Following a financial crunch, Jet Airways had not been disbursing salaries to its pilots on time. The situation had spread a lot of discontentment amongst the Jet staff, with many pilots failing to report for duty in protest in the past few weeks. Thirty pilots are said to have quit recently. However, after a recent meeting, matters are reported to have been sorted out. The Indian international airline has promised to clear all dues by April 2019. Till then the employees will receive their salaries in parts.
While 75 per cent of the October salary for the pilots, AMEs and senior managers will be disbursed in December, the remaining 25 per cent will be paid in January 2019 along with 75 per cent of the November salary. In February 2019, the staff will receive 25 per cent of the November salary along with the entire salary for December as well as 25 per cent of the salary for January. The remaining 75 per cent of January salary will be paid in March along with the full salary for February. In April, the employees will receive the full salary for March. After that, the salaries will be paid regularly and on time.
This arrangement has resulted from months of discussions and negotiations between the Jet management and the National Aviator’s Guild.
Jet Airways has reportedly turned to its investment partner in Abu Dhabi for financial assistance in the form of a loan of $350 million to help come out of the present cash crunch.