One of India’s biggest airline Jet Airways over the past decade founded by Naresh Goyal has now only 12-15 planes operational. The company has missed payments to banks and leasing companies. The company has a debt of $ 1 billion.
It has now become the smallest operating Pan-Indian airline.
The salaries are consistently delayed. The Pilots have given an ultimatum to the management that they would not fly the planes until they are paid for their work. They have given two weeks time to the management to clear unpaid salaries.
Overall, 23,000 jobs are at stake.
Prior to this, Kingfisher ended its operations in 2012 after failing to clear its dues from banks and airports.
And comparing to the other competitors in the market, Indigo is the only airline which has managed to carry out its operations in a profitable direction.
Adding on, the summer schedule for all the airlines begins on March 31, 2019.
The aviation regulator has approved the summer schedule of Jet Airways flights from March 31 to April 25th only.
Whereas, the other airlines such as Vistara, Indigo, and AirIndia, their summer schedule have been approved until October 26th. Also, the banks which would get 11.4 crore new shares in the company, agreed to provide the airline with immediate funding of 1500 crore. Moreover, Jet Airways shares fell as much as 4 percent on Wednesday.
Jet Airways, a 25 years old airline is still struggling to carry out its operations smoothly.
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