Jet Airways hands over pink slips to 50 expat pilots

Jet-AirwaysJet Airways has handed over pink slips to 50 of its expat pilots by prematurely terminating their contracts, bringing their number to 88, as part of its cost-cutting measures as well as reducing dependency on the high-cost overseas flight crew.

“We have prematurely terminated the service contracts of 50 expatriate pilots between April 1, 2014 and March 31, 2015,” Jet Airways acting Chief Financial Officer (CFO) Ravichandran Narayan said during a post-earnings analysts call.

Narayan said as part of the contract obligations, the airlines paid retrenchment compensation to the sacked pilots.

The Naresh Goyal-promoted airline has a total of 1,120 pilots, after termination of the service contracts of these 50 expats, Jet Airways now has 88 foreign pilots.

The country’s civil aviation regulator, Directorate General of Civil Aviation ( DGCA), has also given the airlines a deadline of December 2016 to phase out the expatriate pilots.

Read More: http://goo.gl/C3YJki

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