India's international carrier Air India has come to the relief of Jet Airways passengers, after Jet had to cancel over 130 flights when 400 pilots failed to show up for work.
Jet Airways chairman Naresh Goyal on Tuesday met civil aviation secretary Madhavan Nambiar on Tuesday against the backdrop of pilots of the private carrier refusing to report to work to protest against the sacking of two of their senior colleagues.
Jet Airways, India's largest airline in terms of marketshare, is looking at an equity dilution, said Founder and Chairman Naresh Goyal.
India's largest private sector airline Jet Airways has postponed its $400 million (Rs 1600 crore) rights issue slated for March this year by three or four months, the third postponement since the board approved it in June, owing to poor market sentiment.
'Shouldn't the DGCA ensure both safety and convenience of passengers?' 'And convenience has been a casualty as nobody knows which Jet flight would be grounded next, throwing passengers' plans in disarray,' says Nivedita Mookerji.
'Shouldn't the DGCA ensure both safety and convenience of passengers?' 'And convenience has been a casualty as nobody knows which Jet flight would be grounded next, throwing passengers' plans in disarray,' says Nivedita Mookerji.
Naresh Goyal-owned private airline Jet Airways is understood to be considering providing meals on its all economy service Jet Konnect.
US-based UPS on Thursday opened its first store in Mumbai. This is the first store outside North America.
Jet Airways is working on a plan that will entail a reduction in flight duty hours of its unconfirmed cabin crew (that will reduce their take-home salary), withdrawing some perks and downgrading entitlements like hotels as part of a package to reduce manpower costs. Perks on the block include a weight allowance (given to cabin crew if they maintain a certain body weight) and allowances for staying abroad amongst others.
Value-carrier JetLite, formerly full-service airline Air Sahara, which was bought by Naresh Goyal last year, will offer a voluntary separation scheme to 750 employees who have been with the airline for one year or below, Chief Operating Office Rajiv Gupta confirmed on Friday.
Come mid-April, India's largest private airline, Jet Airways, will don a fresh look. The Naresh Goyal-promoted airline will have fresh internal and external livery for aircraft to reflect its new corporate image.
Amidst the ongoing war of words between the Ambani brothers over the issue of pricing of gas, Mukesh Ambani, chairman, Reliance Industries Ltd, on Tuesday met TKA Nair, Principal Secretary to the Prime Minister, at the latter's office in the South Block.
Giovanni Bisignani, CEO of International Air Transport Association, said Delhi and Mumbai airports were one of the worst contributors to the crisis, for their 207 per cent hike in charges. "There is no room for this nonsense in our future. When demand drops, suppliers cannot divide the same costs among fewer customers. The shape of everything must change," he declared.
Jet Airways moved the Supreme Court on Wednesday seeking to transfer all ongoing arbitration cases filed by its failed acquisition target Air Sahara in the Lucknow district court to the Mumbai high court, raising jurisdiction issue.
The muti-million dollar deal for takeover of Air Sahara by India's largest private airline Jet Airways broke down late Wednesday night.
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.
The carrier, which fired 1,900 employees in October only to reinstate them under pressure from various quarters, has made the request to pilots, cabin crew and engineering staff, a source in the airline said on the condition of anonymity. It is, however, not clear what the airline proposes to do if the employees do not agree for a voluntary pay cut.
The company's net sales, however, declined at Rs 2722.68-crore (Rs 27.22 billion) during Q3 FY 10 as against Rs 2908.87-crore (Rs 29.08 billion) in the same period last year.
Jet is believed to be in talks with leading private equity players.
Less than 48 hours after Jet Airways announced the retrenchment of 1,900 employees, the airline has decided to reinstate all the employees. Jet Airways Chairman Naresh Goyal, in the late evening press conference on Thursday, requested all the sacked employees to come back to work from Friday.
After all, the employees did not flock to the Shiv Sena-run union but to Raj Thackeray despite the fact that many of the sacked employees were not Marathis. These non-Maharashtrians, going by the Raj Thackeray-led Maharashtra Navnirman Sena, were those who came and usurped the local's share in Mumbai's and Maharashtra's economy.
National Aviation Company, the name of the proposed merged entity of Air India and Indian Airlines, plans to launch a value carrier to take on the challenge from JetLite and Air Deccan.
Private airline Jet Airways is in talks with Lufthansa Group to float a wholly owned subsidiary for dedicated cargo operations.
Confirming this, Jet Airways' CEO, Wolfgang Prock-Schaeur, said, "In the process of integrating the airlines, which is a must to keep JetLite afloat, there will be a shift of certain employees from JetLite to Jet and the workforce for both the airlines will be combined."
Jet Airways chairman Naresh Goyal said his airlines, if given permission, would start off by flying to Southeast Asian countries.
India will require 1,740 planes over the next 20 years.
Jet Airways has convened a board meeting on Friday, May 23, which is expected to consider the future of executive director Saroj K Datta, who, sources said, may exit the airline after May 31. Chairman Naresh Goyal, who was in Mumbai last week, reportedly discussed the issue with Datta, a veteran of over 46 years in the airline industry.
"With the regulatory approval process now finalised for the new route, we are very pleased to enter this new stage of Jet Airways' North American expansion," Jet Airways founder and chairman Naresh Goyal said.
Jet said apart from Hariharan, AS Bedi and S Bandula are leaving the company as a result of better career prospects and family commitments. While refusing to be drawn into specifics, Jet pointed out that attrition was a common phenomena in any business enterprise and the growing aviation industry in India cannot be excluded.
India 's airline sector is expected to report losses of $1bn for the year ended last month - double that of a year earlier, according to the head of one of the country's biggest airlines. Naresh Goyal, founder and chairman of Jet Airways, said he expected high costs and fierce price wars to prompt more consolidation in the industry and Jet was ready to seize the opportunity to acquire rivals in India and overseas.
Naresh Goyal-owned Jet Airways launched its first flight for Hong Kong from Chhatrapati Shivaji International Airport (CSIA) in Mumbai on Monday. Jet Airways is the first private carrier to have started a service to Hong Kong from India.
"The Chinese government has never allowed a third party to operate to the US out of China. This is for the first time that our government negotiated with them to do so. We hope to get the permission from China soon," Jet Airways Chairman Naresh Goyal told reporters. With the launch of San Francisco flight from May 5, Jet Airways would become the first private carrier to operate a non-stop daily flight to Shanghai from country's financial hub of Mumbai.
A Jet Airways spokesperson confirmed the pay cuts but said that the move was only temporary and once the situation improved, it would do a revision. The salary cuts range from 5 to 25 per cent and include the top management. In addition, other perks like car facilities and car maintenance allowances have also been withdrawn from May onwards, the source said.
India's largest private carrier Jet Airways said on Tuesday it expects to more than double its revenues to $3 billion in the next three years. The company on Monday announced its total income rose over 26 per cent to Rs 2,254.17 crore (Rs 22.54 billion) in the second quarter this fiscal from Rs 1,787.33 crore (Rs 17.87 billion) during the same period last fiscal.
The liquidity crunch in global markets following the crisis in the US sub-prime mortgage business has prompted Jet Airways to postpone its $ 400 million rights issue to finance the airline's aircraft acquisition by two or three months.
JetLite, which was acquired by Jet Airways for Rs 1,450 crore, is operating three of its seven Canadian-built Bombardier airplanes. JetLite has a total 24 aircraft, including Boeing B737s.
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