Monday, October 22, 2018

Jet Airways fires 15 top level executives, grounds 8 planes this month alone

New Delhi: As it battles financial crisis, Jet Airways has decided to trim its workforce and operations further. Jet Airways asked 15 managerial level employees from departments such as engineering, security and sales to leave in October. A Jet Airways official said that there was a lull in September but the pink slips have begun again, as mentioned in a report in The Economic Times.  Additionally, the airline has also grounded eight of its planes at the Chennai and Mumbai airports.
The official said that engines have been dismounted from these planes. It essentially means that these planes may remain grounded for six months or more. There have also been speculations that Jet is struggling to meet lease payment obligations. The affected planes include an Airbus A330, a Boeing 777, two Boeing 737s and three ATR turboprops.
The airline, however, told the daily that it regularly evaluated fleet requirements. Jet Airways said that they regularly review its network to address its capacity exposure to routes, markets and airports. It did not comment on the workforce pruning. Jet Airways said that external factors such as crude price, rupee devaluation and pricing environment necessitate change in the airline's operations. It said that they are also rightsizing the ATR network to align capacity and demand.
According to the daily, 8 to 10 planes undergo regular maintenance every day, which means that at any given point, 16 planes are out of service, adding that it may increase to more than 20. Currently Jet Airways has 124 planes, as mentioned on its website.
22/10/18 Business Today

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