Kingfisher Airlines cuts 300 jobs
In an effort to tide over rough weather that has gripped the aviation industry, Vijay Mallya-promoted Kingfisher Airlines is cutting 300 jobs, besides returning surplus aircrafts.india Updated: Sep 22, 2008 15:00 IST
In an effort to tide over rough weather that has gripped the aviation industry, Vijay Mallya-promoted Kingfisher Airlines is cutting 300 jobs, besides returning surplus aircrafts.
"As part of a concerted company-wide effort aimed at minimising the impact of the ongoing turbulence faced by the aviation industry, Kingfisher Airlines has, over the last six months, embarked on a series of restructuring measures designed to achieve cost savings and rationalisation and operational efficiencies," a company spokesperson said.
"As a result, a set of 300 employees have chosen to move on and have parted ways with the company and/or put in their resignations," he added.
The carrier is also returning surplus aircrafts to lessors, which are now redundant consequent upon route rationalisation, he added.
"We have already returned two aircraft and are closely monitoring aircraft utilisation," the spokesperson said.
Elaborating the reasons behind downsizing of staff, he said as the process of integration of the two entities (Kingfisher and Simplifly Deccan) nears completion, the carrier examined the complete organisation structure of the airline and mapped the skill sets of the existing talent pool with the projected talent requirements of the company.
"Many employees were counselled on their career path progression and best utilisation of their individual skill sets," he said.
As a token of goodwill, the carrier is offering all these employees a severance package equal to two months gross salary for every completed year of service (subject to a minimum of 3 months pay-out), the spokesperson said.
Kingfisher Airlines currently operates 424 domestic flights and two international flights with a total of 86 aircrafts.