Can't sleep at night: Despair over jobs as Jet Airways grounded | See photos
5 years, 8 months ago

Can't sleep at night: Despair over jobs as Jet Airways grounded | See photos

India Today  

Bhoja Poojari has handled baggage for India's Jet Airways Ltd since it began flying nearly 26 years ago. Jet Airways CEO Vinay Dube told employees on Wednesday that the sale would take time and could throw up more challenges, but he was confident the airline would fly again. "Management never gives us a clear picture," airline union leader Chaitanya Mainkar shouted during a protest at Mumbai's international airport on Friday where employees chanted slogans and waved posters that read "Save Jet Airways, Save Our Family." "At least now we know the talks about caring for employment, creating jobs is all an eyewash," Captain Asim Valiani, vice president of the National Aviator's Guild representing Jet pilots, told Reuters after the shutdown.

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History of this topic

Jet Airways relaunch hits turbulence: CEO confirms salary cut, leave without pay
2 years, 1 month ago

Jet Airways relaunch hits turbulence: CEO confirms salary cut, leave without pay

Hindustan Times  

Once a celebrated airline, Indian carrier Jet Airways has hit another roadblock ahead of its relaunch, leaving many of its employees with reduced salaries and on leave without pay. ‘Team working to revive’ Clearing the air about numbers and figures circulating on the internet, Kapoor said that only a small portion of the total employees – less than 10 per …

Jet Airways slips into memory as a loved brand after an inept SBI-led consortium forces carrier to crash-land onto bankruptcy court
5 years, 6 months ago

Jet Airways slips into memory as a loved brand after an inept SBI-led consortium forces carrier to crash-land onto bankruptcy court

Firstpost  

Exactly two months ago, Jet Airways took the decision to ground their flights after running out of cash. To be honest, the banks have been as clueless about their approach towards Jet Airways as the cash-strapped airline has been since the time they defaulted on the loans. So, SBI came out stating, “no problem, we will soon find a buyer …

Now, employees and regular flyers come up with a plan to give Jet Airways wings
5 years, 8 months ago

Now, employees and regular flyers come up with a plan to give Jet Airways wings

Live Mint  

New Delhi: After a section of employees floated the proposal to take over management control of the grounded Jet Airways and arrange up to ₹3,000 crore from external investors, a group of frequent flyers of the cash-strapped airline has approached the key lenders, including State Bank of India, ICICI Bank and Punjab National Bank, to submit the 'Revival of Jet …

Jet pilot union writes to PM Modi, seeks probe into airline's financial crisis
5 years, 8 months ago

Jet pilot union writes to PM Modi, seeks probe into airline's financial crisis

India Today  

"We are running out of time and losing our assets. In the letter, Chopra said: "We urge you to kindly intervene in the matter and order a probe to establish whether a larger conspiracy was at play or of any collusion between SBI and Etihad, as the only one decimated here, have been the Jet Airways employees and Jet Airways …

Jet Airways CEO tells staff no word from promoters, banks on salaries
5 years, 8 months ago

Jet Airways CEO tells staff no word from promoters, banks on salaries

Live Mint  

In a clear indication of lack of support from the lenders on further funding, Jet Airways chief executive Vinay Dube has said it is painful that there is no commitment on the part of the all stakeholders on paying salaries to the employees which are due in a few days. The airline suspended operations after the SBI-led consortium of lenders …

Jet Airways will do everything to revive airline: CEO
5 years, 8 months ago

Jet Airways will do everything to revive airline: CEO

India Today  

India's Jet Airways is constantly engaging with the government and lenders for a resolution of the current debt crisis and will not leave any stone unturned to revive the airline, its chief executive officer Vinay Dube told television channel ET Now in an interview. "But I would like to think that a flying Jet Airways makes definite sense for them …

Jet Air hostess, who became face of Brussels attack, hopes for airline's swift revival
5 years, 8 months ago

Jet Air hostess, who became face of Brussels attack, hopes for airline's swift revival

India Today  

Nidhi Chaphekar, the Jet air hostess who became the face of Brussels airport bombings in 2016, hopes for airline's swift revival. Speaking about the grounding about the airline from her residence in Mumbai, she said that employees are optimistic that Prime Minister Narendra Modi would "work out some magic" and save the airline. "Prime Minister Narendra Modi is a man …

Jet Airways crisis: Banks unions want lenders to offer special loans to airline's over 22,000 employees
5 years, 8 months ago

Jet Airways crisis: Banks unions want lenders to offer special loans to airline's over 22,000 employees

