Monday, October 22, 2018

Jet Airways trims staff, operations to chart away out of financial crisis

Mumbai: Jet Airways is said to be pruning its workforce and operations further as India’s second biggest airline battles its worst financial crisis.
At least 15 people at manager or general manager level in departments such as engineering, security and sales have been asked to leave in October, said a person aware of the matter. “A few, but not all of them were aged. There was a lull in September but now the pink slips have begun again,” he said. He reckoned more exits are likely.
The airline has grounded eight of its planes at the Chennai and Mumbai airports. They include an Airbus A330, a Boeing 777, two Boeing 737s and three ATR turboprops at Chennai airport besides one Airbus A330 in Mumbai.
The person cited above said engines have been dismounted from some of these planes, signifying that they may remain grounded for six months or more. There has been speculation about Jet struggling with meeting lease payment obligations.
22/10/18 Anirban Chowdhury/Economimic Times