Jet Airways I Ltd Many Sr. Pilots threaten to ground Beleaguered Airline

Fresh Trouble for Jet Airways I Ltd Many Sr. Pilots threaten to ground Beleaguered Airline
The Pilots stated in an internal communication, 
"If the promise is not fulfilled this month, we must not fly and stop unconditional support to 9W Flights...
Majority of Mumbai and Delhi based Pilots have decided not to fly if the commitment is not fulfilled by February 28."
In November, Jet Airways had assured all its Pilots that the Jet Airways I Ltd would clear all pending dues by January and had even outlined a Good Payment Schedule. 
But the Pilots, who have not been paid Salary since August last year when Jet's financial troubles came to the fore, allege, "Nothing has changed so far. 

In the past the money was coming in 25% installments and now it will be paid 50% in one go! 

Imagine those Pilots who are on low budgets and have so many Commitments to fulfill."

Jet Airways Ltd did not respond to the Financial  Issue query till the time of going to the press.

Jet Airways I Ltd is just awaiting for upcoming Lok Sabha General Elections in India. 

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    M P Flying Club Ltd Bhopal Alumni Reunion 16 Feb 2019

    M P Flying Club Ltd Bhopal Alumni Reunion 16 Feb 2019  

    “This is a Pilot Training facility whose Alumni numbering in Hundreds are either providing services to prestigious Airlines in India and Foreign lands or have retired. The homecoming is the maiden programme of its nature and endeavours shall be made to conduct similar Get-Togethers in future. Besides, a special fund will be set up to serve as a medium for assisting education, health, etc of this institution’s employees and their kin,” Mr Sarkari – who compered the proceedings – said.

    Top officials of various Airlines were among those present.

    At the event’s commencement, a brief silence was observed as a mark of respect to the Central Reserve Police Force personnel martyred in Thursday’s dastardly terror assault in Jammu and Kashmir’s Pulwama District. 


    MP Flying Club has earned Glory: Diggy Raja 

    Bhopal, Feb 17  Rajya Sabha Member and erstwhile Chief Minister of MP Digvijaya Singh has averred that Pilots of the Madhya Pradesh Flying Club – which is in existence for more than seven decades – are bringing name and fame in India and abroad not only for themselves but also for the fellowship.  

    “This fraternity has elevated itself to take on the form of an institution,” the Congress leader said late Saturday in the state capital while addressing the association’s Reunion 2019 that witnessed attendance by in excess of 100 aviators and their relatives from within the country and overseas.

     Mr Singh honoured both high-ranking and young Flyers for their praiseworthy services.

    “Senior Member Farooq Sarkari has carved a niche for himself and made a crucial contribution vis-a-vis promoting the circle. I hope that in the days to come the pilots emerging from this league shall perform even better to bring laurels for the state and the country,” he said. 

    Capt Shoeb [ Air India ]
    Capt Vivek Agrawal CFI [ Madras Flying Club
    Capt Gaurav Bahal [ Go Air ] 
    Capt Gulab Singh [ Sarthi Airways ] 
    Amrit Pathak [ Flipcart ]
    Capt Shekhar Gupta [ AirCrews Aviation P Ltd] 
    Capt Nitin Khandelwal [ Air India ] 
    Capt Akshat Sethi [ AirIndia ] 

    Capt Nitin [ AirIndia]
    Capt Sameer Tiwari [ Jet Airways ] 

    Capt Pulkit Gupta [ Jet Airways]
    Capt Rajeev [ Air India]
    Capt Hemant Ghodke [ Air India] 

    MPFC Alumni @ Raja Bhoj Airport Bhopal 

    Pilots @ Boat Club Bhopal 

    MC Aviation Ltd to decide on taking back five Jet Airways Air Planes

    Jet Airways I Ltd  Airways Crisis Crisis at Jet Airways Ltd Worsens now 

    MC Aviation to decide on taking back five Jet Airways Air Planes 

    MC Aviation Partners has leased five Boeing 737 Air Planes to cash-strapped Jet Airways

    MC Aviation Partners Inc., the wholly owned Aircraft leasing unit of Japan’s Mitsubishi Corp., said it will decide after 21 February on whether to repossess five Boeing Co. 737 Air Planes it has leased to cash-strapped Jet Airways (India) Ltd.

    Jet Airways, which has lease rentals overdue with MC Aviation, has convened an extraordinary general meeting of shareholders next week to decide on a proposal to convert a portion of its large debt into equity.

    “Jet Airways hasn’t paid dues to MC Aviation Partners since October 2018," a senior official of the leasing firm said on Wednesday. The official declined to be named.

