Jet Airways can't fly 'beyond 60 days', unless employees take pay cuts

The management team, including Chairman Naresh Goyal, has informed employees that the airline's financials are in a bad shape and drastic measures needed to be taken to cut costs

Jet Airways (India) Ltd will be unable to fly beyond 60 days unless cost-cutting measures including pay cuts are put in place, and it has approached investment bankers again to help sell a stake in the carrier, local media reports said on Friday.

The management team, including Chairman Naresh Goyal, has informed employees in face-to-face meetings in recent days in Mumbai and Delhi that the airline's financials are in a bad shape and drastic measures needed to be taken to cut costs, the Economic Times daily reported, citing two company executives.

Jet Airways was not immediately available for comment when