Friday, December 07, 2018

Jet Airways To Discontinue Services In Silchar; Barak Valley Travellers Might Have To Pay More

A major blow for air travellers of Barak Valley and entire northeastern region. India’s biggest full-service carrier by market share Jet Airways have announced that it would discontinue its services in Silchar,Aizawl, Imphal and Jorhat from February, 2019 onwards.
This decision was well expected as Jet, whose debt was about 80.52 billion rupees ($1.14 billion) as of Sept. 30, failed to raise funds despite making several attempts. At present, Jet does not have the
liquidity to honour all payments and expenses but is paying statutory dues such as taxes as per a Financial Express report . The Etihad Airways which owns 24% stake in Jet is unlikely to invest more in Sanjeev Goyal owned and controlled airline as the UAE based aviation giant itself reported a $1.52 billion annual loss for 2017.
Jet’s decision to discontinue, could harm people of Barak Valley in a big manner believes an analyst in the aviation sector, “As number of flights drop down there will be more demand and less supply. This could result in existing operating companies hiking their price especially for Silchar-Guwahati flights.”
07/12/18 Barak Bulletin

0 Comments: