Cash-strapped Jet Airways’ management and the pilots have sorted out the impasse over delayed salary payments at a meeting on Thursday. Under this resolution, the company has agreed to pay all dues by April 2019 after which the salaries will become current.

Until April, the payments will be made in a staggered manner. About 75 per cent of October salary will be credited in December out of which 25 per cent will be credited on Thursday. The balance 25 per cent of October salary and the 75 per cent of November payout will be paid in January 2019. The 25 per cent of November salary plus 100 per cent of December wages along with 25 per cent of January payout will be paid in February. The balance 75 per cent of January payout and entire February salary will be paid in March “100 per cent of March will be paid in April and after that salary will become current,” a source told BusinessLine .

Jet Airways spokesperson said, the company “is committed to meet its salary obligations towards its employees and to that end, has assured a section of its employees comprising pilots, AMEs and members of the senior management, of clearing all pending dues by April 1, 2019.”

All employees, including its pilots and engineers, continue to actively cooperate to ensure its successful turnaround.

Sources said Jet Airways is expected to communicate this officially to its staff on Friday. This comes after months of negotiations between the management and the pilots association — National Aviator’s Guild (NAG) According to sources, Jet Airways has approached its Abu-Dhabi based investment partner, for a soft loan of $350 million to tide over the immediate cash crunch.

Earlier, during an analyst call, the airline confirmed that the salaries of nearly 15 per cent employees was pending. Jet Airways has a pilot base of about 1,800, of which about 15 per cent are women. According to a source, over 30 pilots have quit their jobs recently.

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