Mumbai: Cash-strapped Jet Airways (India) Ltd, which has deferred salary payment to its senior staff, including pilots, on Thursday presented a salary payment schedule to its pilots at a meeting attended by senior members of its pilots union and the management represented by chief executive officer Vinay Dube and chief people officer Rahul Taneja.
The meeting was held in Mumbai to assuage pilots’ concerns about various issues including salary delays. “Vinay Dube and Rahul Taneja, who represented the management at the meeting, told the Jet Airways pilots that the company will send the payment schedule via mail on 7 December," said a person with direct knowledge of the matter.
The airline has assured the pilots that it will pay 25% of the October salary on 6 December and 50% later in the month. The remaining 25% will be paid in January.
“The management has assured us that 25% of October salary and 75% of November salary will be paid during January 2019, while 25% of November salary, along with 100% December salary, and 25% of January salary will be paid in February 2019," the person said.
“Meanwhile, the management has also said that it will disburse 75% of January and 100% of February salary in March 2019. The full March salary will be paid in April, when salary will become current," the person said.
Jet Airways, which had a 13.3% share of the domestic aviation market in October, needs to urgently raise cash to stay afloat, as costly fuel and a weak rupee have hurt its financial health.
A Jet Airways spokesperson said that the airline is committed to meeting all its salary obligations, and has already paid salary to 85% of its workforce on time for the November payroll.
“This week, the company has remitted the final tranche of the pending September salary and 25% of October salary for the remaining 15% of its employees," the spokesperson added.