Regional airline Trujet Tuesday said it has decided to slash the salaries of its employees by minimum 50 per cent due to a “serious financial crunch” precipitated by the coronavirus pandemic.
The Hyderabad-based company, which has a total of seven ATR aircraft in its fleet, said in a letter to employees that those who have gross salaries between Rs 15,001 and Rs 10 lakh will see a reduction of 50 per cent.
Those employees who earn more than Rs 10 lakh will see a salary reduction of 60 per cent, the letter said, adding that this decrease will come into effect from June 26.
“As you are aware, COVID-19 has very severely hit the aviation industry and Trujet is no exception,” the letter noted.
The airline said it is “facing serious financial crunch/cash flow situation”.
“Though Trujet management was liberal in paying full salaries in the month of March and April, slight reduction in May and June, going forward, we need to take tough decisions, though unpleasant, in the interest of the survival of the company,” the letter noted.
“There is no clarity as to when the COVID pandemic will come into control and as per health and industry experts, it may take at least 12-18 months to recover fully,” it added.
21/07/20 PTI/Financial Express
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The Hyderabad-based company, which has a total of seven ATR aircraft in its fleet, said in a letter to employees that those who have gross salaries between Rs 15,001 and Rs 10 lakh will see a reduction of 50 per cent.
Those employees who earn more than Rs 10 lakh will see a salary reduction of 60 per cent, the letter said, adding that this decrease will come into effect from June 26.
“As you are aware, COVID-19 has very severely hit the aviation industry and Trujet is no exception,” the letter noted.
The airline said it is “facing serious financial crunch/cash flow situation”.
“Though Trujet management was liberal in paying full salaries in the month of March and April, slight reduction in May and June, going forward, we need to take tough decisions, though unpleasant, in the interest of the survival of the company,” the letter noted.
“There is no clarity as to when the COVID pandemic will come into control and as per health and industry experts, it may take at least 12-18 months to recover fully,” it added.
21/07/20 PTI/Financial Express
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