File photo of a Jet Airways aeroplane. Photograph:( Zee News Network )
Jet Airways has informed its members of staff to take up to 25 per cent pay cut on the back of increasing fuel price and falling rupees.
As per the pay cut announced by the airline, employees earning up to 12 lakh will take a pay cut of 5 per cent to 25 per cent those who earn more than 1 crore and above.
According to reports, top management of the Airline held meetings with the employees regarding the pay cut and the meetings are expected to continue on the issue in the coming days.
According to the airline, senior management has already taken a pay cut.
Sources said that salary cut for pilots in the airline will be in the range of about 17 per cent. Jet Airways has an annual salary bill of about Rs 3,000 crore, and the move is expected to reduce it by about Rs 500 crore.
Jet Airways had reduced the salaries and other benefits of about 350 junior pilots by about 30 per cent last year.