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Jet Airways Employees To Face Salary Cuts, Leave Without Pay: Report
Jet Airways to slash salaries by up to 50% Jet Airways will send nearly one-third of its employees on leave without pay or slash their salaries by up to 50%, reported The Times of India quoting sources. The carrier, which suspended operations in 2019 and remained grounded for three years, was granted licence to resume commercial flights by the Directorate General of Civil Aviation (DGCA) in May this year. The management said that only a small portion of the staff will be given leave without pay and that no employee was being laid off, the report added. “…while we await the handover of the company as per the NCLT process, the longer-than-expected time being taken for the same may result in some difficult but necessary near-term decisions to manage our cashflows to secure the future while the airline is still not in our possession,” the consortium said in a statement. The insolvency resolution process of Jet Airways started in June 2019 after its then-promoters failed to provide liquidity. Source - NDTV #jetairways #salary
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