Faced by a dire pilot poaching problem, Air India is asking its trainee pilots to sign hefty bonds to yoke them to their cockpit. The 534 applicants for the post of senior trainee pilots of the Airbus 320 fleet will be required to sign a bond of Rs 1 crore (including bank guarantees) so the airline can retain its highly skilled pilots, after investing heavily in their expensive training procedures.
Arecent advertisement from the national carrier had the standard baseline requirements with a new addendum explaining that pilots joining the airline will have to pay Rs 1crore if they quit before the 10-year period ends, to compensate Air India for costs incurred. The advertisement reads, "If the training cost is Rs 12 lakh, the candidate would be required to furnish a bank guarantee for Rs 12 lakh and service agreement and surety bond for service agreement for Rs 88 lakh."
Till now, Air India required new entrants to sign a bond of Rs 10 lakh. "In the past year, 78 pilots completed their training and joined us after signing the Rs 10 lakh bond. But, there have been several instances, where a leading low-cost carrier has ended up poaching them by paying this amount," an airline official said.
10/01/16 Mumbai Mirror
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Arecent advertisement from the national carrier had the standard baseline requirements with a new addendum explaining that pilots joining the airline will have to pay Rs 1crore if they quit before the 10-year period ends, to compensate Air India for costs incurred. The advertisement reads, "If the training cost is Rs 12 lakh, the candidate would be required to furnish a bank guarantee for Rs 12 lakh and service agreement and surety bond for service agreement for Rs 88 lakh."
Till now, Air India required new entrants to sign a bond of Rs 10 lakh. "In the past year, 78 pilots completed their training and joined us after signing the Rs 10 lakh bond. But, there have been several instances, where a leading low-cost carrier has ended up poaching them by paying this amount," an airline official said.
10/01/16 Mumbai Mirror
