Jet said apart from Hariharan, AS Bedi and S Bandula are leaving the company as a result of better career prospects and family commitments. While refusing to be drawn into specifics, Jet pointed out that attrition was a common phenomena in any business enterprise and the growing aviation industry in India cannot be excluded.
More than a year after joining hands with Kingfisher Airlines, Jet Airways is still in talks with the Vijay Mallya-led carrier for code sharing and other initiatives to achieve operational synergies and reduce costs.
India's international carrier Air India has come to the relief of Jet Airways passengers, after Jet had to cancel over 130 flights when 400 pilots failed to show up for work.
Jet Airways said on Tuesday its aggressive overseas and domestic expansion plans are not linked with the $400-million qualified institutional placement issue that provides cushion for buying more aircraft.
Jet Airways, India's largest airline in terms of marketshare, is looking at an equity dilution, said Founder and Chairman Naresh Goyal.
Jet Airways is working on a plan that will entail a reduction in flight duty hours of its unconfirmed cabin crew (that will reduce their take-home salary), withdrawing some perks and downgrading entitlements like hotels as part of a package to reduce manpower costs. Perks on the block include a weight allowance (given to cabin crew if they maintain a certain body weight) and allowances for staying abroad amongst others.
The no-frills brand is poised for a big leap by debuting in some international routes as well.
Jet Airways chairman Naresh Goyal said his airlines, if given permission, would start off by flying to Southeast Asian countries.
Air-India (A-I) chairman and managing director Vasudevan Thulasidas and Jet Airways chairman Naresh Goyal have a common agenda: to get their airlines among Asia's top five by 2010 in terms of size and service.
Private airline Jet Airways is in talks with Lufthansa Group to float a wholly owned subsidiary for dedicated cargo operations.
The carrier, which fired 1,900 employees in October only to reinstate them under pressure from various quarters, has made the request to pilots, cabin crew and engineering staff, a source in the airline said on the condition of anonymity. It is, however, not clear what the airline proposes to do if the employees do not agree for a voluntary pay cut.
Less than 48 hours after Jet Airways announced the retrenchment of 1,900 employees, the airline has decided to reinstate all the employees. Jet Airways Chairman Naresh Goyal, in the late evening press conference on Thursday, requested all the sacked employees to come back to work from Friday.
Jet Airways has convened a board meeting on Friday, May 23, which is expected to consider the future of executive director Saroj K Datta, who, sources said, may exit the airline after May 31. Chairman Naresh Goyal, who was in Mumbai last week, reportedly discussed the issue with Datta, a veteran of over 46 years in the airline industry.
"With the regulatory approval process now finalised for the new route, we are very pleased to enter this new stage of Jet Airways' North American expansion," Jet Airways founder and chairman Naresh Goyal said.
"The Chinese government has never allowed a third party to operate to the US out of China. This is for the first time that our government negotiated with them to do so. We hope to get the permission from China soon," Jet Airways Chairman Naresh Goyal told reporters. With the launch of San Francisco flight from May 5, Jet Airways would become the first private carrier to operate a non-stop daily flight to Shanghai from country's financial hub of Mumbai.
India's largest private carrier Jet Airways said on Tuesday it expects to more than double its revenues to $3 billion in the next three years. The company on Monday announced its total income rose over 26 per cent to Rs 2,254.17 crore (Rs 22.54 billion) in the second quarter this fiscal from Rs 1,787.33 crore (Rs 17.87 billion) during the same period last fiscal.
The liquidity crunch in global markets following the crisis in the US sub-prime mortgage business has prompted Jet Airways to postpone its $ 400 million rights issue to finance the airline's aircraft acquisition by two or three months.
Jet to raise $400m and add 20 new aircraft for expansion.
Pilots and engineers to be affected by this move are understood to have expressed their opposition to it and are considering their response, the source said. The airline employs around 13,200 personnel with around 2,000 of them drawing a salary of more than Rs 100,000 a month. These officials comprise mainly pilots and maintenance engineers.
Reduce high-cost loans, create a contingency fund and play long term. These are the only mantras to survive during a slowdown.
However, any progress on the deal depends upon Goyal giving up control of the company.
Jet Airways is all set to spread its wings to Beijing, Milan and Paris within a year. The airline currently flies to London it is the market leader on this route with a robust share of 33 per cent and Brussels, which is also its second hub after Mumbai. Jet will be operating flights to Dubai from New Delhi and Mumbai. Taking on Air India's other strategic market, Goyal also announced the date for the launch of the airline's Mumbai-Shanghai-San Francisco flight.
Battling to grab market share on international routes, Jet Airways has drawn up plans to make China a hub for flying to popular destinations like San Francisco and Los Angeles on the US west coast and to Vancouver in Canada in the near future. "It is much shorter to fly from China to the US west coast than from Singapore. This way, the yields on the routes will also be higher," said Jet Airways Chairman Naresh Goyal.
The Supreme Court will hear on October 26 a petition alleging that Jet Airways chairman Naresh Goyal has links with the underworld. An appeal filed by M Furquan, a Delhi-based journalist, has alleged that funds for Jet Airways was given by underworld don Dawood Ibrahim. He has also sought a CBI inquiry into the matter.
Jet Airways Chairman Naresh Goyal said this price represents a 40 per cent discount to the originally agreed price.
Jet Airways has placed a $300 million order with US aeroengine major GE for supplying engines to power the Mumbai-based airline's Airbus A 330-200 fleet.
Jet is losing money fast, beset by high costs, low fares and cut-throat competition in its domestic market.
Jet Airways Chairman Naresh Goyal said on Friday Air Sahara employees would not lose their jobs as a result of his company taking over the Lucknow-based airline.
Etihad has high hopes from Jet Airways deal in which it bought out majority stake in 2013.
"We humbly request to you to alleviate some of the hardships that we and engineers have been facing, by ensuring that the new Jet management does not further delay our pending salaries dues at the earliest," NAG general secretary Tej Sood said in an e-mail to SBI chairman Rajnish Kumar.
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