Articles by "Jet Airways"
Mumbai, Oct 10 (PTI) Crisis-hit Jet Airways Tuesday paid the balance amount of salaries for the month of August to its pilots, engineers and senior management, but told them that September payments would be delayed, sources said.As part of a staggered payment plan, the full service carrier was to clear the remaining 50 per cent of the August salary to these personnel on September 26.On the scheduled date, the airline could pay only half of that amount due to paucity of funds. The remaining money was to be paid on October 9, which the airline did."We have received the remaining 25 per cent of our salary on Tuesday and with this payment, the airline has cleared our August salary dues. But it has still to disburse the September salary," a Jet Airways pilot associated with the National Aviators Guild (NAG) told PTI.Jet Airways Chief People Officer Rahul Taneja told pilots, Aircraft Maintenance Engineers (AMEs) and senior management team that it has remitted the balance of the August 2018 payroll on Tuesday."I sincerely regret that owing to unprecedented circumstances, including the continuing rise in the price of Brent fuel and the appreciation of the US dollar, there will be a delay in the payment of the September 2018 payroll," he said in a communication.Noting that these delays are unavoidable, Taneja also said every effort would be made to release the September salary at the earliest."Once again I regret the change in remittance plan and the resulting inconvenience...," he said in the communication seen by PTI.The National Aviator's Guild (NAG) told its members the management has conveyed that it is not in a position to honour the October 11 commitment for part payment of salaries and no firm date has been given for making the payment.NAG represents around 1,000 pilots of Jet Airways.The September salaries was to be paid in two instalments -- on October 11 and October 26.In a statement, the airline said it remains committed to honour the obligations."While the company has been diligent in running its payroll as per schedule for all employees, it is only in the last couple of months that the schedule has been impacted due to unavoidable reasons."Despite these challenges, the company has ensured that 85 per cent of its employees are paid salaries on time while those of the leadership, pilots and engineers have been delayed," it said.On September 6, the airline had informed that its senior management, pilots and engineers would receive their monthly salaries in two instalments till November.The August salary was to be paid in two instalments - half by September 11 and the other half by September 26.The airline, which is struggling to raise capital for its various payment obligations, received a breather from its loyalty programme Jet Privilege Private Ltd. JPPL, a joint venture with Etihad, offered about Rs 258 crore for the advance purchase of discounted tickets.JPPL is 50.1 per cent owned by Etihad Airways, while the rest 49.9 per cent is with Jet Airways.
New Delhi, Sep 21: Jet Airways Friday said Income Tax officials have been conducting survey of its premises since September 19.
Shares of the crisis-hit airline fell over 8 per cent to touch a low of Rs 224.70 on BSE. It later recovered some lost ground and was trading at Rs 231.40, down 5.26 per cent at 1138 hours on the BSE.
On Wednesday, sources said the I-T Department is inspecting the books to ascertain whether there have been falsification of accounts, suspicious dealings and other possible violations.
In a regulatory filing Friday, the carrier said I-T officials are conducting a survey of the premises of the company since September 19.
"The company is fully cooperating with the authorities and is responding to the queries by the Income Tax authorities," it said.
The full service carrier, grappling with financial woes, is already under the scanner of markets regulator Sebi and the Corporate Affairs Ministry for various alleged lapses.
The airline reported a net loss of Rs 1,323 crore for the June quarter on August 27. The carrier is also under the regulatory lens for deferring the results, which were initially scheduled to be announced on August 9. (PTI)
New Delhi, Sep 20: Several passengers on a Jet Airways flight from Mumbai to Jaipur Thursday suffered nasal and ear bleeding due to cabin pressure problem, a senior official said.
The Boeing 737 aircraft returned to Mumbai.
"During climb, the crew forgot to select bleed switch due to which cabin pressurisation could not be maintained.
"As a result, oxygen masks got deployed," the official at aviation regulator DGCA said.
Citing initial information, the official said few passengers have nose bleeding.
"Out of 166 passengers on board, 30 passengers are affected... some have nose bleeding, few have ear bleeding and some are complaining of headache," he added.
The official said all the affected passengers are being attended to by the doctors at the airport. Response from a Jet Airways spokesperson was awaited. (PTI)
New Delhi, Aug 21: Amid Jet Airways facing turbulent times, Civil Aviation Minister Suresh Prabhu has made it clear that private airlines have to deal with issues facing them on their own and the government's role can only be at the policy level.
The minister's comments come at a time when the airline industry is grappling with tough times as high oil prices and stiff competition are crimping the profitability of carriers.
When asked about the current situation at Jet Airways, Prabhu said, "We are not aware about their position."
The full service carrier, which has been flying for over 25 years, is facing financial woes. Earlier this month, it also deferred the announcement of June quarter results. The airline's share price has taken a beating in recent weeks.
"We are not aware about their (Jet Airways) position. As far as private airlines are concerned, they will have to deal with whatever issues they are dealing with. At the Ministry of (Civil) Aviation we can only deal at the policy level, Prabhu told PTI in an interview.
Jet Airways is facing financial stress and on August 9 the company held off from announcing the unaudited financial results for the June quarter.
The airline's board is scheduled to meet on August 27 to consider and approve the unaudited financial results for the first quarter ended June 30. The carrier is also under the scanner of markets regulator Sebi for alleged disclosure lapses.
Shares of the airline tumbled nearly 4 per cent today after reports that the Ministry of Corporate Affairs Ministry is looking into alleged fund diversions at the carrier.
In a regulatory filing, Jet Airways said it "has not received any communication from the Ministry of Corporate Affairs in this regard".
About the overall situation in the airline industry, the minister said that whenever the fuel prices go up, the airlines get badly affected because it is a variable cost and cannot be absorbed into business model immediately.
"Now, we will have to work on it. Not only India but globally. Some of the global airlines are facing serious problems. We have no control over the oil prices. One of the things we are trying to pursue is to put the ATF (Aviation Turbine Fuel) into the GST," he said.
The Civil Aviation Ministry has been working on efforts to bring jet fuel under the Goods and Services Tax (GST) regime. (PTI)
