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.
RPI-A chief Ramdas Athawale was on Tuesday allegedly not allowed to board a Jet Airways aircraft.
Naresh Goyal becomes the country's first airline promoter to receive foreign investment.
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.
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.
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.
Airline now financially more stable but still in the doldrums as the operating environment remains tough.
Major domestic airlines on Wednesday said they were considering imposing a fuel surcharge and hiking air fares following the announcement of a Rs 1,600/kl rise in jet fuel prices from midnight on Wednesday.
IndiGo declined to comment on the matter
Flight cancellations and subsequent grounding of Jet Airways adversely impacted seat capacity in the domestic market which also resulted in fares going up.
Though a formal purchase agreement with Boeing is yet to be signed, SpiceJet's order size could be of 40-50 planes, a source familiar with the development said. At list price, a 737 Max aircraft is valued at about $100 million (Rs 620 crore).
The airlines is in talks with Oman Air and Etihad.
Jet Airways Chairman Naresh Goyal on Wednesday said that he would have no option but to follow 'the law of the land' if an action had to be taken against the agitating pilots, while appealing to them to resolve the matter amicably and return to work. Meanwhile, Goyal met Civil Aviation Minister Praful Patel in the wake of the agitation by the airline pilots.
Improvement in load factors, coupled with an increase in seat capacity after Jet's slots were allotted to low-cost airlines, has resulted in an increase in daily passenger traffic.
India's latest airline will now fly in a swirl of blue. Four months after being taken over by Jet, the erstwhile Air Sahara in its new avatar as JetLite is already showing signs of perking up while readying its new livery.
A slowdown in international passenger traffic has forced Jet Airways to cancel two flights on the Mumbai-Shanghai-San Francisco route. The airline pulled out flights operating on Tuesdays and Wednesdays, citing a dip in load factors. Incidentally, the decision has been taken barely a week before Jet launches its Dubai operations on August 23.
Yogvedanta Poddar, in his 20s, was being interrogated at the Netaji Subhas Chandra Bose International Airport police station to ascertain his motives.
A senior civil aviation ministry official said this was one of the key issues discussed during Civil Aviation Minister Praful Patel's meeting with Prime Minister Manmohan Singh on Wednesday to ask for a relief on ATF. Top airline executives like Jet Airways Chairman Naresh Goyal and Kingfisher Airlines Chairman Vijay Mallya also met the PM to highlight the issue.
The Securities and Exchange Board of India has cleared the initial public offer of Jet Airways.
The alliance, announced in a late night press conference on Monday, will involve code-sharing on domestic and international flights, an interline agreement, joint fuel management, common ground-handling services and cross-selling flights through the global ticketing system.
Jet Airways, which is involved in a tussle with its failed takeover target Air Sahara, on Tuesday failed to get respite from an Arbitration panel on its plea for refund of Rs 500 crore (Rs 5 billion) paid as advance.
Jet Airways' pilots won't get much sympathy, but the management hasn't quite covered itself in glory either.
More than 300 flights have been cancelled and at least 25 airports, including Srinagar, have been temporarily shut for operations amid restrictions in the wake of the armed forces launching missile attacks on terror targets in Pakistan on Wednesday morning.
Jet Airways is pushing web sales to increase its revenue and cut distribution costs. The airline is selling 100,000 seats at a discount to drive this strategy.
Subsequent to a failed acquisition deal, Air Sahara, on Friday, filed a Rs 3,020 crore (Rs 30.2 billion) claim against Jet Airways for non-completion of the agreement.
The agreement between the two airlines came on the second day of the four-day state visit of Mukherjee to the country.
Private sector carrier Jet Airways on Tuesday said it has entered into an agreement with the US-based United Airlines for codeshare and frequent flier programme benefits for their customers.
On the high costs facing the Indian airline industry, Goyal said the factors included a depreciating rupee against the dollar, escalating jet fuel prices, high taxes and rising infrastructure costs.
Jet also recently announced plans to launch direct flights to Brussels this summer, launching itself as a direct rival to Air India on flights between India and Europe.
Rival airlines expect Jet Airways to restore some "sanity" in the pricing of tickets after the acquisition of Air Sahara.
Jet had planned to raise $400 million (Rs 2,000 crore) via equity investment through the Qualified Institutions Placements route from Foreign Institutional Investors.
Wadia Group-owned Go First Airways' (Go First) insolvency plea could trigger a 'momentum rally' in shares of rival airlines, Interglobe Aviation (parent company of IndiGo) and SpiceJet, as they look to gain bankrupt airline's market share, said analysts. On the bourses, shares of InterGlobe Aviation hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE in Wednesday's intra-day trade, before settling 4.5 per cent higher at Rs 2,164 apiece. Those of SpiceJet and Jet Airways, meanwhile, rallied up to 6 per cent in the intra-day trade, and ended 1 per cent and 5 per cent higher, respectively, following the development, which was announced post market hours on Tuesday.
Jet is believed to be in talks with leading private equity players.
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