Tuesday, April 30, 2019

Jet Airways fiasco: India’s forex kitty hit as Qatar, British Airways, Etihad take international slots

The Jet Airways crisis has not just left a void in the Indian aviation industry but is also costing India its forex, President of Engineering Union of Jet Airways told Financial Express Online. While the domestic slots of the airline have been given to rival SpiceJet and Air India and IndiGo, its international slots have been taken up by international airlines such as Qatar and British Airways, resulting in a considerable loss to India’s forex inflows.

Jet Airways has served the international skies for 14 years from 2005 to 2019. “We used to have daily flights to London, Manchester, Singapore, Hong Kong, Paris. Who is coming up now to take these slots? Emirates, Qatar, Cathay Pacific, British Airways etc. Indian airlines have got the domestic slots but what about international slots?” Ashish Mohati, President of JAMEWA (Jet Aircraft Maintenance Engineer’s Welfare Association) told Financial Express Online.

In India, Air India and Jet Airways had the major share of international routes. With Jet grounding, British Airways has jumped to make the most of it. “British Airways immediately stopped its flight to London and Johannesburg and now is flying more aircraft to India to cater to our passengers [Jet Airways]. Who is getting the forex money, we are losing forex money,” he added.
Also, in the Middle East, India’s 90 per cent of the expatriates are working there. “Jet Airways was the biggest flyer to the Middle East. These people are now taking Qatar and Emirates. Who is making the money then?” Ashish Mohati said. “The real financial loss is to the government of India,” he added.
29/04/19 Prachi Gupta/Financial Express
To Read the News in full at Source, Click the Headline


Post a Comment