"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.
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.
'There will be no flying unless the company pays us substantial salaries and provides a road map,' the National Aviators Guild, the pilots union, said in a message to its members.
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
Highly-paid pilots should not be allowed to unionise.
RPI-A chief Ramdas Athawale was on Tuesday allegedly not allowed to board a Jet Airways aircraft.
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.
"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.
Naresh Goyal becomes the country's first airline promoter to receive foreign investment.
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.
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.
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.
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.
Flight cancellations and subsequent grounding of Jet Airways adversely impacted seat capacity in the domestic market which also resulted in fares going up.
Airline now financially more stable but still in the doldrums as the operating environment remains tough.
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.
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
Yogvedanta Poddar, in his 20s, was being interrogated at the Netaji Subhas Chandra Bose International Airport police station to ascertain his motives.
The airlines is in talks with Oman Air and Etihad.
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).
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.
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.
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 trails of mega-mergers, tailwinds of expanding fleets, flights and airports will dot the fast-growing Indian aviation firmament in 2025, though the dark clouds of supply chain woes will persist longer. Also, new airline takeoffs, the future trajectory of revised norms to tackle pilot fatigue and efforts to reduce carbon emissions will be on the radar.
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.
The Securities and Exchange Board of India has cleared the initial public offer of Jet Airways.
Jet Airways' pilots won't get much sympathy, but the management hasn't quite covered itself in glory either.
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 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.
The agreement between the two airlines came on the second day of the four-day state visit of Mukherjee to the country.
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.
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.
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.
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.
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