Business

Jet Airways To Phase Out It's Expatriate Pilots To Save Costs

न्यूज़ वर्ल्ड इंडिया | 0
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| August 4 , 2017 , 16:43 IST

The Airline giant, Jet Airways is looking to phase out all of its expatriate pilots in order to lower its costs, told a company executive in a meeting with its employees.

President of the National Aviator’s Guild (NAG), D. Balaraman, in the meeting said, "The management said they are planning to do away with all the expat pilots to save costs.” He told the media that the expat pilots are comparable paid more than their Indian counterparts.

Currently, the airline has over 60 expat commanders, operating mainly Boeing 737 and ATR planes. The Indian pilots had earlier alleged discrimination on the management for privileged treatment of expat pilots.

The NAG on 15 April had wrote a letter to all its members informing them not to fly with the foreign pilots, alleging they have been making inappropriate and racist comments on their Indian counterparts while the carrier is also giving its local pilots a 'step-motherly' treatment.

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Phasing out the pilots is a necessity, said 'Deloitte India'(consulting firm) partner Peeyush Naidu. However, he added, it will have to be done over a period of time as they need to be replaced with trained and experienced ones, which is a function of time.

Jet Airways is currently facing severe cost pressures as competition peaks and a slowdown rises in key Gulf region.

Jet Airways, in the fourth quarter that ended March 31, has reported a 91% decline in their net profit. With costlier fuel, lower airfares and weak Gulf demand, the company revenue stumbled from its revenue.

The airline is exploring all the ways it can make profits off of its current acquisitions. The airline is also looking to sub-lease its smaller aircraft to local airlines.

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On Tuesday, Jet Airways also informed its stock exchanges that the company is adopting a new accounting system starting this fiscal that will delay the financial results for the coming June quarter.