Jet Airways to restore salaries cut during downturn

Mumbai: Naresh Goyal-promoted Jet Airways will restore salaries of employees which were slashed during the downturn in 2008, signalling stable business enviornment for airlines.
India's largest airline by market share cut salaries by as much as 25% after asking its top executives and pilots to take a haircut but vowed to reinstate the lost pay once good times return.
Jet Airways' management, including its new vice-president (human resources) Samar Srivastava, are likely to meet the pilots and other executives on Wednesday at the airline's headquarters in Mumbai to discuss the proposal to restore salaries , according to two officials close to the airline.
"The salary cuts were as much as 40% for some of the pilots unlike the 25% that the management says. Some restoration of salaries had happened earlier this year but the management will reinstate the remaining 6% by January this year," said one of the officials, not wanting to be named.
Salaries were supposed to be restored in three phases starting with 8% followed by 6% and another 6% towards the end.
12/01/11 Manisha Singhal/Economic Times

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Categories: Jet Airways Jan 2011