Sunday, June 09, 2013

Jet Airways hikes pilots’ salaries

June 10, 2013, 12.37AM IST

MUMBAI: Private carrier Jet Airways has hiked the salaries of its pilots, acceding to their long pending demand, even as its 24% stake sale deal with Etihad Airways awaits regulatory approvals. "The airline has hiked its pilots' wages by up to 18% in a staggered manner with retrospective effect from 2010-11," sources close to the development said. The maximum hike stands at 6% per year based on the pay scales of the pilots. Jet Airways has about 13,000 employees on its roll, of which about 1,100 are pilots.

Earlier in January, the carrier had announced a wage hike of up to Rs 18,000 for its around 7,500 ground staff. Jet had signed a wage revision with employees for the three financial years of FY11-13 in 2010. However, it failed to honor the agreement, citing recession.

The airline, which reported higher quarterly losses at Rs 496 crore in the January-March quarter, has signed a 24% stake sale deal with Gulf carrier Etihad for Rs 2,058 crore. Jet's proposal for the stake sale is expected to come up for approval before Foreign Investment Promotion Board on Tuesday. 

Source:  http://timesofindia.indiatimes.com

No comments:

Post a Comment