Jet Airways, just out of a pilots' strike, sprung a surprise by announcing a 50 per cent discount this week on its Economy Class fares on all domestic flights.
The airline owes lakhs of rupees to passengers and its vendors.
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.
Private carriers Jet Airways and Kingfisher owed over Rs 1,050 crore (Rs 10.50 billion) to the public sector oil marketing companies (OMCs) like Indian Oil, HPCL and BPCL towards the payment of jet-fuel bills as on November 15.
The pilot applied the emergency brakes and the plane stopped on the runway itself.
The airline intends to raise the money to meet its cash flow requirements and had got the shareholders' approval for the same on July 24.
The National Company Law Appellate Tribunal (NCLAT) on Thursday directed the Kalrock-Jalan consortium, the winning bidder for bankrupt Jet Airways, to share portions of the resolution plan pertaining to claims of employees with the airline's workmen. The Association of Aggrieved Workmen of Jet Airways (India) Ltd had sought a copy of the approved resolution plan and the latest direction has come on a plea filed by the association. The development comes almost seven months after the Mumbai bench of the National Company Law Tribunal (NCLT) approved the Jalan-Kalrock consortium's resolution plan in June 2021.
Supreme Court on Friday stayed proceedings on petitions filed by Jet Airways and Air Sahara against each other at Mumbai and Lucknow courts.
Come mid-April, India's largest private airline, Jet Airways, will don a fresh look. The Naresh Goyal-promoted airline will have fresh internal and external livery for aircraft to reflect its new corporate image.
The airline would leave Mumbai at 7.30 pm and arrive in Riyadh at 9.15 pm. The same plane would then leave Riyadh at 10.15 pm and arrive in Mumbai at 4.20 am.
The five-day-old strike by Jet Airways pilots ended on Saturday night as the airline management and the agitators reached a settlement under which the four sacked pilots would be reinstated and a consultative group made up of the two sides formed to resolve all issues.
New Delhi's move is expected to encourage Beijing to grant long-pending clearance to Air India and Jet Airways to launch flights to Chinese cities of Guangzhou and Shanghai, respectively. Air India already operates to Shanghai.
The agreement would allow the travellers to fly United Airlines' trans-Atlantic flights from London to Chicago, Los Angeles, San Francisco, Denver and Washington and trans-Pacific flights from Hong Kong to Chicago and San Francisco.
Jet Airways' loss widened for FY15 on higher cost.
A year on, deal between the two airlines still to gather momentum, partly due to management problems at Jet.
The full service carrier has more than 20,000 employees, including pilots and engineers.
These additional flights will complement the daily flight being operated between the two destinations by the airline, according to a press release.
Private carrier Jet Airways has obtained security clearance from American authorities to fly to the United States.
Liquor baron Vijay Mallya on Thursday said the acquisition of Air Sahara by Jet Airways was expected and it would not affect his Kingfisher airlines as it was doing "well".\n\n
Jet Airways Flight 225 to Chennai was grounded in Toronto on Monday after the police received a bomb threat. A report in Friday's National Post reveals that the police received an anonymous threat less than two hours before the Jet Airways Flight was scheduled to depart from the Pearson International Airport in Toronto.Though the investigators were aware that it might be a hoax threat, they decided to take no chances. Hence, the flight was grounded.
After getting the permit from China, Jet Airways plans to launch its Mumbai-Shanghai-San Francisco services from first week of June.Jet Airways is also carrying out talks with several Chinese carriers for partnerships to provide connectivity in the region, on the lines of the one it has with Brussels Airlines for onward journey to other European cities.
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.
An Air India spokesperson said AI 191 Mumbai-Newark and AI 101 Delhi-New York have been indefinitely delayed due to the hurricane. Passengers have been informed and transit passengers have been provided hotel accommodation in Delhi, the spokesperson said
At the end of September quarter, Tail Winds held 68,15,843 shares, equivalent to 7.89 per cent holding, of Jet Airways.
At least 10 flights of Jet Airways and its subsidiary out of Delhi were cancelled on Tuesday as a large number of pilots did not report to work in protest against sacking of two of their colleagues, a move described as "sabotage of operation" by the airlines.
Jet Airways is planning to float a new entity - Transjet - to house all Air Sahara flights, operations and staff.
After snapping up Air Sahara in a $500-million deal, Jet Airways is likely to operate it as a wholly-owned subsidiary till regulatory and other clearances are granted to the acquisition process.
Failure to meet this deadline would mean Jet would have to forfeit its security deposit. In March 2008, Jet Airways bought 3,44,000 sq mt of commercial plot for Rs 826 crore for developing its global headquarters in the central business district of Bandra-Kurla.
Jet Airways Chairman Naresh Goyal will purchase over one per cent stake in the airline from another promoter entity, Tail Winds, for up to Rs 45 crore (Rs 450 million).
The board of directors of Jet Airways has given its in-principle approval to acquire 26 per cent stake in MAS GMR Aerospace Engineering Company for an unspecified amount.
SBI chairman Rajnish Kumar said Naresh Goyal would be eligible to bid for the airline when the lenders auction it next month.
A day after withdrawal of low fares by some major airlines, Jet Airways and its low-cost subsidiary JetLite have introduced Rs 300 and Re 1 as basic fares respectively under 30-day advance purchase scheme.
Taking a step forward in its $500 million deal to snap up Air Sahara, Jet Airways on Thursday announced it had reached an understanding with the other airline to provide consultancy support to improve its performance in various fields.
The government on Tuesday told the Rajya Sabha that it has not received any formal proposal for merger of Sahara Airlines with Jet Airways, leading to protests by Left members who asked the minister to clarify on the matter.
Growth in the domestic market in the second quarter was fuelled by low fares but this has impacted airline profits.
The real mover and shaker behind the development that grounded India's largest airline remained mostly out of the public eye. That was 63-year-old NAG President Captain Girish Kaushik who was doing the heavy lifting in Delhi and Mumbai.
A day before the opening of its initial public offering, Jet Airways on Thursday said it will pay up to $7.5 million to acquire trademark and intellectual property rights from Naresh Goyal-promoted Jet Enterprises Private Ltd.
A Jet Airways spokesperson also said their flights in and out of Mumbai would operate in accordance with their normal schedule. However, their Kingfisher Airlines counterpart said one flight each on Delhi-Mumbai, Bangalore-Mumbai, Hyderabad-Mumbai and Nashik-Mumbai sectors have been combined with other flights on the same routes.
