'Jet Airways sacks 850 employees'

{image-Jet Airways_15102008.jpg news.oneindia.in}Mumbai, Oct 15: Close on the heels of forging an alliance with Kingfisher Airlines, leading private airliner Jet Airways has sacked nearly 850 employees, most of them on probation.

Sources in the Jet Airways said on Wednesday, Oct 15 the Airline had sent the pink slips to nearly 850 staffers as a cost cutting measure. Worldwide financial crisis and the high cost of Aviation Turbine Fuel (ATF) had crippled the Indian aviation sector. ''It is part of handling economic slowdown and carefully rationalising the operation,'' the sources said, adding that the downsizing was based on capacity, load-factor and traffic patterns. Jet Airways and Kingfisher Airlines, accounting for nearly 60 per cent of market share in India, forged an alliance on Monday, Oct 13 to share their resources and routes and tideover the crisis and save over Rs 1,000 crore annually.

UNI