Jet will, however, continue to pay the sale-linked productivity bonus to them.
On September 6, the airline informed senior employees that their salaries would be paid in two instalments till November.
Passengers can book the combined plane-train journey as a single ticket.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
A Jet Airways Boeing 737 with 89 passengers on Thursday had a miraculous escape after it was involved in a near-collision with a formation of Sukhoi-30 Air Force fighter jets over the airport in Rajkot.
Jet Airways returns to profit after seven straight quarterly losses
Jet Airways, the nation's largest private airline, saw its unpaid jet fuel bills rise by over 65 per cent to Rs 849 crore (Rs 8.49 billion) in the first six months of the 2011-12 financial year, while the dues of Kingfisher Airlines grew by less than 4 per cent during the same period.
At the NSE, the stock zoomed up by 8 per cent to Rs 444.
Aircraft reconfiguration and Kingfisher's slide help the airline consolidate its top spot, but widening losses and IndiGo's rapid rise are big concerns.
The Jet deal would be the first foreign investment into India's aviation market.
The Bombay high court on Monday granted interim bail for two months on medical grounds to Jet Airways founder Naresh Goyal, who has been arrested by the Enforcement Directorate (ED) in a money laundering case. A single bench of Justice N J Jamadar said Goyal shall pay a surety of Rs 1 lakh and not leave Mumbai without prior permission from the trial court. "The applicant (Goyal) shall be released on interim bail for a period of two months. He shall abide by all conditions imposed," the bench said.
Rejecting allegations of stashing away unaccounted money in Swiss accounts, Jet Airways on Friday said there is no account in the name of its Chairman Naresh Goyal in HSBC Bank, Geneva, though he is entitled to have bank accounts outside India as he is a Non-Resident Indian.
Cheering the move, shares of Jet opened the day on a bullish note and further jumped 7.26 per cent to Rs 414.70 on the Bombay Stock Exchange.
Jet Airways has clocked a net profit of Rs 53 crore (Rs 530 million) in the fourth quarter of 2008-09.The private air carrier had posted a loss of Rs 221 crore (Rs 2.21 billion) in the year-ago period.
India's largest private carrier Jet Airways will report a full-year loss for 2007-08 fiscal and break even only in the financial year ending next March, said its chairman Naresh Goyal. Earlier in January, Jet Airways had reported a net loss of Rs 91.12 crore (Rs 911 million) for the quarter ended December 31, 2007 as against net profit of Rs 40.04 crore (Rs 400 million) for the year-ago period. Goyal expects Jet Airways to break even in the current fiscal, ending Mar 31, 09.
Jet Airways, IndiGo have gained market shares as SpiceJet cancels flights.
During the January-July period, passenger growth jumped 21.13 per cent to 455.78 lakh.
Jet Airways in which Abu Dhabi's Etihad is buying a stake, reported its worst quarterly loss on record as carriers in Asia's third-biggest economy battle high fuel costs and taxes.
Government sources said the airline is already considering the proposal and negotiations are likely to begin soon.
The order came days after Goyal told the court that he had "lost every hope of life and it would be "better if he died in jail" than living in such a situation.
Air India launched a short term 'SpringSale' of up to 50 per cent on all domestic sectors of its network, which is up for sale till Friday and valid for travel between February 21 and April 15.
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 company solf the frequent flyer business.
Government has ordered prosecution against Jet Airways for alleged violation of various sections of the Companies Act, 1956, on account of financial transactions, including dividend paid out of profits.
Of 1,400 pilots the airline has, 200 have quit in the past few months because of salary delays.
Jet Airways founder Naresh Goyal's cancer was at a preliminary stage and not life threatening, a special court said here on Thursday while refusing to grant him interim bail on medical grounds. The court, however, permitted Goyal, arrested in a money laundering case, to undergo cancer treatment at a hospital of his choice for two months. Goyal (74), who is lodged in Arthur Road jail in central Mumbai, had sought to be released on interim bail to undergo treatment for cancer.
The septuagenarian, who turned teary-eyed, submitted that he misses his wife Anita very badly and said she is in the advanced stage of cancer, according to court records.
Jet Airways offers a huge packages toward arrears to pilots.
The country's largest private air carrier Jet Airways today posted a net loss of Rs 101.22 crore (Rs 1.01 billion) for the third quarter of 2011-12 on account of rising prices of aviation turbine fuel and rupee depreciation.
Current FDI norms allow a foreign airline to hold up to 49 per cent in a domestic carrier.
The agency filed its affidavit in response to Goyal's habeas corpus (produce the person) petition in which he claimed he was illegally arrested by the ED in the case.
The Supreme Court on Thursday directed Jalan-Kalrock consortium, the new owners of the cash-strapped Jet Airways, to deposit Rs 150 crore in SBI's escrow account by January 31, saying failure to do so will mean that the consortium is not in compliance with the terms of the resolution plan for reviving the airline. The top court, meanwhile, also refused to allow the separate plea of the Jet Aircraft Maintenance Engineers Welfare Association seeking payment of provident fund and gratuity dues, observing if additional money is awarded, the resolution plan will become "unworkable". The consortium, as per the lawyers for the workmen, has to pay over Rs 200 crore towards dues on account of PF and gratuity.
The sudden massive cancellations of Jet have put travel agents and customers in jeopardy
The Centre on Tuesday urged the Supreme Court not to hear this week the pleas on the vexed legal question of whether a husband should enjoy immunity from prosecution for the offence of rape if he forces his wife, who is not a minor, to have sex.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
IndiGo's passenger load factor, at 67% in July, fell six percentage points from the same month last year.
The airline has been defaulting on salaries for some time, making partial payments in some cases or not paying at all, as it continues to lose money mainly in domestic routes where it can't raise fares facing competition from low-cost airlines.
After four-odd years of focusing on reducing debt, the series of deals with Etihad could finally get it out of the spiral.
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