Company Watch - Jet Airways.
Jet Airways said it received shareholder approval to raise up to USD 400 million through private share placements, global depository receipts or foreign currency convertible bonds, according to a filing with the Bombay Stock Exchange cited by numerous press reports. Sep 25, 2009
Jet Airways lost approximately USD 80 million in revenue during the six-day work action by its pilots that ended early last week, Executive Director Saroj Datta told CNBC. Sep 21, 2009
Air travelers in India let out a collective sigh of relief on Sept. 13, when Jet Airways, the country's second-largest private airline, negotiated an end to a five-day strike by nearly half its pilots. But for the rest of India's airline industry, that just might be terrible news. In an industry plagued by too many planes and too few passengers, the past five days may end up being its most profitable. As soon as Jet Airways started canceling flights on Sept. 1, competitors moved in hungrily on its 25 percent market share, doubling and even quadrupling ticket prices for last-minute buyers. "Break even? We raked it in," says the chief operating officer of a competing airline, who asked not to be named because India's airline regulator had frowned on the practice. "All the industry needs is for one major airline to go out of business, and the rest of us will be fine." Sep 15, 2009
India's Jet Airways has resumed normal domestic and international services after the end of a pilot strike that grounded the carrier for five days. Under a deal with its pilots, the carrier will re-instate four of their colleagues it sacked earlier this year, says Jet. It has also set up a committee consisting of Jet executives and five pilots, "so that a continuous process of dialogue can be in place". The carrier has also withdrawn legal action against the pilots for the strike, which grounded hundreds of aircraft and left thousands of passengers stranded in airports across India and overseas. Sep 14, 2009
"All I can tell you is that there is no union and that there will be an internal committee," -- Ragini Chopra, Jet Airways. The standoff between India's Jet Airways and its pilots on strike over the sacking of four colleagues has ended, the airline said Sunday. More than half the carrier's 760 pilots, banned from striking without informing the airline's management ahead of time, had reported sick since Tuesday, forcing the cancellation of hundreds of flights and affecting thousands of passengers. The pilots say they went on mass leave after four of their colleagues were sacked because they were trying to get the management to recognize their newly formed union. The standoff ended after talks between the two sides late on Saturday, and the executive director will issue a statement, the airline said. "All I can tell you is that there is no union and that there will be an internal committee," Ragini Chopra, a spokesman for the airline, said. "An internal committee comprising of members of the management and the pilots." The National Aviators Guild, a Jet Airways pilots' union, could not be reached for comment. Jet has said the four pilots were fired for indiscipline and called the mass absence of pilots a "simulated strike". Most Indian private airlines do not have unions and analysts have warned the unrest at Jet Airways could become the trigger for labor unrest in other airlines. Sep 14, 2009
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|Date:||Sep 28, 2009|
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