New Delhi: India's biggest full-service airline Jet Airways Ltd said on Friday it was confident that it would be able to cut costs and keep flying, despite reports that it had warned staff it was running out of cash.
Reuters and several local newspapers reported earlier on Friday that Jet Airways had told pilots it had enough cash left to keep operating for just 60 days and would need to put in place cost-cutting measures including pay cuts.
The airline has asked pilots to take a 15% pay cut for two years, a proposal they have refused, a senior company executive told Reuters.
Jet Airways CEO Vinay Dube called the reports "factually incorrect" and "malicious", although the company did not specify precisely what aspects of the reports it disputes.
Dube confirmed that the company was in talks with employees and suppliers to cut costs. It was looking at sales and distribution, payroll, maintenance and fleet simplification for savings to create "a healthier and more resilient business".
03/08/18 Reuters/Gulf Times
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Reuters and several local newspapers reported earlier on Friday that Jet Airways had told pilots it had enough cash left to keep operating for just 60 days and would need to put in place cost-cutting measures including pay cuts.
The airline has asked pilots to take a 15% pay cut for two years, a proposal they have refused, a senior company executive told Reuters.
Jet Airways CEO Vinay Dube called the reports "factually incorrect" and "malicious", although the company did not specify precisely what aspects of the reports it disputes.
Dube confirmed that the company was in talks with employees and suppliers to cut costs. It was looking at sales and distribution, payroll, maintenance and fleet simplification for savings to create "a healthier and more resilient business".
03/08/18 Reuters/Gulf Times
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