Pilots at Jet Airways may have reportedly threatened to go on strike unless the airline clears salary arrears to the tune of Rs 100 crore by August 20. But the airline is not worried. It says it had created a provisioning for these arrears in March 2013 itself. But Jet is seeing some relief when it comes to profitability. In the first quarter, the airline has posted a net loss of Rs 217 crore - this is lower than the Rs 355 crore loss recorded a year ago. The company sees this as a sign that its 3-year turnaround strategy is bearing fruit and is targeting a net profit by 2017 on the back of a new 'single-brand strategy'. Naresh goyal, chairman, jet airways said, “Today, at our board meeting we have received approval for our next critical step, to re-establish Jet Airways as a single master brand. This would mean harnessing our product proud heritage and original values in one consistent predictable and clearly recognized full service brand and also promise you Jet Airways used to be known as a Swiss clock operation, you cannot adjust your clock when you go. This will happen soon.”
11/08/14 Moneycontrol.com
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11/08/14 Moneycontrol.com
