The airline was forced to ground its fleet in December after running out of cash.
The interim funding has not been forthcoming thus far, and as a result Jet has extended cancellation of international operations until April 18.
The average fares charged by Jet Airways and its low-cost carrier arm Jet Konnect were higher than the average industry fares on almost all routes, according to a monthly internal analysis for July by the Directorate General of Civil Aviation (DGCA).
Also limits on-flight catering costs at foreign airports to save cost
Unveiling its plans for the newly created hub at Brussels, Jet Airways today said it would operate five flights a day from India to the Belgian capital and provide seamless connections for onward journey to the US and Canada.
This is an increase from a Boeing forecast last year of 1,450 new airplanes worth $175 billion.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
Jet Airways on Friday posted a net profit of Rs 3.52 crore for the first quarter of this financial year, compared to a loss of Rs 225.33 crore in the year-ago period.
Private airlines Jet Airways and IndiGo joined the race for low-fares, offering their customers hefty discounts, after Air India rolled out a similar offer to challenge Vistara, the latest full-service entrant in the domestic market.
Etihad has been in talks for a 24 per cent equity stake in Jet, valued at around $300 million, ever since India relaxed ownership rules and allowed foreign airlines to buy up to 49 per cent in local carriers.
Joining the low-fare war triggered by budget carrier SpiceJet last month, full service carrier Jet Airways on Tuesday announced special fares as low as Rs 2,250 for a single journey across its domestic network.
The expatriates get between $15,000 to 18,000 salary per month besides perquisites such as five-star hotel accommodation and business class conveyance to their home country. Earlier, around Diwali, Jet had sacked about 1,000 temporaray staff but later rescinded its move by taking back all the employees.
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Former Air India Executive Director Jitender Bhargava filed the appeal challenging the decision of the Competition Commission of India to clear the Jet-Etihad deal without carrying out a detailed assessment.
Announcing its ambitious plans to expand overseas operations, private carrier Jet Airways said on Monday it will fly to three North American destinations by next year and almost double the number of pilots to 1,400 by FY'09.
Justice D Y Chandrachud adjourned the case till January 19 after Jet and Sahara India Commercial Corporation Ltd pleaded for time to file additional affidavits.
Jet Airways on Monday awarded $750-million contract to a leading Singaporean firm for maintenance support to engines of its 67-strong Boeing-737 fleet over the next 10 years.
On Wednesday morning, the management sacked 5 more pilots, bringing the total number of those fired to 10.
Shares of Jet Airways on Monday soared by over 18 per cent to touch a one-year high level amid reports of talks between the airline and United Arab Emirates' Etihad Airways for stake sale.
Flights to the UK and other European destinations of Air India, Jet Airways and Kingfisher Airlines remained cancelled for the sixth consecutive day today in the wake of huge clouds of volcanic ash emanating from Iceland.
How the first FDI in aviation was achieved.
Jet Airways founder Naresh Goyal and few others have been booked by the Enforcement Directorate in a money laundering case even as the agency is conducting searches at his premises, officials said on Thursday. They said a criminal case against the former chairman of the airlines has been filed under the Prevention of Money Laundering Act after taking cognisance of a recent Mumbai Police FIR filed against him.
Jet Airways, SpiceJet, Kingfisher and other airlines have told the government that they would curtail services frequency and air routes to cut losses after oil companies raised the prices of aviation fuel.
Jet Airways on Friday challenged the jurisdiction of the district court in Lucknow which ordered freezing of the escrow account opened for its buyout of Air Sahara.
Air Sahra on Thursday filed a caveat at the Lucknow Bench of the Allahabad high court pleading that the company should be heard before any order is passed in the ongoing dispute over the transfer of management control to Jet Airways.
Monoplies and Restrictive Trade Practices Commission is all set to give a go-ahead to the biggest aviation deal in India.
Goyal was questioned by the Serious Fraud Investigation Office on Thursday in Mumbai in connection with allegations of some financial irregularities.
In a special gesture towards armed forces, Jet Airways has announced a 50 per cent discount on base fares for all serving and retired defence and paramilitary personnel and their families.
Jet will require short-haul Boeing 737s to feed the traffic to Abu Dhabi, Etihad's home base and hub.
Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.
AIBEA has decided to write to the government and RBI against infusing money into Jet Airways. State-owned banks, including SBI and PNB, are the main lenders to Jet.
Police said the Mumbai-based man identified as Clince Varghese, 26, and hailing from Thrissur district was an anchor of a popular music channel and he was detained for questioning along with his 27-year-old male friend. The two men were booked on the flight(9W 825) that was delayed by two hours following the incident, an airport official said.
The airline has daily flights from Mumbai and Delhi to Dubai. With the launch of the new flights, the carrier will have a total of four daily flights to Dubai from three Indian metros, it said in a statement.
Saroj Datta, executive director, Jet Airways, said capacity reduction was a way to beat the slowdown as air fares were stagnant. Last year, Jet had reduced capacity by 12 per cent. The airline would not reduce the number of aircraft as they were on lease, he said; keeping them idle would add to the company's financial woes. He also hinted at a substantial reduction in employee costs.
Jet Airways' plan to raise funds from international institutional investors will come up for approval by the Foreign Investment Promotion Board this week.
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
The initial public offering of Jet Airways on Friday received bids for 3.11 crore shares from investors against the issue size of 1.72 crore shares within few minutes of opening of bidding.
No immediate relief was in sight for Jet Airways, with an Arbitration Tribunal adjourning arguments of the airline as well its failed takeover target Air Sahara till April.
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