Monday, July 24, 2017

With Jet Airways' new cost cutting policies, is it time for pilots to move on to greener pastures?

After Jet Airways asked its junior pilots, who joined the brand in 2016, to take a 30 percent pay cut or leave, the full-service airline has now reportedly asked its pilots to furnish surety bonds of up to Rs 1 crore. This is said to be the airline's way of making sure that the pilots stay with the company for at least five to seven years.

The National Aviators Guild (NAG), which is Jet Airways' union, has said that the information has been passed on to the junior pilots. "They (junior pilots) have to give a seven year bond of Rs 1 crore, non-depreciating," the Times of India quoted a source as saying.

However, Jet Airways' spokesperson told the Press Trust of India that the carrier has not asked for any kind of bond. "No new bonds (have been) asked for. It is just a pattern that has been introduced," the Jet Airways spokesperson said.
The NAG now plans to meet the airline's management to discuss the bond as well as the pay cut notice that was sent to the junior employees last week. In a bid to trim costs, Jet Airways had made a few changes to the pilots' contracts and it will now be mandatory for them to take 10 days of leave in a month apart from their weekly offs, which in turn will result in a 30 percent reduction in their salaries. The pilots have been given until the end of the month to take a decision.
24/07/17 Vanilla Sharma/IBTimes