I agree that anyone offered a severance package that may include a years pay should take it. It may not be on the table down the road.
The article posted earlier with reference to Spicejet paints an accurate picture of some of the happenings here. When I joined in May of 2007 this place was "happening." Now it may be viewed by some as a sinking ship. The airline has definitely lost a lot of momentum and reputation in these past few months. Bills (hotels, landing and handling, fuel fees etc) seem to be mounting. Even with 65M USD pumped in, not sure what the balance sheet will really look like after all(or any) of the debt is paid. Load factors are generally dismal (most airlines) even though we have the occasional "full" flight.
Rumour has it that our Chief Pilot, Jack Ekl will be leaving Spicejet on 30th September. There has been no official word of it but everyone seems certain of it. With his departure, and depending on his replacement many expats will be making a move as well. He was the reason many expats came here to begin with. Most have applied to FlyDubai, OmanAir, Emirates etc. I think we will probably lose quite a few of the expats by the beginning of Jan 2009. It actually will help the airline because they want to downsize anyway, and their costs will reduce significantly if the expats leave on their own accord.
Payroll is still on time, and usually early. I got paid on the 27th of Sept.