Zee Media Bureau
Massive unrest in Jet Airways has erupted as over 200 pilots are protesting against the management plan of shifting them to JetLite, a sister company struggling hard to survive in the industry.
Pilots and crew of 18 ATR flights have already expressed their agitation as the decision is likely to affect their career as well as their job security.
Pilots say, "if they are shifted to JetLite, they will lose not only seniority but also pay and perks."
Jet Airways is considering shifting its entire ATR fleet, along with a few Boeing 737s, to JetLite to strengthen the subsidiary’s operations and enable it to compete with rivals.
Jet Airways, which suffered a loss of Rs 4,130 crore in 2013-14 said it aims to turn profitable in the next three years and was planning a major overhaul of its fleet and products, months after Gulf carrier Etihad Airways picked up 24 percent stake in it.
On whether restructuring of Jet fleet was also on the anvil and would its ATR turboprop fleet be transferred to its low-cost subsidiary JetLite, Jet Chairman Naresh Goyal said, "We are looking at it. We may sell our surplus aircraft or return them to lessors. We finding out what is the most economical way to go forward. We will be announcing all this soon."
The Jet-Etihad deal went through turbulent times since it was announced in April 2013. After months of scrutiny, the deal got approved late last year after clearances by various Indian regulators, including fair trade watchdog Competition Commission of India and capital markets regulator SEBI.
First Published: Wednesday, July 30, 2014, 15:32