Jet Airways hikes pilots' salaries by 18 per cent

June 09, 2013 13:29

Private carrier Jet Airways has hiked the salaries of its pilots, acceding to their long pending demand, even as its 24 per cent stake sale deal with Etihad Airways awaits regulatory approvals.

"The airline has hiked its pilots' wages by up to 18 per cent in staggered manner with retrospective effect from 2010-11," sources close to the development said in Mumbai.

The maximum hike stands at 6 per cent per year based on the pay scales of the pilots.

Jet Airways has about 13,000 employees on its roll, of which about 1,100 are pilots.

Earlier in January, the carrier had announced a wage hike of up to Rs 18,000 for its around 7,500 ground staff.

Jet had signed a wage revision with employees for three years -- FY11-13 in 2010. However, it failed to honour the agreement citing recession.

The airline, which reported higher quarterly losses at Rs 495.53 crore in the January-March quarter of last fiscal, has signed a 24 per cent stake sale deal with Gulf carrier Etihad for Rs 2,058 crore.

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