Shares of Jet Airways on Wednesday tanked over 10 per cent in the morning trade as the airline has posted its highest-ever annual loss of Rs 4,129 crore (Rs 41.29 billion).
Jet Airways said on Thursday it will increase fuel surcharge by Rs 150 on both Club Premiere and Economy Class tickets on domestic routes, with effect from May 4.
Fresh troubles are brewing for Jet-Etihad deal.
In the India-US sector, for instance, Air India operates 15 stopover flights between Mumbai and Chicago, and Mumbai and New York
Al-Nahayan wants govt assurance on protection of its foray, meets Anand Sharma.
Jet has proactively undertaken certain operational adjustments to its flight schedule, keeping in mind the likely, yet interim non-availability of some aircraft in its fleet in the foreseeable future.
The main reason for setting up the facility is to avoid sending airframe maintenance work abroad and perform this labour intensive work at a comparatively lower cost in India.
Amid controversy over the Jet Airways-Etihad deal, the Prime Minister's Office on Tuesday said the stake sale matter was still under examination and the issues raised have been referred to various concerned ministries.
The summer schedule of airlines starts from March 29.
Even as its senior executives are reported to be in Abu Dhabi to further negotiate with Etihad on the proposed stake sale to the Gulf carrier, Jet Airways engineers are on a "go-slow" mode following the failure of talks over wage hike and arrears, sources said.
Leading private airline Jet Airways has put on its board a director whose security clearance is still awaited, contrary to stipulated norms of Director General of Civil Aviation.
The Home Ministry has conveyed to the Department of Economic Affairs (DEA) that it has not given security clearance to the Abu Dhabi-based Etihad Airways' proposal to buy a 24 per cent stake in Jet Airways.
According to reports Etihad Airways chairman Sheikh Hamed bin Zayed al-Nahayan said the Abu Dhabi-based carrier needs to revise its deal to buy a stake in the Indian carrier and it was too soon to say when a final agreement between the two carriers would be struck.
The Monopolies and Restrictive Trade Practices Commission, which is inquiring into the Rs 2,300 crore (Rs 23 billion) takeover of Air Sahara by Jet Airways, has forwarded the case to the director general (investigations and registrations
The airline has struggled to pay salaries and vendors on time and its Rs 10,963 crore fund and non fund based facilities have now been assigned 'D' rating by ICRA - the seventh rating downgrade since March 2017.
The 3,000-odd cabin crew of Jet Airways cabin has been asked to take a day's leave without pay each month as a cost-saving exercise.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
The audit was ordered after one of the airline's planes plunged several thousand feet while flying over the Turkish airspace on the Brussels-Mumbai route early last month.
To take delivery of 50 from 2017 and in talks to lease five Airbus planes to Kuwait Airways.
Alleging that something was fishy in the Jet-Etihad deal, BJP today demanded that the Prime Minister's Office should come clean on the issue.
Former Air India Executive Director Jitendra Bhargava had filed the appeal questioning the decision of CCI to approve the Jet-Etihad deal without carrying out a detailed assessment.
Jet Airways on Wednesday inked a deal with Canadian simulation and training solutions provider CAE for supply of Boeing and airbus simulators.
The airline also plans to introduce a third daily direct flight from Mumbai to Bangkok during the winter schedule.
In a new twist to their battle, Air Sahara on Wednesday informed a Lucknow court that Jet Airways has terminated the takeover agreement.
The unions opposed any move to force banks to lend more money to the airline, saying Naresh Goyal is still the promoter and major shareholder with 51 per cent stake and it is his headache to run the company or sell it to someone.
The airline has now agreed to pay 3 per cent commission on gross fare (defined as basic fare plus fuel surcharge) of domestic and international tickets sold in India.
'In 50 seconds, the pilots were fighting drag, trying relight, throttling up and avoiding obstacles.' 'They had neither height nor speed. There was no margin.'
Air India and Jet would, however, operate their flights to the US and Canada by taking a diversion, sources in the airlines said.
What do you think about this takeover? Is Jet Airways set to monopolise the Indian aviation market? Do you think the tariffs will rise? What do you think? Tell us!
The National Company Law Tribunal (NCLT) on Monday ordered the liquidation of Go First, the budget carrier that stopped flying nearly three years ago after being bogged down by financial woes. In May 2023, the airline filed for a voluntary insolvency resolution process citing financial woes. The tribunal, in a 15-page order, said it is ordering the liquidation of the corporate debtor Go Airlines (India) Ltd.
The market is abuzz about how the fabled investor got it wrong.
Jet Airways will not operate some of its flights to and from West Bengal and Kerala on Tuesday following a strike call by major central trade unions.
Over 2,500 travel agents and online travel portals started selling Jet Airways tickets again from this morning after the airline, the country's largest by market share, succumbed to pressure and agreed to pay them a 3 per cent commission.
Move a protest against withdrawal of commissions.
Jet Airways is planning to launch flights to Shanghai, San Francisco and Washington from New Delhi and Mumbai by February. The company also intends to raise Rs 500 crore (Rs 5 billion) via equity dilution.
Rakesh Jhunjhunwala-backed new airline Akasa is in talks with US aerospace company Boeing for buying up to 100 737 Max aircraft. Former Jet Airways CEO Vinay Dube and his family members are promoters while ex-IndiGo president Aditya Ghosh is a board member of the airline. The airline is in negotiation with Boeing and has reached out to the government to recertify the aircraft which has been grounded since 2018 after two crashes killing 349 persons, according to sources in the know.
The Union Cabinet on Thursday cleared the Rs 2,058 crore (Rs 20.58 billion) stake sale deal between Jet Airways and Abu Dhabi carrier Etihad.
Petroleum Secretary R S Pandey separately pointed out that the airline had defaulted on payment of fuel bills to oil companies and owed them Rs 259 crore (Rs 2.59 billion). The airline, which is battling to survive the downturn in the industry, has handed out the pink slip to 1,900 employees, mostly cabin crew - which it expected to result in savings of $1 million a month.
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