Aviation crisis led to union: Jet Airways chief

Hyderabad: Jet Airways Chairman Naresh Goyal has admitted that the Domestic Civil Aviation industry is facing a crisis and appealed to the Government help the domestic airlines.
Goyal also reassured that despite the consolidation, lay off will not be done in an arbitrary manner.
“Basically it is the alliance. Alliances were started in Europe by British Airways, Lufthansa and Air France. They have also other European carriers in their alliances. This is the first time it is happening in India. Mergers and acquisitions have taken place in India. Mergers are taking place in every industry like banks, insurance, hotels, automobiles, telecom etc. When the industry opened in 1992 and further liberalisation took place in 2004. I have already said when we took over Sahara you cannot stay in business unless there is rationalisation,” he said.
15/10/08 CNN-IBN

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Categories: Jet Airways Oct 2008, Kingfisher Oct 2008