Jet Airways Problems Refuse To Subside As It Cancels All Its International Flights
The cash-starved airline on Thursday suspended all its international flights for the night and the following morning.
Jet Airways is going through a rough-ride. The cash-starved airline on Thursday suspended all its international flights for the night and the following morning. Around 10 more flights were forced out of the fleet.
The DGCA had earlier this week asked other airlines to enhance their flight availability to keep the airplane prices stable for the people. In related developments, its board met in Mumbai and discussed "operational" issues, while airlines' strategic partner Etihad Airways submitted initial bids for higher stake in the crippled carrier.
Photo; Reuters
If it fails to rescue emergency funds of Rs 1,500 crore from the lenders, it will be the seventh airline to shutter operations in the past five years as operators like Air Pegasus, Air Costa, Air Carnival, Air Odisha, Air Deccan, and Zoom Air.
¡°The stake sale process is on and even if the right bidder is found offering the right price, the process will take at least three to four months to reach its logical conclusion. There is no way the airline can run for that long and wait for the new owner to pump in funds,¡± a person aware of the developments told TOI.
On Thursday, the airline was operating just 14 aircraft 7 wide body (six Boeing 777 and one Airbus A330) and 7 Boeing 737s and turboprop ATRs. Reportedly, Indian airlines with at least 20 planes in its fleet have been allowed to fly abroad.
Jet said its Mumbai-Kolkata, Kolkata- Guwahati and Dehradun-Guwahati-Kolkata flights stand cancelled till further notice due to "operational reasons." As of Thursday noon, the airline had just 14 planes-- way down from 123 planes in operations till a few months back.
Ground staff of Jet Airways demonstrate at Mumbai Airport. They say, "We are not holding a protest, we just want to know about our salaries. We have not received our salary. We're facing a lot of problem in our day to day life. We want clarity as to what is happening in the mgmt" pic.twitter.com/v7QHXSP1Or
¡ª ANI (@ANI) April 12, 2019
The lenders are offering a minimum of 32.1 percent and a maximum of 75 percent equity in the carrier to any investor either individually or in consortium. Meanwhile, the groundstaff of Jet Airways assembled at the Chhatrapati Shivaji Terminus airport with placards and posters. They said that they were not holding any protests, they just wanted to know about their salaries. Earlier, Jet Airways pilots had threatened to go on strike from April 01 if their salaries were not given on time.
Apart from writing news, Kriti is either listening to some good music or eating some good food. A lover of horror movies and adventurous rides, she is keen on making new friends.
