cut proposal
Jet Airways has rolled back its proposal to slash salaries by up to 25 per cent in the wake of stiff opposition from pilots and engineers, a source said.
Generally, the wage agreement is signed for three years. While the previous pacts expired on March 31 this year, the management is yet to start negotiations for the new agreements, which would be for the period from April 2018 to March 2021, the source added.
As part of cost-cutting measures, the Naresh Goyal-promoted full-service carrier had asked its employees, including pilots and engineers, to take steep pay cuts besides a downward revision of 25 percent in the salaries of the senior management.
Senior management executives are those holding general manager post and above level positions.
Amid rising concerns over its financial health and pilots on warpath over proposed pay cuts, the airline, on August 3, expressed confidence of overcoming the current issues as it said the mismatch between high fuel prices and low fares is the biggest short-term challenge.
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