SME Times is powered by   
Search News
Just in:   • New MSME definition will come into effect from July 1  • New Microsoft programme to empower agritech startups in India  • Goa to set up telecom task force on network, connectivity issues  • Survey shows large-scale job losses, lower food intake amid lockdown  • 'It's 'criminal' not to give cash support to MSMEs' 
Last updated: 25 Mar, 2020  

Flight.9.thmb.jpg Covid-19: GoAir decides to reduce pay across board

goair.jpg
   Top Stories
» New MSME definition will come into effect from July 1
» 'It's 'criminal' not to give cash support to MSMEs'
» Covid-hit India sees extreme slide in business activity
» Cabinet nod to EGoS to attract investment
» Economy will bounce back, Modi assures industry
SME Times News Bureau | 25 Mar, 2020
GoAir on Wednesday decided to institute a limited pay reduction measure across the board to deal with the economic fallout of Covid-19 and the lockdown.

The company communicated this decision, which will be administered in the pay for the month of March, to its employees.

The quantum of reduction varies in scale for various grades of employees with the least burden being put on the lowest salary earning category in the company.

Queried on the development, a GoAir Spokesperson said that the company has taken a conservative approach considering that "we don't have a view of how the situation will pan out. Besides, we are also awaiting govt measures like in the case of all major countries in the world have done."

The airline had earlier said that its top management's pay will be reduced by 50 per cent during this period.

On March 17, the airline had said that it has initiated a short term rotational leave without pay programme that "will not only help the company counter the short term reduction in capacity, but will also ensure that a cross section of our employees stay away from the workplace for a month at a time to ensure business continuity".

"Knowing that this will put a financial burden on the affected employees and having studied what companies have done in other countries to help guide our plans, this decision was not taken lightly," the company had said in a statement that time.

"In addition to addressing our short term financial and network requirements, airlines in India have petitioned the Government of India for immediate support, as most other governments around the world have already provided to their similarly affected airlines."

According to the statement, the airline has taken many immediate measures to make the business more efficient.

"GoAir has been profitable for the past several years and the airline remains on track to receive 12-15 aircraft each year through the end of 2025 in support of our planned growth," the statement had said.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 04 Jun, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» FM reviews macro-economy in FSDC meet(1)
» 86% workers globally demand new skills training from employers: Survey(1)
» Appoint distributors, expand your business(1)
» MSME stimulus(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter