SpiceJet shares slide 4% as 80 pilots are sent on leave without pay

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The pilots, who were forced to go on leave, leave without pay.

New Delhi:

Shares of SpiceJet fell more than 4 percent on Wednesday after the company said it had asked 80 of its pilots to take three months of unpaid leave.

The company’s shares fell 4.01 percent to settle at Rs 41.85 apiece on the BSE. During the day, it fell 4.24 percent to Rs 41.75.

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The move is a temporary measure to rationalize costs, the airline headquartered in Gurugram said Tuesday.

“This measure, in line with SpiceJet’s policy of not firing any employee, which the airline has steadfastly followed even during the peak of the Covid pandemic, will help rationalize the pilot’s strength relative to the aircraft fleet. said the budget airline. in a statement.

The pilots, who have been forced to take unpaid leave, are from the airline’s Boeing and Bombardier fleets.

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