The move to increase sales comes ahead of Tata- Singapore Airlines' entry in the domestic market.
Faced with mounting costs and falling revenues, private airline Jet Airways has laid off 110 employees.Of these employees, 50 are contract employees who have 'superannuated,' and another 60 are probationary cabin-crew.
Manmohan Singh clarifies his office's involvement in the deal that's facing criticism from the opposition and the media.
The provisional restructuring plan has been carried out by lenders, led by State Bank of India, under the Reserve Bank of India's February 12, 2018 circular.
The launch saw plane seats displayed on a huge stage. Those seats 'are considered the world's most revolutionary and most luxurious airline seats -- designed exclusively for Jet Airways,' it was claimed.
Jet Airways launched its flights to Muscat and Doha. The daily flight service will operate from Mumbai and Kerala.
However, the tribunal rejected the plea by the Netherlands based vendors for filing an intervention application, saying the Dutch district court had no jurisdiction to order bankruptcy of Jet Airways.
The two parties have been in talks for a month and a half.
Serious Fraud Investigation Office will probe the airline for instances of fund diversions and large-scale irregularities.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
India, UAE yet to conclude bilateral investment promotion and protection agreement.
Abu Dhabi has asked for an increase in seat capacity post Jet-Etihad deal. If Indian government agrees, more fliers will use Etihad than Air India. This will spell disaster for the country's national carrier.
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.
A day after Sahara Airways operated its inaugural international flight, Jet Airways on Tuesday launched its Chennai-Colombo services.
'Where rostering systems are automated and duty time software interfaces directly with DGCA, the assertion that they suddenly discovered crew shortages is simply implausible.' 'If adequate crew planning hasn't materialised within 12 to 24 months from inception, how will 45 days -- from December 5 to February 12 -- suddenly resolve matters?'
Among executives who have been approached are former president and CEO of IndiGo Aditya Ghosh, Wolfgang Prock Schauer, current president and Chief Operating Officer at IndiGo and Sanjay Kumar, Chief Strategy and Revenue Officer of IndiGo.
Jet Airways would have four directors on the board; there would be seven independent directors as well.
A Jet Airways spokesperson confirmed the pay cuts but said that the move was only temporary and once the situation improved, it would do a revision. The salary cuts range from 5 to 25 per cent and include the top management. In addition, other perks like car facilities and car maintenance allowances have also been withdrawn from May onwards, the source said.
Airline stocks were seen soaring high on Wednesday fuelled by reports that merger plan of Jet Airways and Air Sahara was about to fall apart, even as market analysts said failure of the deal would benefit Jet.
The Raj Thackeray-led Maharashtra Navnirman Sena (MNS) on Monday asked private carrier Jet Airways to make announcements in Marathi and also Marathi movies and newspapers mandatory in flights operating from Mumbai.
Naresh Goyal-owned Jet Airways launched its first flight for Hong Kong from Chhatrapati Shivaji International Airport (CSIA) in Mumbai on Monday. Jet Airways is the first private carrier to have started a service to Hong Kong from India.
Six months after entering into a strategic alliance, Jet Airways and Kingfisher Airlines will soon launch code-share flights on select routes.
Jet has already confirmed an order for 50 737-MAX planes together with up to 10 777-300ERS from Boeing.
The airline has two operating permits and offers both full service and no-frills service in the domestic market.
Airline to increase full-service flights as Kingfisher curtails operations.
The airline assured passengers of the disrupted flights that they will get full refund of their tickets.
The petition said that acts of the Centre and DGCA were highly prejudicial to employees of the company who have been waiting to get paid for the last five months and have been looking forward to the resolution in bid process.
The passenger traffic carried by scheduled domestic airlines in the past five years has grown at an increasing rate annually -- from 5.4 per cent in 1999-2000 to 11.7 in 2003-04, according to official figures.
The employees gathered at terminal-1B and chanted slogans against the airlines' chief Naresh Goyal and Vijay Mallya, the chairman of Kingfisher Airlines. They also vented their ire against the government for not taking any action against the Jet Airways for sacking nearly 1,900 of its employees, mostly probationers and trainees.
He urged employees to bear with him in this difficult situation a little longer, till the airline emerges out of turbulence and fiscal challenges.
Amidst speculation that liquor baron Vijay Mallya will take 100 per cent stake in Air Sahara, Kingfisher Airlines has kick started an advertising campaign to catch privileged passengers of its rival airline.
Jet Airways and Kingfisher have shown interest to operate in the proposed airport in the industrial belt of Asansol-Durgapur region of West Bengal, Subrata Paul, chief executive officer of Bengal Aerotropolis Projects (BAPL) which is setting up the 10,000-crore airport city project, said.
Confirming this, Jet Airways' CEO, Wolfgang Prock-Schaeur, said, "In the process of integrating the airlines, which is a must to keep JetLite afloat, there will be a shift of certain employees from JetLite to Jet and the workforce for both the airlines will be combined."
The pilots have been served 30-day notice stating that their services were not required at this stage, a Jet Airways source told PTI on Tuesday.
