Jet Airways pilots seek government help to recover dues
NEW DELHI: Cash-strapped Jet Airways pilots’ union has written to the government, seeking its help in recovering their pending salaries along with the accumulated interest. Jet Airways currently has 1,900 pilots on its rolls. In a letter written to Minister of Labour and Employment Santosh Gangwar, the National Aviators Guild (NAG), which represents the majority […]
Didn’t receive any reference on relaxing rules in Jet Airways matter: Sebi
NEW DELHI: Markets watchdog Sebi on Thursday said it has not received any reference on relaxation in rules regarding Jet Airways. The regulator’s statement comes amid reports that relaxations have been sought by Gulf carrier Etihad for infusing additional funds into crisis-hit Jet Airways, which is listed on the exchanges. In its brief statement issued […]
Naresh Goyal ready to invest Rs 700 crore in Jet Airways
NEW DELHI: Jet Airways chairman Naresh Goyal is ready to invest up to Rs 700 crore in Jet Airways on the condition that his stake does not fall below 25%. Goyal’s offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds […]
Jet Airways in talks with SBI for Rs 1,500 crore loan
NEW DELHI: Loss-making carrier Jet Airways is in discussions with the State Bank of India for raising Rs 1,500 crore short-term loan to meet its working capital requirement and some payment obligations, a source said. Jet Airways strategic partner and Middle-east carrier Etihad, which holds 24 % stake in the Indian full service carrier, is […]
Jet Airways announces festive discount on domestic and international fares
NEW DELHI:Private carrier Jet Airways, India’s premier, full-service international airline, Sunday announced up to 30% discount on its domestic and international fares as part of its limited period festive season sale offer. The Christmas fare sale starts from tickets under the offer can be availed across the airline’s all booking channels till midnight on Tuesday, […]
SBI orders forensic audit of Jet Airways’ books
NEW DELHI: India’s largest lender, State Bank of India (SBI), has ordered a forensic audit of Jet Airways’ books for the period between April 2014 and March 2018, according to sources. SBI, the lead banker to the airline’s over Rs 8,000 crore loans, has mandated EY to conduct the forensic audit of its books, which […]
Jet Airways cuts base fares by up to 30% for 7 days
NEW DELHI: Private carrier Jet Airways has reduced its base fares by up to 30% for both domestic and international travel across its network under a limited period offer, the airline said on Wednesday. The seven-day offer, which commenced on Wednesday, is applicable to both business and economy class bookings as well as for some […]
Jet Airways to close services on seven Gulf routes amid financial woes
NEW DELHI: Struggling to keep it afloat in the wake of a dismal financial performance in the last three quarters, Jet Airways is withdrawing its flight services on as many as seven Gulf routes from this month, a source said. The Naresh Goyal-controlled airline will not operate as many as 39 services per week to […]
Jet Airways continues with incremental layoffs to cut cost
NEW DELHI: Crisis-hit Jet Airways (India) Ltd continues to use layoffs in small chunks as one of the means to reduce cost with the carrier handing over pink slips to around 16 more employees, a person familiar with the development said on Monday. These employees were working as ground staff in Jet Airways’s Kochi and […]
IndiGo, SpiceJet, Jet Airways face credit rating revisions as costs spiral
NEW DELHI: Listed carriers — IndiGo, SpiceJet and Jet Airways — have seen this month downgrading of credit rating assigned to some of their loan facilities as they grapple with rising expenses and limited room to hike fares amid intense competition. Despite being one of the fastest growing domestic aviation markets in the world, local […]
Jet Airways receives its fifth Boeing 737 MAX
NEW DELHI: Jet Airways has received its fifth Boeing 737 MAX, as part of its fleet modernization plan in line with its commitment to offer its guests a considerably superior and differentiated flying experience. Since the induction of the airline’s maiden 737MAX (registered as VT-JXA) on 28th June, 2018, another four _ have joined its […]
Jet Airways shares tank 5% as the firm delays part payment of August salaries
MUMBAI: Shares of Jet Airways tumbled nearly 5% on Thursday as the company delayed part payment of August salaries to pilots and senior management personnel. Also, the decision to impose 5% customs duty on ATF also hit sentiment. On Wednesday, the government raised import duties on ATF and 18 other items with an aim to […]
Jet Airways offers options for lowest fares
NEW DELHI: Passengers travelling in economy class of Jet Airways flights can choose a travel plan with or without meals, according to the airline. The full service carrier has introduced “unbundled fares in ‘Light’ and ‘Deal’ categories” for domestic flights. In a release, the airline said it is introducing “options for lowest fare categories, enabling […]