As its promoters finalise a stake sale deal with Gulf carrier Etihad, labour unrest seems to be brewing in Jet Airways with its engineers wearing black bands to protest an alleged move to freeze salary hikes and the pilots deciding to meet on the same issue shortly.
The top-level exodus at Naresh Goyal-promoted Jet Airways continued on Friday, with chief financial officer and acting CEO Ravishankar Gopalakrishnan quitting.
"There was never a suggestion of Jet Airways having been warned of ever being barred from operating [in Canada] because of one or two illegal passengers on board our flights," said Chandrasekar Bala, general manager, Canada, Jet Airways. He was reacting to a recent front-page report in the Toronto Star.
In a path-breaking expansion bid, Jet Airways on Tuesday signed a deal with Airbus to buy ten A 330-200 and A 330-300 aircraft, with options to acquire ten more aircraft.
Qatar Airways is keen to buy equity in IndiGo if the Indian carrier offers 49 per cent stake to it, a top official has said as he sought the opening up of the Indian aviation market for established airline companies.
Jet Airways Ltd said on Friday it made a profit in the June quarter compared to a loss in the year-ago period, helped by a drop in fuel expenses.
A Jet Airways flight from Mumbai to London, with more than 300 people, triggered a major scare when it lost contact with the Air Traffic Control after getting intercepted by German fighter jets. The flight then had to be escorted by German Air Force fighter planes before it landed.
Leading carrier British Airways has posted a loss of 401 million pounds for the year ended March 31, 2009, reportedly its biggest loss in more than 20 years, primarily hit by reduced passenger numbers and high fuel prices.
Tiger operates Airbus A320s and was set up by SIA and Singapore's national investment firm, Temasek Holdings, in 2004.
South America-based Synergy Group, one of the suitors, has said slots at London's Heathrow airport are critical to the airline's operations and will decide on participating in the resolution only if it gets clarity. It also wants to form a new company with its assets, employees, and operating permit but minus all liabilities.
Though June-quarter performance was impressive, fuel price hikes and falling demand pose fresh challenges for the company.
Kardassis, who quit the airline in 2013, will advise Goyal and senior management on cost-saving and productivity improvement
A Nepalese private plane crashed and caught fire shortly after taking off from the Tribhuvan International Airport in Kathmandu on Wednesday, killing 18 people aboard, including a child, and seriously injuring the pilot -- the only survivor.
Jet Airways made a stand-alone profit of Rs 87.5 crore (Rs 875 million).
Sources said Sahara filed a case in the Bombay High Court a few days ago on non-payment of dues. According to sources, Jet was to pay Rs 900 crore to Sahara upfront, while Rs 137.5 crore was to be paid in yearly instalments over four years. Jet defaulted on the yearly instalment, they said. The source added that Jet's payout to Sahara in case of a single year's default could be Rs 550 crore.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
Six of these aircraft are currently on lease to Etihad Airways, set to start returning to Jetair's fleet in June
There is no immediate benefit for shareholders from the Etihad deal.
Pilots will strictly go by the roster and perform all "stabilised approach
Jet Airways had to shut down its no-frills subsidiary JetKonnect after the latter failed to perform.
The airline now has a total of 1,120 pilots of whom 88 are foreign pilots.
Jet Airways is keen to improve its market share
FIIs' stake in Naresh Goyal-owned Jet Airways stood at 7.10 per cent during the three months through September, compared to 6.38 per cent during the first quarter of this financial year.
A resurgent SpiceJet is spreading its wings and Vistara is set to challenge Jet on long-haul routes in the coming years.
The value of the Indian Premier League went up 6.5 per cent to USD 16.4 billion (around Rs 134,858 crore) in 2024, according to a report by American investment bank Houlihan Lokey.
Jet Airways, the country's top private carrier, could start its much-awaited US operations from August as the process of getting clearances from American authorities is moving on track.
Private carrier Jet Airways is re-working a comprehensive profitability plan sought by its foreign partner Etihad Airways, which completed a 24 per cent stake purchase in the Naresh Goyal-led carrier recently.
The company will retire part of the debt by way of sale and lease back of some its aircraft.
Increases seats in the premium segment, scraps loss-making domestic flights
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
The pilots' flying privileges have been withdrawn for leaving the cockpit unattended and thereby jeopardising flight safety, a senior DGCA official said on Tuesday.
Jet settled higher by 2.35 per cent at Rs 623.40 on the Bombay Stock Exchange.
The assurance to pilots came after a meeting between the two sides at the airline's headquarters in Mumbai on Wednesday, airline sources told PTI on Tuesday evening.
Air India (AI)'s rise could be at the expense of three "super-connector" hubs - Doha in Qatar, and Dubai and Abu Dhabi in the UAE - as the Indian passenger would any day prefer direct flights of their national airline that is providing excellent on-time service, Arved von zur Muehlen, chief commercial officer of Saudia Airlines, said on Thursday.
Saroj Datta speaks about his leaving Jet Airways.
The flight to Mumbai was flagged off by the Indian ambassador to Belgium and the European Union Dipak Chatterjee from the Brussels national airport on Monday morning.
Domestic carriers, including newly-launched AirAsia India and regional airline Costa too have lowered their fares through these offers
At her witty best, the television actress-turned-politician also said that thanks to that rejection, she got a job at McDonald's and the "rest is history".
A financial turnaround with the Etihad partnership and debt restructuring has not fully materialised.
The Delhi high court has directed SpiceJet to deposit "forthwith" Rs 75 crore that has to be paid to media baron Kalanidhi Maran and his Kal Airways towards interest on an arbitral award of Rs 578 crore. The high court said, admittedly, there is no modification of the February 13, 2023 order passed by the Supreme Court in the case, and hence it needs to be followed. "Since the judgment debtor (SpiceJet) had failed to pay an amount of Rs 75 crores to decree holder (Maran and Kal Airways), hence in terms of para 15 (ii) of the order dated February 13, 2023 of the Supreme Court, there is no other alternative except to call upon the judgment debtors to deposit the entire outstanding amount qua interest forthwith, thus is so directed.
