ADVERTISEMENT
Jet Warns Airline May Be Grounded In 60 Days Unless There Are Pay Cuts
Jet Airways shares plunged as much as 9% during Friday's trading session Airline looking at sales/distribution, payroll, maintenance for savings Pilots have refused a proposed 15% pay cut for 2 years
03 Aug 2018, 03:05 PM IST 
Shares of Jet Airways were down 4.2 percent at 0600 GMT while the broader market was 0.7 pct higher.
New Delhi: India's biggest full-service carrier Jet Airways Ltd has told its pilots the airline may be grounded in 60 days unless cost-cutting measures including pay cuts are put in place, a senior company executive told Reuters on Friday.
Pilots who have refused a proposed 15 percent pay cut for two years had been informed that the airline was running out of time to slash costs and raise revenue, the source said.
The company was...
