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.
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.
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.
The unnamed 24-year-old suspect worked at Terminal 5 at Heathrow Airport and is said to have charged customers GBP 25,000 per trip to abuse a loophole and fly them across the British Airways network without crucial visa documents.
Jet Airways on Wednesday inked a deal with Canadian simulation and training solutions provider CAE for supply of Boeing and airbus simulators.
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.
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.
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.
Goyal was questioned by the Serious Fraud Investigation Office on Thursday in Mumbai in connection with allegations of some financial irregularities.
In a new twist to their battle, Air Sahara on Wednesday informed a Lucknow court that Jet Airways has terminated the takeover agreement.
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.
The airline also plans to introduce a third daily direct flight from Mumbai to Bangkok during the winter schedule.
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.
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.
To take delivery of 50 from 2017 and in talks to lease five Airbus planes to Kuwait Airways.
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.
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Air India and Jet would, however, operate their flights to the US and Canada by taking a diversion, sources in the airlines said.
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.
The market is abuzz about how the fabled investor got it wrong.
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.
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.
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.
Move a protest against withdrawal of commissions.
Keeping in view the increased chances of government allowing private domestic airlines to fly abroad, Jet Airways has entered into a global tie-up with the international hotel chain Hyatt, its first global hotel partner.
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.
"I have no idea. I have to study the issue. I don't know about it. I am just returning from Bali after attending a labour conference," he told reporters who sought his reaction on Jet's decision to retrench 1,900 employees.
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.
A lengthy court battle between Jet Airways and Air Sahara over their failed takeover deal does not seem inconceivable, as Sahara Group chief Subrata Roy has now moved a local court seeking stay on refund of Rs 500 crore
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.
Highly-paid pilots should not be allowed to unionise.
"The markets do not remain the same forever but still, anything that makes sense to Jet Airways' shareholders will make sense for the promoters as well," Goyal said. Together with JetLite, formerly Air Sahara, which Jet bought last year, the airline controls over 29 per cent of the Indian domestic market.
The apex court issued notices to the Centre, ministries and departments concerned, Jet Airways and United Arab Emirate's Etihad Airways on the petition challenging the deal and sought their responses within four weeks.
The fares are valid for only 20 days starting Friday. The total fare, after adding taxes and surcharges, would come close to above Rs 30,000. Meanwhile, full-service carrier Jet Airways increased its London special return base fares from Rs 9,900 to Rs 11,900. Travel industry sources said airlines like Virgin Atlantic were expected to follow BA and go for a reduction in fares.
Jet Airways said on Tuesday the domestic aviation industry would soon witness a shakeout, but hoped the country's largest private airline would come out of it unscathed.
The Centre for Asia-Pacific Aviation also expects India's airlines to post a combined loss of a whopping $1.4 billion, with Air India likely to be the 'worst performer' to report a loss of almost the entire amount of $1.3 billion.
Private carrier Jet Airways is expected to further consolidate its international operations into a major revenue grosser in FY09, to overcome the growing turbulence in the domestic sector. The general economic scenario does not bode well for capacity expansion on domestic routes, with some of these struggling on account of overcapacity, and only yesterday some airlines were pushed to hike fares to make up for higher aviation turbine fuel prices.
