Dreams grounded: Jet Airways, Kingfisher Airlines

India’s biggest private airline, Jet Airways has put all its expansion plans on hold. Now the airline’s top brass says it wants to rationalise operations and derive maximum synergies.
The latest decision comes on the heels of the voluntary retirement scheme offered by the airline to 687 staff of JetLite, its 100% subsidiary, which was taken up by 387 personnel.
According to sources, these were exceptional times and company has put its fleet expansion on hold, curtailed flights and grounded some aircraft as well.
The turbulence in the air is evident from the fact that two major airlines, Jet Airways and Kingfisher Airlines, had to announce an agreement to the formation of an alliance of wide-ranging proportions that will help both carriers to significantly rationalise and reduce costs and provide improved standards of service and a wider choice of air travel options to consumers with immediate effect.
After Jet Airways gave pink slip to many of its staff, Kingfisher followed with reduction the salary of its co-pilots.
Kingfisher and Kingfisher Red combine have together cut back by nearly 100 flights a day.
26/10/08 Raja Awasthi/Economic Times

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Categories: Jet Airways Oct 2008, Kingfisher Oct 2008