You are here: Home » Companies » News
Business Standard

Pilots of beleaguered Jet Airways seek details of turnaround strategy

Grappling with financial woes, the airline had last week deferred the announcement of its financial results for the June quarter

Press Trust of India  |  Mumbai 

Why Jet is flying low, facing questions from Sebi over results deferment

The pilots' union of beleaguered private carrier has sought details of the firm's turnaround strategy, including the various cost-cutting measures and the fund utilisation, amid the airline flying into financial turbulence. 

The move comes in the backdrop of Chief Executive Vinay Dube informing the shareholders at the company's 26th AGM here last week that the airline was looking at all elements of cost restructuring, including the employees' payrolls, indicating that the proposal was put on hold.

Jet Airways, however, in a statement on Tuesday said that it has a transparent and open culture and employees as well as the management regularly engage to discuss matters of mutual concerns through different platforms. 

The airline, which is grappling with financial woes, had last week deferred announcement of its financial results for June quarter and is yet to announce a date for the same. 
 

Early this month, it was forced to put on hold a proposal seeking to cut salaries of the employees, including pilots and engineers, by up to 25 per cent, after affecting a 25 per cent cut in the salaries of its senior management. 

"We have told the management to share with us its much-talked-about turnaround plan. We ourself want to assess the financial situation of the airline and help the company in making it viable and sustainable in the long-term," a senior pilot associated with the National Aviator's Guild (NAG) said. 

The NAG claims to represent over 1,100 members of the 1,800 pilots with the carrier.
 

"The management talks about pay cuts as one of the various cost-cutting measures to improve the fortunes. But it does not tell us (the employees) how much it would save from such measures and how it plans to utilise the money from cost savings. We want to know all these things," the pilot said.

The management has not even made it clear whether the now on-hold salary cuts were going to be in place till the time company's fiscal health is back in the shape or it is was to be permanent, the pilot added.

Besides, the management team conducts quarterly town hall sessions where airline's cost, revenue and customer service initiatives are discussed freely, the airline added.

 

"All of the airline's employees, including its pilots and engineers, have already publicly stated their resolve of standing loyal, committed and unified with the company," the spokesperson said.

On August 4, NAG in a communication to its members had said, "We are endeavouring to assist our company in facing these challenges by meeting with the management and being a part of the solution in achieving cost efficiencies and enhancing our service standards."
 


has been pro-actively working on multiple revenue enhancement and cost-cutting measures, which have already started to deliver results, the airline had said in a statement on Monday.  

First Published: Tue, August 14 2018. 22:47 IST
RECOMMENDED FOR YOU