Jet Airway

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Explains: Exactly what happens at Jet Airways?

The call for staff to cut wages has caused shocks in the industry. The majority of carriers are struggling with profit side issues, but Jet's wage cut has clearly illustrated the issue. According to the ET reports, Jet has notified its staff that the company could not exceed 60 working day if no cost-cutting action, including wage reductions, were taken.

The company has notified its staff that they need to reduce their pay roll by up to 25% as operating costs for airline companies increase due to higher oil prices and lower rupees. Reductions in pay are in the 5% area ( for those who earn 12 rubles per year) to 25% ( for those who earn 1 ruble and more) from this on.

Mr Jet said top managers had already made wage cutbacks. Similarly, last year the company cut the wages and other services of around 350 young aircraft by around 30% compared to August. Airlines say wage reductions are part of their cost-cutting strategy. "As part of its efforts to rationalise costs, the carrier is continuing to assess all possible steps to improve the efficiency of its operations.

The payroll is one of the most important elements of the expense curve and the management has made a pay roll down to set a good example," the carrier ET said. Speaking in a declaration, the carrier said that it was concentrating on the creation of a more healthy and robust company and that it had implemented several actions to reduce overheads and increase profit margin.

It has also stated its commitment to sustained expansion and plans to expand with 225 B737 MAXs. It has disproved "speculative commentaries by certain interest groups" and described them as "conscious moves to subvert Jet Airways' transformational work. Industrial analysts say that it is likely to announce a fall of 1,000 rubles in the first three months of the year.

Airline earnings are impacted by high costs but lower returns in India, the world's biggest emerging aviation industry for increased numbers of passengers. According to Analyst reports, the decline in returns is due to the fact that airline companies are unable to collect a bonus on last-minute bookings.