DNA Money Edit: Jet Airways may hurtle down further

Crisis-hit Jet Airways is set for further headwinds, as its pilots are likely to take a call next month in case the carrier fails to adhere to the timeline set for partial payment of salaries. The pilot union, which met earlier this week, discussed the situation at the airline. Jet Airways has been making salary payments to many of its employees, including pilots, in a staggered manner, amid financial crunch since the past many months.

The development comes as a sign of warning to the airline management, which till now has been able to hold the pilots on its sides. This is also likely to put further pressure on the management to bring funding at the earliest, as any further delay for it may mar its operations if the pilots decide to go for any collective action. The National Aviators' Guild (NAG) claims to represent over 1,100 members of the 1,800 pilots with the carrier.

In August last year, the pilots' union had sought details of the company's turnaround strategy, including the various cost-cutting measures and fund utilisation. The union had asked the management about how much it would save from cost cutting measures and how it plans to utilise the money.

Jet Airways, which is facing its worst existential crisis, is also said to be allowing its pilots to leave without serving notice period, which has enabled several dozens of pilots to move out in few days of putting their papers.