weather_iconDublin | 11.12 °C | AQI 53
Wednesday, 18 December, 2024

---Advertisement---

Business

SpiceJet sends 80 pilots on unpaid leave for 3 months to trim costs

New Delhi: SpiceJet has placed about 80 pilots on unpaid leave for three months in order to save costs. The past four years have seen losses for the airline. Additionally, it is now flying less than 50% of flights as a result of the Directorate General of Civil Aviation’s (DGCA) directive on July 27 in […]

New Delhi: SpiceJet has placed about 80 pilots on unpaid leave for three months in order to save costs.

The past four years have seen losses for the airline. Additionally, it is now flying less than 50% of flights as a result of the Directorate General of Civil Aviation’s (DGCA) directive on July 27 in response to a string of mishaps.

---Advertisement---

Although the airline has over 90 planes in its inventory, it only uses about 50 of them daily to perform flights.

Also Read :- Know everything about PM-PRANAM scheme of Modi government: Big change for farmers!

---Advertisement---

According to sources, the airline has placed roughly 40 B737 and 40 Q400 pilots on three-month leaves of absence without pay.

Following the grounding of the B737 MAX planes, SpiceJet claimed in a statement that it had taken delivery of more than 30 aircraft in 2019.

The airline said it has made the interim decision to put some pilots on leave without pay for a three-month period in order to rationalise costs.

“This measure, which is in line with SpiceJet’s policy of not retrenching any employee which the airline steadfastly followed even during the peak of the Covid pandemic, will help rationalise the pilot strength vis-à-vis the aircraft fleet,” it said.

The financially troubled airline announced that it will soon begin introducing additional MAX aircraft, and these pilots will return to duty at that time.

In FY19, FY20, FY21, and FY22, consecutively, SpiceJet had net losses of Rs 316 crore, Rs 934 crore, Rs 998 crore, and Rs 1,725 crore.

Also Read :- FM exhorts Fintechs to collaborate with govt, focus on green finance

Ajay Singh, the chairman and managing director of the carrier, had previously stated that the airline would soon begin working with investment bankers to raise up to $200 million.

SpiceJet said: “During the LWP period, pilots will remain eligible for all other employee benefits as applicable i.e. all opted insurance benefits and employee leave travel.”

Even after placing certain pilots on leave without pay, SpiceJet will have sufficient numbers of pilots to operate its full schedule as and when the DGCA restriction on flights is lifted, it added.

Read More :- Latest Business News

Click Here – Download The News 24 App

HISTORY

Written By

Vikas Kumar

Updated By

Manish Shukla


Get Breaking News First and Latest Updates from India and around the world on News24. Follow News24 on Facebook, Twitter.

Related Story

Live News

---Advertisement---


live

Latest LIVE News Trending Today, Real Time Updates: Tamil Nadu CM MK Stalin Felicitates World Chess Champion D Gukesh In Chennai

Dec 17, 2024
Latest LIVE News Trending Today, Real Time Updates
  • 18:47 (IST) 17 Dec 2024

    Tamil Nadu CM MK Stalin Felicitates World Chess Champion D Gukesh In Chennai

  • 16:37 (IST) 17 Dec 2024

    'Today Our Party Chief Uddhav Thackeray Met CM Devendra Fadnavis' Says Shiv Sena-UBT Leader Aaditya Thackrey

  • 15:41 (IST) 17 Dec 2024

    'It Is A Good Solution To Stop Waste Of Money And Time' Says Madhya Pradesh Minister Prahlad Singh Patel

N24 Shorts Logo

SHORTS

Sports

IPL 2025: Tension Looms Over RCB As Their Most EXPENSIVE Player Is Under Injury Cloud!

Injury to Josh Hazlewood as raised a lot of eyebrows, especially of RCB-Management , who acquired him for a whopping price of Rs 12 crore.

View All Shorts

---Advertisement---

Trending