Kingfisher cuts salaries of pilots by Rs 80,000

Kingfisher Airlines, the private air-carrier has effected a Rs 80,000 cut in the salaries of its pilots. This is the impact of the global financial crisis on the aviation sector.

A spokesperson of the Vijay Mallya-led airline confirmed the pay-cuts but said it was the result of a move "towards a productivity-linked compensation structure, which is the international norm", according the media reports.

Last year there were reports of lay-off and re-induction of Jet Airways employees. While it was expected that due to the global financial crisis, the aviation companies have been badly affected.