Once a celebrated airline, Indian carrier Jet Airways has hit another roadblock ahead of its relaunch, leaving many of its employees with reduced salaries and on leave without pay.
The company’s CEO Sanjiv Kapoor confirmed in a series of tweets that the measures will be effective from December 1. The move came to light hours after its winning-bidder, the Jalan-Kalrock Consortium (JKC) announced it may have to take “some difficult but necessary near-term decisions” to manage cash flows.
The pay cut is said to be up to 50 per cent, news agency PTI reported, and the quantum would be higher for the CEO and CFO.
