Employees at Jet Airways may have to face up to 50 per cent pay cut starting 1 December 2022. However, the good news is that nobody will be rendered jobless.
After having faced a long delay in resuming operations, the pay cuts are reportedly part of the Airline’s attempts at salary restructuring to manage cash flows.
Its operations were supposed to have resumed in September 2022, but had got postponed by a month. However, it did not take off in October, and is yet to do so, even at the fag end of November 2022.
The Airline which has a 250-strong workforce right now, had discontinued flights in 2019 when it was in a financial crisis. In 2021, the Jalan-Kalrock Consortium (JKC) had come forward with a plan to revive Jet Airways.
However, they are still to receive possession of the Airline as per the National Company Law Tribunal (NCLT).
The website of Jet Airways, as well as its app, customer service, operations function, disruption-handling unit and other functions have been revamped to enhance customer experience. In fact, the Consortium had completed all the conditions laid down in the resolution plan in May itself, post receiving the NCLT’s nod.
Following rumours about 60 per cent of the Jet team being sent on leave without pay, Sanjeev Kapoor, CEO, Jet Airways had tweeted to clarify that while two-thirds of the workforce remains unaffected, only a short-term / temporary pay cut has been imposed on the remaining one-third. He also clarified that only about 10 per cent of the workforce will be on leave without pay.
