Showing posts with label Airways. Show all posts
Showing posts with label Airways. Show all posts

Wednesday, July 22, 2009


Continental widens loss, cuts 1,700 jobs

About 1,700 jobs are to be cut at Continental Airlines Inc., which on Tuesday reported an increased second-quarter loss.

Houston-based Continental (NYSE: CAL) reported a net loss of $213 million, or $1.72 cents per share, on revenue of $3.1 billion, for the three months ended June 30. That compared with a net loss of $5 million, or 5 cents per share, on revenue of $4 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the airline to have a net loss of $1.35 per share.

In a Tuesday conference call, company executives confirmed that the company would be reducing its work force by about 1,700 employees — or nearly 4 percent of its 43,000 employees. Cuts will be companywide and will include management and clerical positions.

Monday, May 4, 2009


Jet Airways lays off 110 employees

India's leading private carrier Jet Airways handed over pink slips to 110 employees on the eve of May Day, the company said Friday. "Jet Airways undertakes additional measures to streamline costs to improve the financial health of the company under the challenging economic environment. The airline has issued notices of termination to identified employees on contract, who have superannuated," a company spokesperson said.

"The termination is in accordance with the law and their (employees') service conditions," he added. Of these employees, 50 were on contract basis, while the remaining 60 were probationary cabin-crew.

Monday, April 27, 2009


Jet Airways cuts salaries of 370 employees

India's leading private carrier Jet Airways Friday said it has cut salaries of at least 370 senior employees as the airline was bleeding on account of falling traffic and rising operational costs.

"We have temporarily imposed a reduction in salaries for the management cadre. This will affect about 370 employees," the spokesperson for the airlines told IANS.

The salary cut, of up to 25 percent, is part of a cost-restructuring exercise by the airline, which is undergoing losses in the wake of the economic slowdown worldwide.

Concerned over job loss and salary cuts, as many as 25 Indian pilots including over a dozen from Jet are believed to be heading for the Gulf to join leading Gulf carrier Qatar Airways.

However, the Jet Airways spokesperson said the company had no information of its pilots quitting.

Last October, Jet Airways had announced the retrenchment of about 1,900 employees after a strategic alliance with Kingfisher. It, however, took back the employees following widespread protests.

Friday, November 28, 2008

Jet proposes 5-10% salary cut for employees

Forward by Srilaxmi

Facing the heat of economic slowdown, the Jet Airways management was on Sunday understood to have suggested a five to ten per cent salary
cut for its employees drawing monthly salary above Rs 75,000 and a voluntary retirement scheme for older staff.

A meeting of the management, presided by Jet Chairman Naresh Goyal at a five-star hotel here, has decided to have a graded salary structure for all employees but kept a threshold for it saying those drawing Rs 75,000 per month would not face any cut in their salary, sources said.

The graded structure would be applicable to those getting above Rs 75,000 per month, they said.

The management is also understood to have set up a committee to study the graded structure.

However, the management was unable to convince its domestic pilots to accept salary cuts ranging from 10 to 20 per cent, sources said.

The airlines management is understood to have suggested a ten per cent slash in pay packets of junior pilots and a 20 per cent cut for senior pilots.

But the pilots suggested that Airlines should do away with the expatriate pilots as they were a “huge burden” on the airlines because of their high salary packages,” a source close to the development told PTI.

The Airlines has currently 1,000 pilots with 200 expat pilots.

A proposal was also mooted to provide Voluntary Retirement Service (VRS) to some of the older employees to cut cost, the source said.

“However, Goyal did not accept the proposal, saying the Airlines did not have money to offer such a package,” the source said.