Kingfisher Airlines slashes salaries of trainee pilots

Mumbai: Kingfisher Airlines on Saturday and said it has slashed salaries of its trainee pilots 'significantly'.

"Remunerations of these (trainee) pilots have been slashed significantly as a part of our cost-cutting initiatives," a senior Kingfisher Airlines said without giving the quantum of the cut.

Line pilots and commanders of flights, have, however, been exempted from this move, he said.

"The airline had to resort to this move as some of its aircraft have been grounded," the official added.

Earlier, Kingfisher Airlines had cancelled the order for five A-340 aircraft which had been booked two years ago.

Meanwhile, on October 14 India's biggest private carriers Jet Airways and Kingfisher Airlines announced that they had forged an alliance.

Jet Airways chairman Naresh Goyal and his Kingfisher Airlines counterpart Vijay Mallya issued a joint press statement in Mumbai after a marathon meeting.

The alliance is of wide-ranging proportions that will help both carriers reduce costs, synergise operations and improve services, say the allies.

In September 2008, after the aviation sector was hit by recession the airlines had laid-off 300 employees part of a concerted effort to minimize the impact of the ongoing turbulence faced by the aviation industry.

(With inputs from PTI)