KFA
It seems all managements in India don't know how to run their companies as various threads are suggesting. What all are forgetting is that the Indian Aviation industry has seen one boom and this was their first bust. Hope all learn from it.
This is not unique to aviation but all industries in India are scrambling to learn from the last bust. After all most CFO's of these companies were still in High school when the last big bust (1987) happened. Since then they have only seen an upward curve.
In the same token most professionals (pilots included) have till date seen poaching, unreal rise in salaries, abundant job opportunities and job security like in no other place/time in the world. They are also going to have to learn to live with salary cuts, unemployment, repo of houses and cars and other such alien things in life. Remember India as a capitalistic economy is barely 18 years old and this is first big dip it has seen. Also for people who have seen falls in the past this was nothing as compared to outside India and the recovery has been swift compared to 10 years in the 30's and 8 years in the 80's.
Trust me the next one will hit all harder and that time around there will be more sob stories going around.
As an SLF as long as the equipment is well maintained and my travel is incident free, I am just lovin it!