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Updated: March 8, 2012 18:22 IST

Goyal meets Jet pilots over salary dues

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Naresh Goyal, Chairman, Jet Airways - a file photo.
The Hindu Photo Library
Naresh Goyal, Chairman, Jet Airways - a file photo.

The financial trouble plaguing the aviation sector seems to have impacted the country’s largest private airline Jet Airways as well, with the pilots meeting the top management on Thursday over delayed salaries.

Chairman Naresh Goyal met senior pilots at his residence at Peddar Road here this afternoon and reportedly assured them of timely payments, sources said.

For the past few months, salaries have been officially delayed with the pilots in the lower bracket are getting paid on 7th of every month and their counterparts in the upper bracket on 15th of every month.

The meeting assumes significance as the pilots have apparently been planning to go on a “silent protest” wearing black badges. However, it could not be ascertained whether the pilots have agreed to delay their protest.

When contacted, a Jet Airways spokesperson declined to comment on the developments.

Jet is the largest operator with over 28 percent of the domestic market share and was till now insulated from the financial troubles ailing its peers.

It had posted a Rs 101.22 crore loss for the December quarter on higher fuel costs, weak rupee and stiff competition from low-cost carriers. Its total debt as on December 31 stood at Rs 14,079 crore.

The development in Jet comes at the time when its competitor Kingfisher Airlines is tottering financially and has not been paying salaries since December due to fund crunch, leading to question marks over its survival.

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There should be no further delay in implementing reforms for the aviation sector starting with allowing upto 49% FDI for foreign airlines, which would most likely eliminate debt of many of the airlines.

from:  Sailesh Akkaraju
Posted on: Mar 9, 2012 at 04:41 IST

As usual, the government is the major factor for why the private carriers are struggling. End subsidies to Air India and do not force carriers to fly in loss making routes.

from:  M Cose
Posted on: Mar 9, 2012 at 04:11 IST

Well, you can run but you can't hide. Reality check for those in favor of building infrastructure that caters to the top 5% of the Indian population.

from:  Rizwan
Posted on: Mar 8, 2012 at 21:47 IST

Well yes, if one can see in the picture he's trying to bite off more
than what he could chew on.

from:  GK
Posted on: Mar 8, 2012 at 20:05 IST
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