Pilots' Aug salary dues to be paid by Oct 9: Jet

MUMBAI: Jet Airways, which has partly paid August salaries to its pilots and engineers together with senior management, has confident the pilots of paying the steadiness quantity by means of October nine, an airline supply stated Friday.

The assurance got here following a meeting between the Jet Airways management and its home pilots' union, National Aviator's Guild, on the airline's headquarter here.

The two aspect additionally determined to satisfy once more next week to speak about the salary and other issues, the supply stated.

"Management has committed that 25 per cent balance amount of August salary will be paid on Tuesday," the supply aware of the meeting told PTI.

On September 6, the airline had knowledgeable that its senior management, pilots and engineers will obtain their salaries in two instalments until November.

The August salary used to be to be paid in two instalments - part by means of September 11 and the other part by means of September 26. Though the airline paid the first tranche on time, it will make most effective partial cost of the second instalment at the designated date and deferred the rest of the cost to October nine.

At the meeting, Jet Airways leader executive officer Vinay Dube, leader folks officer Rahul Taneja, executive vice-president for flight operations Nikhil Vaid, vice-president for flight operations Floyd Gracious and senior commander Raj Kalra represented the management, the supply stated.

The Guild used to be represented by means of its president Karan Chopra, common secretary for Delhi Tej Sood, joint common secretary for Delhi Rajnesh Gehani and member from Mumbai base Sam Veghese.

The supply additionally stated that the next meeting is scheduled for October nine, adding, "No other issues were discussed today due paucity of time."

The Naresh Goyal-controlled airline, through which Etihad Airways holds 24 in line with cent stake, has been going thru monetary turbulence for quite some time now, with two back-to-back quarterly losses pushed by means of sky rocketing jet gas value, nosediving rupee and incapability to lift fares amid cut-throat competition, in particular in home marketplace.

The airline could also be struggling to lift the required capital to satisfy its quite a lot of cost obligations, including salaries to over 16,000 workers.

The airline Thursday won about Rs 258 crore investment from investment spouse Etihad by means of sale of advance tickets to its loyalty programme Jet Privilege.

"Etihad Airways confirms it proposed a financial restructuring and support plan for Jet Airways that was approved by its majority shareholder. This plan includes a USD 35 million cash pre-purchase payment to Jet Airways by Jet Privilege, which is majority owned by Etihad Airways," the gulf provider stated in a commentary to PTI Friday.

JPPL is 50.1 in line with cent owned by means of Etihad Airways, whilst the remaining 49.nine in line with cent is with Jet Airways.
Pilots' Aug salary dues to be paid by Oct 9: Jet Pilots' Aug salary dues to be paid by Oct 9: Jet Reviewed by kailash soni on October 05, 2018 Rating: 5
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