Industry’s revenue passenger kilometre (RPK) growth was also down 520 bps and overall load factor was down 260 bps.
Jet’s rivals, whose wings were clipped so far by limited airport infrastructure, are looking to make the most of this opportunity by expanding their fleet.
Jet Airways said on Monday that its non-executive and non-independent director Nasim Zaidi has quit the board stating personal reasons and time limitations. Nasim was
The limitations prevailing in the Indian aviation industry due to the grounding of Jet Airways should prove temporary as carriers are looking to add about
Both the airlines stopped international operations and went all-domestic before suspending operations, though in Jet’s case that happened for less than a week, while Kingfisher flew within the country for some months.
Jet needs an urgent cash infusion to survive. Its CEO Vinay Dube appealed to banks during the weekend for additional loans of Rs 1,000 crore.
According to the conditions in the bidding document, an investor needs to have a net worth of Rs 1,000 crore and allotted funds of Rs 1,000 crore more to invest in Jet.
The airline is believed to now be operating just 16 planes out of a fleet of 119. That is below the 20 required by Indian aviation regulators to fly overseas.
Jet Airways’ Employees, Ground Staff Gather At Headquarters To Enquire On Unpaid Salary, Job Security
The members have been asked to gather at 1:30 p.m by the All India Jet Airways Officers & Staff Association
Lenders have initiated the bidding process as Jet was unable to honour its debt obligations.