With the grounding of Jet Airways leaving tens of hundreds of trained staff up for grabs, there can be a short-term salary correction in the industry, as there are not enough jobs in the market due to the supply glut, say headhunters.
Teetering for months, the full service airline Jet Airways was finally grounded on April 17, leaving over 22,000 employees in the lurch. The once premium airline used to employ around 1,300 pilots and over 2,000 cabin crew.
They are now out in the job market, leading to a supply glut as other airlines are not in a position to absorb not even a quarter of the them due to their poor finances.
“Given the current situation, there are plenty of professionals willing to take a salary cut of up to 50 percent to grab a job. However, this will only be for the short-term as we see demand improving as the aviation sector is poised to grow further,” Michael Page India director Mohit Bharti told PTI Monday.
“There are definitely not enough jobs in the market now to absorb the influx of Jet employees in one go. But, it is very encouraging to see other airlines increase their hiring as they recognise the availability of good talent and the potential to secure them for their businesses in the future,” he added.