Firstpost  

Last week bank unions had written to Prime Minister Narendra Modi demanding the government take over the carrier to secure the jobs of its employees Mumbai: With an uncertain future staring at over 22,000 employees of the grounded Jet Airways, bank unions Monday suggested offering special loans to them to tide of their financial crisis arising from non-payment of salaries. …

SpiceJet, Air India step in to clean up after Jet Airways
5 years, 8 months ago

SpiceJet, Air India step in to clean up after Jet Airways

Live Mint  

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 Ltd’s descent into insolvency and operational shutdown. Air India has, on its part, volunteered to temporarily use some of Jet Airways’ grounded planes on key international routes. Air India …

Bank unions write to PM Modi, want govt to take over Jet Airways
5 years, 8 months ago

Bank unions write to PM Modi, want govt to take over Jet Airways

India TV News  

Bank unions Friday urged Prime Minister Narendra Modi to take over grounded Jet Airways to secure the future of the 22,000-odd employees of the carrier. In a letter to Modi, the All-India Bank Employees Association also said government must ensure that banks are not forced to lend to the crippled airline. "Everyone is looking at the banks to bail out …

Jet Airways issues gag order over 20,000 employees, cautions talking to media will affect bidding process
5 years, 8 months ago

Jet Airways issues gag order over 20,000 employees, cautions talking to media will affect bidding process

Firstpost  

The grounding of India’s oldest private airline company sent shock waves among its 20,000-odd employees, of whom Jet Airways owes over three months salaries to 15 percent of the staff. The management of Jet Airways has reportedly asked thousands of its disgruntled employees to not speak to any outsider including their media about their problems as it may affect the …

’Can’t sleep at night’: Despair over jobs as Jet Airways grounded
5 years, 8 months ago

’Can’t sleep at night’: Despair over jobs as Jet Airways grounded

Live Mint  

Mumbai: Bhoja Poojari has handled baggage for India's Jet Airways Ltd since it began flying nearly 26 years ago. Jet Airways CEO Vinay Dube told employees on Wednesday that the sale would take time and could throw up more challenges, but he was confident the airline would fly again. "Management never gives us a clear picture," airline union leader Chaitanya …

Govt should not rescue cash-strapped Jet Airways, it's not in State's interest to run airlines
5 years, 8 months ago

Govt should not rescue cash-strapped Jet Airways, it's not in State's interest to run airlines

Firstpost  

The operational creditors of Jet Airways, everyone from its service providers to its workers, can still take the airline to the bankruptcy court. India’s oldest private airline, Jet Airways, has been grounded, after having been in operation for close to 26 years. The potential investors will need time to go over the books of Jet Airways and time is something …

Jet Airways shuts down operations: A timeline of how the 'Joy of Flying' airline's dreams soured
5 years, 8 months ago

Jet Airways shuts down operations: A timeline of how the 'Joy of Flying' airline's dreams soured

Firstpost  

Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India’s largest private carrier. Beleaguered carrier Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India’s largest private carrier. 27 August: Jet posts June-quarter loss, …

WATCH | Emotional moment when the last Jet Airways flight left airport as airline nosedived
5 years, 8 months ago

WATCH | Emotional moment when the last Jet Airways flight left airport as airline nosedived

India Today  

After 25 years of treating Indians to the "joy of flying", Jet Airways, once the second-largest airline in the country, stopped all operations last night. At 10:19 last night, Jet Airways Flight 9W2502 pushed back from a terminal gate at the Amritsar airport. But for now, Jet Airways has hit deadly turbulence and has become the seventh Indian airline to …

Jet Airways flight takes off one last time. Heartbroken flyers share best memories
5 years, 8 months ago

Jet Airways flight takes off one last time. Heartbroken flyers share best memories

India Today  

We are all aware of the financial problems that Jet Airways was going through. The tweet that is captioned, "With deep sadness and a heavy heart we would like to share that, effective immediately, we will be suspending all our domestic and international flight operations," has evoked all kinds of emotions among the frequent fliers of the airline. More: https://t.co/SaQ2iwIBRJ …

Jet Airways crisis: All domestic, international flights cancelled with immediate effect
5 years, 8 months ago

Jet Airways crisis: All domestic, international flights cancelled with immediate effect

India TV News  

All Jet Airways flight, domestic and international, cancelled with immediate effect. With the lenders rejecting a lifeline of Rs 400 crore on Wednesday, Jet Airways was left with no other option but to ground operations at least temporarily. The official announcement of grounding of operations made on Wednesday evening after the Jet Airways board had Tuesday authorised chief executive Vinay …

