Vijay Mallya-promoted Kingfisher Airlines today said it had slashed salaries of its trainee pilots "significantly".
"The remunerations of these (trainee) pilots have been slashed significantly as a part of our cost-cutting initiatives," a senior Kingfisher Airlines executive told PTI without giving the extent of the cut.
Line pilots and commanders of flights had, however, been exempted from this move, he said. "The airline had to resort to this move as some of its aircraft have been grounded," the executive added.
A spokesperson for the company was more specific: "Kingfisher Airlines has effected a downward revision in the emoluments of a small pool of 50 trainee co-pilots. These trainee co-pilots will continue to remain on the payroll of the company and will all continue to enjoy full benefits that are available to the employees of the company (medical benefits, travel privileges and the like)."
On October 14, Jet Airways and Kingfisher Airlines agreed to form an alliance of wide-ranging proportions that will help both carriers to significantly rationalise and reduce costs and provide a wider choice of travel options to consumers with immediate effect.
The downturn in the world economy, the volatility in crude oil prices and that of aviation turbine fuel, and the slowdown in economic activity have resulted in a decline in air travel both on international and domestic routes.
Jet is working on a plan to reduce in flight duty hours of its unconfirmed cabin crew.
