In its discussion with employees, the Jet Airways senior management, led by Chairman Naresh Goyal, has been at pains to explain the dire financial condition of the airline.
The management cited an unexpected increase in the cost of fuel, erosion in market share and operational issues for the company's current condition, and has asked pilots and engineers to take a salary cut of 15 percent.
Apart from Goyal, CEO Vinay Dube and Chief People Officer Rahul Taneja are also believed to have attended these meetings held in Mumbai and Delhi.
Jet Airways has been losing market share to its peers. According to figures provided by the Directorate General of Civil Aviaiton, Jet Airways' market share in the domestic market had reduced to 15.4 percent by the end of 2017, from 15.6 percent at the start of the year.
03/08/18 Prince Mathews Thomas/moneycontrol.com
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The management cited an unexpected increase in the cost of fuel, erosion in market share and operational issues for the company's current condition, and has asked pilots and engineers to take a salary cut of 15 percent.
Apart from Goyal, CEO Vinay Dube and Chief People Officer Rahul Taneja are also believed to have attended these meetings held in Mumbai and Delhi.
Jet Airways has been losing market share to its peers. According to figures provided by the Directorate General of Civil Aviaiton, Jet Airways' market share in the domestic market had reduced to 15.4 percent by the end of 2017, from 15.6 percent at the start of the year.
03/08/18 Prince Mathews Thomas/moneycontrol.com
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