Things are fast deteriorating for troubled carrier Jet Airways with lenders and stakeholders yet to formalise a funding plan as a key player, Etihad, is still to come on board. On Tuesday, Jet submitted to the Directorate General of Civil Aviation (DGCA) a curtailed flight schedule of 603 domestic and 382 international per week, a decline of 77% from 4,200 weekly flights it operated about two months ago.
The schedule was arrived at after a review meeting was held between the DGCA and Jet Airways officials in New Delhi. According to the assessment made by the aviation regulator, the airline has only 41 aircraft of its original 119 fleet, available for operations, which is a reduction of 65%.
Tuesday’s meeting by the DGCA was held on the directions of civil aviation minister Suresh Prabhu to review the grounding of planes by Jet, advance bookings by the airline and subsequent cancellations and refunds to be made available to the passengers as per existing norms.
