Latest News | SpiceJet Shares Fall over 4 Pc
Get latest articles and stories on Latest News at LatestLY. Shares of SpiceJet on Wednesday fell over 4 per cent after the company said it has asked 80 of its pilots to go on a three-month leave without pay.
New Delhi, Sep 21 (PTI) Shares of SpiceJet on Wednesday fell over 4 per cent after the company said it has asked 80 of its pilots to go on a three-month leave without pay.
The company's shares declined 4.01 per cent to settle at Rs 41.85 apiece on the BSE. During the day, it fell 4.24 per cent to Rs 41.75.
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The move is a temporary measure to rationalise cost, the Gurugram-headquartered airline said on Tuesday.
"This measure, which is in line with SpiceJet's policy of not retrenching any employee which the airline steadfastly followed even during the peak of the Covid pandemic, will help rationalise the pilot strength vis-a-vis the aircraft fleet," the budget carrier said in a statement.
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The pilots, who have been forced to go on leave without pay, are from the airline's Boeing and Bombardier fleet.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)