    Shareholders of the Mumbai-based Airline will vote on a proposal on 21 February to raise its authorized share capital from ₹200 crore to ₹2,200 crore through a special resolution. The step will allow the debt-laden Airline to issue fresh shares to lenders—a much-needed financial lifeline. It is, however, expected to reduce the holdings of promoter Naresh Goyal, and Etihad Airways PJSC of Abu Dhabi, who currently hold stakes of 51% and 24%, respectively.

    Jet Airways has been struggling with cash flows for the past six months due to higher fuel costs and intense competition that has forced the carrier to keep fares low to match those of its rivals. The cash crunch forced the Airline to delay salaries to pilots, lessors and interest payments on its debt. Jet Airways defaulted on payments to a consortium of lenders led by State Bank of India on 31 December.

    The financial woes also led Jet Airways to halt deliveries of six new Boeing 737 Max Air Planes that were due by March. The Airline has a total of 123 Aircraft, including five Boeing 737 Max Air Planes.

    The official at MC Aviation said Jet Airways had also defaulted on paying Aircraft lease rentals in 2013. “We hope that they are able to sort the situation quickly," the official said, without disclosing the overdue amount of the carrier.

    A Jet Airways spokesperson declined to comment on individual relationships with Aircraft leasing companies. “Considering the partnership with our vendors, we have been able to continuously reach agreements for certain past due payments," the spokesperson added.

    On 29 January that Jet Airways was forced to cancel several domestic Flights after lessors grounded some Aircraft due to delay in payment of lease rentals.

    The Jet Airways board will meet today to consider the December quarter earnings.

    On Wednesday, Jet Airways shares gained 1.20% to ₹220 apiece on the BSE while the benchmark Sensex shed 0.30% to end the day at 36,034.11 points.

    Jet Airways has convened an EGM next week to decide on a debt resolution plan proposed by SBI

    Why is Jet Airways failing ? What is wrong with Jet Airways  business model ?

    Currently they are in a critical state ( though not as bad as potrayed by media) . The various techniques to turn around them can be

    Aircraft configuration rationalization : One of jet’s problems has been the way their aircrafts are configured.

    Their B777s have 346 seats which include 8 First Class suites. For more than a decade jet hasn’t been able to generate significant revenues from those suites although they won the “most innovative first class “ award in 2008 and was one of the first airlines in the world to have private suites in 2007. 
    That F-class need to be removed asap . In fact their int’l business class is mostly packed to the grills. So what jet is trying to do is reconfigure their B777s in such a way that their business class product becomes an upgraded and “world’s finest” as per their CEO. Well I won’t try to challenge the phrase “world’s finest” because in 2007 their business product was really one of then world’s best. Having a modern business cabin and adding more economy seats in the place where currently their First class is placed will take the total seats to 390–400 . Nice cost reduction without comfort reduction.

    2. Network rationalization

    In terms of network restructuring I would suggest the following

    Suspend AMS-YYZ. Yes that fifth freedom route is no use and it’s not needed for jet to operate a frequency in it that too with their 777. Better leave that to their JV partner KLM . In fact the 777 which will be spared after cutting that route can be used elsewhere.
    Have a BLR-LHR flight with morning departure from BLR . Till now jet’s BOM pax get a good choice of timings by jet and its JV partners. However in BLR if anyone wants to travel by jet or it’s JV partner Air France , he/she has to depart at late night only . So to provide a choice of timings to BLR pax they can try the flight I suggested . Plus their recently launched frequency in BOM-LHR (9:50 am dep from BOM) has been a real success . So I want the BLR flight to have similar timings.

    Down gauge MAA-CDG . That route is less business traffic centric and has terrible yields although load factors are high. An a333 with 34 business seats isn’t required here. Better if jet tries the a332 here which has 18 business and 256 economy seats.
    Launch BOM-MAN but only 4 weekly because MAN is overhyped and has less business traffic to support a daily flight jet is planning to do. And it will be good if they don’t go after Manchester airport demands of launching DEL/BLR -MAN . Both will be terrible.

    3. Staff costs
    No I don’t want the salaries of staff to be cut but what jet can try is reduce their staff to aircraft ratio . It’s currently 130:1 down from 150:1 in 2015. It should be reduced more by proper rationalization of staff . Like for example as I mentioned above about reconfiguration of jet’s 777s , if they have only business and economy instead of First, business , economy they’ll require 2 less flight attendants for a route . This way staff rationalization can be done.

    4. Unbundling products
    Jet is currently FSC but everyone flying jet won’t care about FSC services. What can be done is meals in economy can be unbundled. They can try launching something like Economy Lite of Vistara. That saves meal costs significantly . After all there are many who don’t care whether they get anything to eat or not in a flight. And there are people who won’t be happy with a snack box and might want full hot meals. Simple way “unbundle the two” . This way they can follow the principle of “make the customer realize services come at a cost”.

    These were from my side . I hope I’ve been able to answer your question . 

    I would like to hear your thoughts in the comments so do mention them . Any more suggestions from you will be welcomed.

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