Tuesday, June 30, 2020

Vistara CEO to take 20% salary cut for July-December, employees to face upto 15% pay cut

Amid the coronavirus COVID-19 crisis in the aviation sector, Vistara Airlines on Tuesday announced that its CEO Leslie Thng will take a 20 per cent salary cut from July 2020 to December 2020. The move comes after the airline announced that it is operating with less than it is 30 per cent capacity and currently getting back to normalcy in operations and network which may take a couple of months.

According to a Vistara spokesperson, “The ongoing pandemic continues to adversely impact our financial performance, as we are operating on a significantly reduced network since the resumption of domestic flights amid low demand. Vistara is making every effort to save jobs of more than 4,000 of its people while conserving cash and pursuing to reduce operational expenditures, which includes staff costs."

"From 1 July 2020 to 31 December 2020, Vistara CEO will take a 20% monthly pay cut and the company shall implement graded monthly pay cuts for staff at other levels. The rest of Vistara's senior staff including members of the management will take a 15% pay cut every month, while those in mid to junior-mid levels will take 10% pay cut in this period," the spokesperson added.
30/06/20 Sameer Dixit/Zee News
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