Mumbai: Low fare carrier GoAir has deferred a part of March accrued salaries for its staff in addition to pay cuts implemented earlier, its CEO said in a letter to employees on Wednesday.
“Yesterday, salaries were posted to each of your bank accounts. All employees in Grade’s D and below received salaries in their entirety. The rest of you will see less than what you are normally used to seeing as a result of the reduction in pay I had announced earlier, but also because we have been forced to defer a portion of your accrued salaries to April,” Vinay Dube said in his letter. He added that a detailed explanation will be given to them on April 3 (Friday).
GoAir cut salaries by 50% by for its top leadership last month and then extended pay cuts to other employees barring ones in the junior level of D grade.
India’s aviation industry, like its global peers, has been the worst hit by the Coronavirus crisis, which led the government to close the country’s borders and then lock it down entirely, prohibiting all travel. The unprecedented situation of a prolonged state of no revenue will lead to the country’s airlines to lose $1.75 billion in the April-June quarter, said Sydney-based consultant CAPA Centre for Aviation. Many airlines in the world, some in India, may not recover from the crisis.
01/04/20 Anirban Chowdhury/Economic Times
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“Yesterday, salaries were posted to each of your bank accounts. All employees in Grade’s D and below received salaries in their entirety. The rest of you will see less than what you are normally used to seeing as a result of the reduction in pay I had announced earlier, but also because we have been forced to defer a portion of your accrued salaries to April,” Vinay Dube said in his letter. He added that a detailed explanation will be given to them on April 3 (Friday).
GoAir cut salaries by 50% by for its top leadership last month and then extended pay cuts to other employees barring ones in the junior level of D grade.
India’s aviation industry, like its global peers, has been the worst hit by the Coronavirus crisis, which led the government to close the country’s borders and then lock it down entirely, prohibiting all travel. The unprecedented situation of a prolonged state of no revenue will lead to the country’s airlines to lose $1.75 billion in the April-June quarter, said Sydney-based consultant CAPA Centre for Aviation. Many airlines in the world, some in India, may not recover from the crisis.
01/04/20 Anirban Chowdhury/Economic Times
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