SpiceJet asks 50 captains in its flight crew to leave in a month
ET News Today :
The move shows SpiceJet will stick to its “shrink to grow” strategy as it readies itself for a possible fund infusion from its ex-promoter Ajay Singh.
Spicejet has asked 50 of the captains in its flight crew to leave in a month, according to a person in the know, underscoring the troubled low-cost airline's intention to cut costs and adhere to a trimmed workforce. "It is true. We have been asked to leave in 30 days even though the DGCA stipulates six months as notice period," said a pilot. SpiceJet chief operating officer Sanjiv Kapoor said this relates to pilots "who have communicated their decision in writing to leave the company."
"We are working through options that are fair and in compliance with regulations but at the same time addresses the fact that we currently have a surplus of pilots. We are seeking additional inputs before making any final decision. In the meantime, we have been waiving the notice period for most pilots who have requested a waiver," he said.
The move shows SpiceJet will stick to its "shrink to grow" strategy as it readies itself for a possible fund infusion from its former promoter Ajay Singh and an arm of JP Morgan Chase. The investors may be planning to infuse Rs 1,200 crore into the company, according to officials at the civil aviation ministry. Current promoter Kalanithi Maran is looking to exit, the person quoted above said.
Last edited by zulu_01; 29th Dec 2014 at 06:03.