Indian airline Jet Airways collapses as banks pull the plug
5 years, 8 months ago

Indian airline Jet Airways collapses as banks pull the plug

CNN  

New Delhi CNN Business — Jet Airways has finally been grounded. “This has been a very difficult decision but without interim funding, the airline is simply unable to conduct flight operations,” Jet Airways said in statement. Jet Airways said it was informed late Tuesday by a consortium of lenders,led by the government-run State Bank of India, that they would not …

Jet Airways lenders refuse more funding as airline risks shutdown
5 years, 8 months ago

Jet Airways lenders refuse more funding as airline risks shutdown

Live Mint  

Mumbai: Lenders to Jet Airways Ltd have refused funding to the cash-strapped carrier, according to people familiar with the situation, forcing the nation’s oldest surviving private airline to consider a temporary shutdown. Jet Airways, which broke into the monopoly of state-run Air India Ltd in the early 1990s, went in a tailspin after a slew of budget airlines started offering …

Jet Airways crisis: Mumbai-Delhi oneway airfare touches Rs 32,000 per ticket
5 years, 9 months ago

Jet Airways crisis: Mumbai-Delhi oneway airfare touches Rs 32,000 per ticket

India TV News  

Amid an unprecedented crisis in Jet Airways, airfares in India are continuously skyrocketing ever since the cash-strapped airline suspended its domestic and international flights. There was chaos at the Mumbai airport due to the suspension of Jet Airways flights," he said. Jet Airways is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals …

Jet Airways crisis: Pilots body appeals SBI to release Rs 1,500 crore, asks Narendra Modi to save 20,000 jobs
5 years, 9 months ago

Jet Airways crisis: Pilots body appeals SBI to release Rs 1,500 crore, asks Narendra Modi to save 20,000 jobs

Firstpost  

Jet Airways is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash Mumbai: Jet Airways pilots body, the National Aviator’s Guild, Monday appealed the State Bank of India to release Rs 1,500 crore, which was proposed to be infused in the ailing carrier as part of …

Over 1,000 Jet Airways pilots not to fly from Monday due to unpaid salaries
5 years, 9 months ago

Over 1,000 Jet Airways pilots not to fly from Monday due to unpaid salaries

Live Mint  

More than a thousand pilots of India's debt-laden Jet Airways will not fly from on Monday as they have not been paid salaries for the past three months, the President of the National Aviators Guild said on Sunday. An urgent meeting to discuss the Jet situation was held at the prime minister's office on Friday, which was also attended by …

Jet Airways crisis deepens as 1,100 pilots vow to not fly, govt calls urgent meeting
5 years, 9 months ago

Jet Airways crisis deepens as 1,100 pilots vow to not fly, govt calls urgent meeting

India Today  

Around 1,100 pilots belonging to the National Aviator's Guild of India have threatened to stop flying for cash-strapped airline Jet Airways starting Monday, April 15. There is widespread worry over the financial situation of the airline, as several employees including some pilots protested against the airlines on April 13 over non-payment of salary. Lead lender SBI has been looking for …

Jet Airways union seeks FIR against Naresh Goyal, CEO, SBI chief over salaries
5 years, 9 months ago

Jet Airways union seeks FIR against Naresh Goyal, CEO, SBI chief over salaries

Live Mint  

Mumbai: The employees union of Jet Airways Ltd, which is facing its worst crisis, has sought to register first investigation reports against the airline's founder Naresh Goyal, chief executive officer Vinay Dube and SBI chairman Rajnish Kumar for non-payment of March salaries, even as passengers continued to bear the brunt of last-minute cancellations and missing refunds. Over 200 Jet Airways …

Jet Airways, once India’s biggest airline, fights to keep flying
5 years, 9 months ago

Jet Airways, once India’s biggest airline, fights to keep flying

Live Mint  

Jet Airways India Ltd.’s fleet has shrunk by almost 90 percent as the cash-strapped airline struggles to find funds to operate, forcing the nation’s oldest surviving private airline to drastically curtail its scheduled flights amid a hunt for a new investor. The carrier, once India’s biggest by market capitalization, was forced to ground 10 more jets after it failed to …

Crisis deepens for Jet Airways as pilots plan to protest in uniform
5 years, 9 months ago

Crisis deepens for Jet Airways as pilots plan to protest in uniform

India Today  

Jet Airways domestic pilots' body, the National Aviators Guild, has decided to increase the pressure on its management over unpaid salaries by reiterating its decision to go on strike on April 15, and protest in full uniform. According to an internal communication, in a late-night development, the NAG committee decided that the pilots will march to the Jet Airways headquarters …

