The Hindu : Business : Airlines slashes 300 jobs

Online edition of India's National Newspaper
Tuesday, Sep 23, 2008
ePaper | Mobile/PDA Version

Business

Business

Airlines slashes 300 jobs

Special Correspondent

NEW DELHI:At a time when the civil aviation sector is facing rough weather, private carrier Kingfisher Airlines, promoted by UB Group Chairman and liquor baron Vijay Mallya, is downsizing its staff by cutting about 300 jobs and also returning some surplus leased aircraft in its fleet.

“As part of a concerted company-wide effort aimed at minimising the impact of the ongoing turbulence faced by the aviation industry, Kingfisher Airlines has, over the last six months, embarked on a series of restructuring measures designed to achieve cost savings and rationalisation and operational efficiencies,” a spokesperson of the company said here.

“As a result, a set of 300 employees have chosen to move on and have parted ways with the company or put in their resignations,” the spokesperson said. He said the airline was also returning surplus aircraft to lessors, which had become redundant consequent upon route rationalisation.

“Many employees were counselled on their career path progression and best utilisation of their individual skill sets,” he explained.

As a token of goodwill, the carrier is offering all these employees a severance package equal to two months gross salary for every completed year of service [subject to a minimum of three months pay-out], the spokesperson said.

Printer friendly page
Send this article to Friends by E-Mail

Business