Desperate to retain pilots, Jet Airways asks junior pilots to deposit Rs 1 crore bonds

Jet Airways has asked junior pilots to furnish surety bonds worth up to Rs 1 crore The pilots must also serve the airline for at least five to seven years The up to Rs 1-crore bond may be to ensure the co-pilots don't leave

In a bizarre diktat, private airline Jet Airways has asked junior pilots to furnish surety bonds worth up to Rs 1 crore and serve the airline for at least five to seven years.

The development comes at a time when many of its junior pilots have been asked to take ten days off every month, a move that would result in up to 30 per cent pay cut, as part of cost saving measures. 

The pilots' union of Jet Airways, the National Aviators Guild (NAG), said that the junior pilots had been asked to furnish surety bonds worth Rs 1 crore.

Last week, the airline had asked 318 co-pilots to take ten days off a month from August 1 which will mean at least 30% pay cut or leave if they were not ready to work on these changed conditions.

The up to Rs 1-crore bond may be to ensure the co-pilots don't leave and Jet finds itself short of pilots when the number of flights needs to be increased.

A  Jet Airways spokesperson said to PTI, "No new bonds have been asked for. It is just a pattern that has been introduced." 

"As an interim measure, we shall be offering you a Lifestyle Work Pattern which entails ten days block off per month with the appropriate remuneration. This will be effective from August 1, 2017," the carrier said in a letter to many junior pilots last week. 

The NAG would be taking up the matter with the management soon, sources added. 

(With inputs from PTI)