The domestic airline industry has been badly affected due to Jet Airways and the Max 8 crisis. With the closure of several flights, the fares for other flights have increased by 100 per cent. The dreaded government has convened an emergency meeting of airline companies on Wednesday to deal with it. A plan has been seeking to increase the number of flights in the meeting. The meeting will be under the chairmanship of Aviation Regulator DGCA.
This two crisis caused big fare
In December 2018, the jet fleet had 124 aircraft. Last week, Aviation Secretary Pradeep Singh Khurla had said that it has left only 26 aircraft. Most aircraft are standing because of not paying lease rent. After the crash of Ethiopian Airlines on March 10, the Boeing 737 Max-8 aircraft were erected around the world and 12 aircraft of SpiceJet stood still. An official said that the Directorate General of Civil Aviation (DGCA) is continuously talking to the airlines about this so that the number of planes increases.
These companies can increase the number of flights
After the Jet flight was closed on some routes, Indigo announced on April 8 the increase on domestic and international routes. Air Asia has also said that it will start additional flights from Mumbai-Bangalore and Mumbai-Kochi route from
April 15.
JET crisis persists
The auction that the banks have started to sell the shares of Jet Airways, on Tuesday for the second consecutive day, nobody showed interest in it. Sources said that Wednesday, some companies are likely to come forward on the last day of the bid. PE firms such as Delta Airways and TPG of America are also expected to participate in this. Adani Group also has discussions to participate in it. After this, the qualifications of bidding companies will be checked. Those companies who will be approved in the first phase will be able to take part in the final phase auction. The final stage bid is also expected to be completed this month. According to the rules, at least 51% stake in the airlines should be owned by the Indian company.
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These can be strong alternatives
The banks are talking to domestic airlines like Tata's Extra. Singapore Airlines can also come with the extension. On its arrival, there is a possibility of major investment companies like Singapore's Temasek and GIC. If Etihad shows interest in buying a jet, then Abu Dhabi Investment Agency can join with it. With this, India's National Infrastructure Investment Fund (NIIF) is an alliance. That's why she can also come along.
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Today's interim committee can take charge after Jet's board meeting
The banks had announced to appoint Jet's interim management committee on March 25. Sources said that the Committee will take charge only after the board meeting of Jet. This board meeting is scheduled on Wednesday, i.e. on April 10. The bank has agreed to appoint a former chairman of SBI, AK Purvar as chairman of this committee.
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Pilots sent a legal notice, asked to pay salaries till April 14
National Aviator Guild, the organization of Jet pilots, has sent a legal notice to the airline. It has been asked to give the salary of January, February and March to April 14. Further, it has been said to give salaries on the first date of every month. Not doing so has warned of legal action.
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18 companies applied for the leasing of aircraft
Jet leasing companies have applied to DGCA to de-register 18 aircraft. Due to not leasing, these aircraft are standing. These aircraft belong to Avalon and GE Capital Aviation. Sources said that leasing companies have no confidence in Jet's debt relief scheme.
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