At the time of filing, Jet Airways was in a tailspin and heading into bankruptcy. That may have already happened by the time you read this. What concerns me here, however, is all of the angst-ridden hand-wringing – by politicians, the business press, commentators, and the public – that has accompanied the slow demise of […]
Day: April 20, 2019
No joy of flying! Jet Airways passengers wait for refunds
More than a day after India’s first private airline Jet Airways Ltd announced that it would temporarily cease operations amid a fund crunch, passengers across the globe have been left in the lurch. Selena Lester, 53, a resident of Bushey in England flew to India in the first week of April for a holiday. Lester […]
Adani Power withdraws offer to acquire KSK Mahanadi project in Chhattisgarh
Gautam Adani-owned Adani Power has withdrawn its offer to acquire the KSK Mahanadi project in Chhattisgarh, stating that the acquisition is unviable as Uttar Pradesh Power Corporation (UPPCL), one of its key customers, has decided to reduce tariffs for the procurement of electricity. KSK Mahanadi defaulted on bank loans worth Rs 21,760 crore as of […]
SpiceJet, Air India step in to clean up after Jet Airways
New Delhi/Mumbai: Budget airline SpiceJet Ltd and national carrier Air India Ltd have stepped in to stabilize India’s aviation industry and ease the pain from wage losses caused by Jet Airways (India) Ltd’s descent into insolvency and operational shutdown. SpiceJet is making all possible efforts to soften the blow to the aviation industry caused by […]
Who’s lying? PM Modi or PSU banks? Vijay Mallya takes swipe at NDA govt
A day after a UK judge refused to dismiss an order freezing nearly 260,000 pounds ($337,730) in one of his London bank accounts, embattled liquor tycoon Vijay Mallya on Thursday questioned the SBI-led consortium of public sector banks pursuing him through the courts to recover dues they claim are owed to them. In his latest […]
Rivals see runways of opportunity as Jet Airways suspends operations
The suspension of Jet Airways flights has opened new opportunities for competition such as Air India, SpiceJet, IndiGo and AirAsia India. These airlines are ready to fill in the gap, especially in metros, by adding flights both to international and domestic destinations. Air India chief Ashwani Lohani, for instance, has offered to take five grounded […]
Air India offers special fares for crisis-hit Jet Airways’ passengers
Air India is offering special fares to passengers affected by Jet Airways grounding and has sought to lease five Boeing 777 planes from the airline to mount additional flights to London, Delhi, and Singapore. “As a gesture of goodwill and to mitigate hardship of Jet’s stranded passengers at international stations, Air India will be offering […]
Air India chief meets SBI chairman over leasing Jet planes
MUMBAI: Air India chairman Ashwani Lohani held preliminary talks with his State Bank counterpart Rajnish Kumar in the Capital Friday on the national carrier’s interest in leasing five Boeing 777s from the now-grounded Jet Airways, sources close to the development said. The meeting lasted for over more than an hour at the Airlines House, the […]
Jet Airways’ grounding leaves tourism players a worried lot
Mumbai: The grounding of Jet Airways has left the tourism industry a worried lot as it has led to an average 25% spike in airfares across the sectors leading to massive hotel cancellations, says industry experts. Some key sectors like Mumbai-Hyderabad, Mumbai-Delhi and Delhi-Mumbai have seen the fares flying by 62%, 52% and 49%, while […]
Leasing Jet’s planes: Air India chairman likely to meet SBI chief today
Air India chairman Ashwani Lohani is likely to meet State Bank chairman Rajnish Kumar Friday over the national carrier’s plans to lease five wide-body Boeing planes from the now grounded Jet Airways. Weighed down by a mountain of debt and falling revenue, Jet Airways announced suspension of its entire operations from Wednesday night and owns […]
SpiceJet hires 500 Jet Airways employees, including 100 pilots
Mumbai: Budget airline SpiceJet Ltd on Friday said it has already absorbed over 500 Jet Airways employees, including 100 pilots, and is open to induct more as it adds new planes and flights to fill the gap left by the grounded airline in India’s aviation space. The Gurugram-based airline has already announced induction of 27 […]
Jet Airways issues gag order, asks employees not to speak with media
The grounded Jet Airways has issued a gag order to its employees advising them to refrain from speaking with external stakeholders. An internal mail accessed by IANS suggests that talking with external stakeholders especially the media might impact the bidding process for airline’s stake sale. “We are currently at a critical stage of our bid […]