SENSEX NIFTY
Feb 21, 2013, 09.37 PM IST | Source: PTI

Jet engineers on 'go-slow' mode, force flight cancellations

Even as its senior executives are reported to be in Abu Dhabi to further negotiate with Etihad on the proposed stake sale to the Gulf carrier, Jet Airways engineers are on a "go-slow" mode following the failure of talks over wage hike and arrears, sources said.

Even as its senior executives are reported to be in Abu Dhabi to further negotiate with Etihad on the proposed stake sale to the Gulf carrier, Jet Airways engineers are on a "go-slow" mode following the failure of talks over wage hike and arrears, sources said.

Following this, the airline had to cancel two flights from Chennai to Madurai and Coimbatore, they said.

The engineers' move comes weeks after a section of the airline's technicians registered their protest on the same issue by sporting black bands.

"A section of engineers are on a go-slow mode as their negotiations with the management on wage hike and arrears failed," Jet Airways sources told PTI here.

If more engineers join the protest, it may have a bearing on the operations in a big way in the days to come, airline sources added.

Also read: AirAsia ropes in Tatas to launch airline; seeks FIPB nod

The Jet Airways spokesperson was not available for comments.

The engineers' action comes amidst the airline's ongoing talks with the Gulf-based Etihad for a stake sale, which has been going on ever since the government allowed FDI in the sector in September.

The labour unrest, led by pilots and engineers, had been brewing at the carrier for the past one month or so, demanding wage hikes and payment of their arrears, pending since 2011. However, the pilots have so far refrained from  resorting to any industrial action to press for their demands.

The airline had last month signed a wage hike tripartite agreement with its employees and officers association, which claims to be representing around 7,500 ground staff, including officers, giving them a salary raise of up to Rs 18,000 per month.

Meanwhile, a Jet spokesperson said this evening that the airline had to cancel two flights from Chennai in the morning for engine repair and not because of lack of engineers. Denying that there was any labour trouble, she said engine trouble in the aircraft last night had led the airline to cancel its flights from Chennai.

Jet Airways stock price

On October 22, 2014, at 11:55 hrs Jet Airways was quoting at Rs 227.00, up Rs 0.75, or 0.33 percent. The 52-week high of the share was Rs 357.50 and the 52-week low was Rs 203.50.


The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.16.

READ MORE ON  Etihad, Jet Airways, wage, FDI
Set email alert for

ADS BY GOOGLE

video of the day

HDFC Bank, ICICI Bank top picks: Jitendra Sriram

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.