Air India Offers 3-day Working Week To Permanent Staff At 60% Pay

on Friday introduced a "shorter working week scheme" under which its permanent employees, except pilots and cabin crew members, can opt to work for three days a week at 60 per cent salary, said senior airline officials.

This measure has been introduced in order to improve the airline's cash flow position amid the pandemic, they added.

"The permanent employee who opts for such a scheme can avail this for a period of one year," the officials said.

The pandemic has impacted the aviation industry significantly, and all airlines in India have taken steps like cutting salaries of employees, firing employees to improve their cash flow.

The officials said that the employees opting for the "shorter working week scheme" would not have the option to take any other employment during the remaining days of the week.

After a gap of two months due to the coronavirus-triggered lockdown, India resumed its domestic passenger flights from May 25 albeit in a curtailed manner. International passenger flights continue to remain suspended in the country.

After failing to disinvest from two years ago, the central government restarted the process in January this year. However, due to the pandemic, the process has slowed down.

is a loss-making enterprise and it has a debt of more than Rs 60,000 crore.

RECENT NEWS

JPMorgan's Berlin Moment: Chase Takes On Europe

There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more

What Strategy's Bitcoin Sale Really Tells Us

There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more

Coutts Sets Scope On New Continent

Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more

From Cypherpunk To Citadel

How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more

ACB Securities: Building Scale, Trust & Innovation

ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more

War Risk Returns To Markets As VIX Surges

For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more