Indian carriers cut jobs, capacity to stay afloat
Indian carriers, buffeted by softening demand, mounting losses and high jet fuel prices, are resorting to job cuts and reducing capacity to stay afloat.
Carriers have halted expansion plans and an alliance of the country’s top two carriers, Jet Airways and Kingfisher Airlines, is looking to return 14 narrow bodied planes.
Discount carrier SpiceJet cut 19 daily flights of its 117.
Kingfisher said it would reduce the salary of 50 trainee co-pilots, while state-run Air India plans to offer 3-5 years unpaid leave to 15,000 employees in non-core operational areas.
Kingfisher and Jet set up an alliance on Oct. 13 for code sharing, sharing of ticketing, ground services, fuel management, crew training and utilisation.
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