Jet Airways grounds more planes after failing to pay lessors; seeks access to bailout funds promised by banks
5 years, 9 months ago

Jet Airways grounds more planes after failing to pay lessors; seeks access to bailout funds promised by banks

Firstpost  

With a smaller operating fleet, Jet Airways has given pilots and cabin crew the option of flexible working days and taking extended leave with or without pay. New Delhi: India’s Jet Airways said it has grounded more planes after failing to pay lessors, as the debt-laden carrier — which also owes salaries to pilots and crew — works to secure …

Saving Jet: on Jet Airways crisis
5 years, 9 months ago

Saving Jet: on Jet Airways crisis

The Hindu  

The decision of Naresh Goyal and Anita Goyal, his wife, to step down from the board of Jet Airways and cede control to its lenders has come not a moment too soon. By hanging on to the troubled airline and refusing to let go, Mr. Goyal brought Jet to the brink, imperilling 16,000 direct jobs and ₹6,000 crore of outstanding …

SBI boss insists bankruptcy ’last option’ for Jet Airways
5 years, 9 months ago

SBI boss insists bankruptcy ’last option’ for Jet Airways

Live Mint  

Bankruptcy is the "last option" for Jet Airways, State Bank of India's chairman said on Wednesday, adding that it might still be possible to draft in a new investor to keep the airline flying. "We believe it is in everybody's interest that Jet Airways continues to fly," SBI Chairman Rajnish Kumar told reporters after meeting government officials, adding that placing …

Jet Airways planes to be redeployed if no restructure agreed this month, says lessor’s CEO
5 years, 10 months ago

Jet Airways planes to be redeployed if no restructure agreed this month, says lessor’s CEO

Firstpost  

“We have grounded our aircraft, we have control over our aircraft, but we have not terminated the leases and we are waiting for the airline to approve all its restructuring with the State Bank of India,” FLY Leasing CEO Colm Barrington told analysts on results call on Thursday Singapore: FLY Leasing Ltd has grounded three planes on lease to Jet …

International lessors doubt Jet Airways rescue plan; pull out more planes, likely to be shifted out of India
5 years, 10 months ago

International lessors doubt Jet Airways rescue plan; pull out more planes, likely to be shifted out of India

Firstpost  

Jet Airways has defaulted on loans and has not paid pilots, leasing firms and suppliers for months. Singapore/Bengaluru: International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as scepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources familiar with the matter said. Banks took control but …

Jet Airways grounds four planes after failing to pay lessors
5 years, 11 months ago

Jet Airways grounds four planes after failing to pay lessors

Live Mint  

Mumbai: Jet Airways has grounded four planes after failing to pay lessors, the airline said, in the latest evidence of financial distress at the debt-laden carrier. "Four aircraft have been grounded due to non-payment of amounts outstanding to lessors under lease agreements," the carrier said in a statement to the Bombay Stock Exchange late Thursday. Jet Airways first hit turbulence …

How Jet Airways is casting a shadow on India’s coming elections
5 years, 11 months ago

How Jet Airways is casting a shadow on India’s coming elections

Live Mint  

India’s Prime Minister Narendra Modi rode to power five years ago on his business friendly credentials and the promise of generating millions of jobs. Rescue Bid As the crisis at Jet Airways unfolded last year, Modi’s government reached out to the salt-to-software Tata Group to help rescue the airline, people familiar with the matter said in November, an effort that …

Trouble mounts for Jet Airways: Here are key factors that led to airline's financial crisis
6 years, 1 month ago

Trouble mounts for Jet Airways: Here are key factors that led to airline's financial crisis

India Today  

India’s biggest full-service carrier Jet Airways, which is going through a massive financial crunch, recently decided to stop free meals for most of its domestic economy class passengers from January, reported Reuters. Having said that, here are some important facts related to the financial crisis at Jet Airways: Three consecutive quarterly losses The premium airline suffered three back-to-back quarterly losses …

Cash-strapped Jet Airways hands over pink slips to 20 employees including senior-level executives to curtail costs
6 years, 2 months ago

Cash-strapped Jet Airways hands over pink slips to 20 employees including senior-level executives to curtail costs

Firstpost  

Mumbai: Naresh Goyal-promoted Jet Airways has given pink slips to 20 employees, including some senior-level executives, who were working in the airline’s crucial in-flight services department, to curtail costs amid the severe cash crunch, an airline source said on Friday. Significantly, a decade back, Jet Airways had announced sacking of 1,900 employees, including 800 unconfirmed and under-probation employees, across all …

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