British Airways had said on Tuesday it was temporarily suspending flights from Gatwick Airport, Britain's second-busiest airport, as the aviation sector reels under the coronavirus crisis.
According to a senior official in SpiceJet, there were some employees who had got just a few thousand rupees in their bank accounts from the company as salary till now.
"SpiceJet management has decided to implement a pay cut between 10-30 per cent in March across our employee base. Our Chairman and Managing Director (Ajay Singh), in fact, has opted for the highest cut of 30 per cent in compensation," the airline said in the communication.
On Sunday, low-cost carrier SpiceJet said one of its first officers had tested positive for the disease.
While sources indicated that SpiceJet returned the aircraft on account of a cash-crunch, a company spokesperson denied the financial situation as a factor and said the carrier did not need the aircraft due to the trimmed operations.
During the last few days, the airline has also taken other cost cutting measures -- it has laid off its expat pilots, asked its employees to go on leave without pay on a rotational basis, and announced that its top leadership would be taking a pay cut of up to 50 per cent.
The suspension of around 3,300 daily flights means thousands of cancelled tickets and passengers who are left wondering about whether they will be refunded the booking amount.
The flight had taken off on Friday from Amsterdam without prior approval from the Directorate General of Civil Aviation (DGCA) to carry passengers from the European country, and according to sources in the government, the flight was not permitted entry into Indian airspace once DGCA officials learnt of it.
At Delhi’s Indira Gandhi International Airport, several aircraft have been parked at Runway 27 of the aerodrome for lack of enough parking bays available.
In the Middle East, airlines have lost more than $7 billion in revenue as of March 11, according to the International Air Transport Association.
While IndiGo, SpiceJet and Vistara will be operating a reduced schedule, budget airline GoAir has suspended all of its flights for Sunday.
On Thursday, the government announced that no incoming scheduled international commercial passenger aircraft shall be allowed to disembark passengers on Indian soil after 1:31 am of March 23 till March 2
The FDI policy earlier permitted NRIs to take only 49 per cent stake in the airline.
New Zealand on Friday offered its national carrier a NZ$900 million ($510 million) lifeline, which Finance Minister Grant Robertson said would help it survive after the government banned all non-resident arrivals to the country.
IndiGo, which is India’s only cash-positive airline, reported total cash of Rs 20,068.70 crore on its books as of December 2019. The situation for other airlines is even more precarious.
"Our Chennai-Colombo flight will restart from the 25th March, 2020, while our Delhi-Dubai and Mumbai-Dubai flights will resume from 16th April, 2020," the official added.
With countries sealing their borders partially or fully across the world due to the novel coronavirus pandemic, the aviation sector has been hit extremely hard.
The 270-day deadline for the insolvency process ended on March 15. FE last week reported that the process had come to a standstill without concrete resolution plans from potential buyers.
On Tuesday, Air India announced cost-reduction measures withdrawing entertainment allowance to executive pilots, in addition to cutting layover allowances for cabin crew.
The Aircraft (Amendment) Bill, 2020 provides for statutory backing to the DGCA, Bureau of Civil Aviation Security (BCAS) and the Aircraft Accident Investigation Bureau (AAIB).
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