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Jet Airways News -- Part 15
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Aseem
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PostPosted: Thu Apr 18, 2019 3:23 am    Post subject: Reply with quote

I am getting the feeling that Indian market is not suitable for full-service carrier. AI is managing to hang on due to taxpayer's money. Lets have long haul budget carriers with non-fancy meals. What's wrong if crew has to be put up in Best Western. Only economy and business class is needed. IMHO Vistara should be wound up. Full service carriers of Europe and North America survive as they fly to inexpensive foreign destination. Airlines of India don't have that luxury.

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iah87
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PostPosted: Thu Apr 18, 2019 5:49 am    Post subject: Reply with quote

Full service carriers in India:

Main reason is Indians don't care about frequent flyer miles and affiliations they only look at the price. Jet was attracting a few corporate travelers but was not enough. Jet, AI and Vistara provide meals, but they still don't attract any more customers than Indigo and all the FSCs still provide full meals even on short flights, which is a recipe for disaster. Worldwide most airlines especially in US and Europe do not offer any complimentary meals except for a light snack and beverages.

AI technically should be doing great but they are just doing OK in domestic sector primarily due to government travel is required on AI.

In US there is a strong desire to stick to one carrier to earn status/miles but not in India. Also the airlines in India have made it very difficult to earn status anyway, especially Jet and Vistara, while AI's reputation has not been good so not many corporate travelers want to travel on AI inspite of their very attainable status goals.

And add to that Indigo and to less extent other budget carriers added so many numerous flights that fares fell to almost unsustainable levels, which Jet could not match in the long run.
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PostPosted: Thu Apr 18, 2019 7:41 am    Post subject: Reply with quote

Lessors have already moved to de-register nearly fifty aircraft, while US EXIM Bank issued a notice to repossess all ten B777-300(ER) operated by Jet Airways. While the airline owns the Boeing widebodies, they were all acquired with EXIM Bank guarantees.

https://www.ch-aviation.com/portal/news/77292-jet-airways-suspends-operations
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PostPosted: Fri Apr 19, 2019 3:10 pm    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/77366-air-france-klm-adds-capacity-to-india-after-jets-collapse

Air France-KLM adds capacity to India after Jet's collapse

19.04.2019

Air France-KLM said it will add capacity to India to minimise travel disruptions for passengers originally booked on the group's commercial partner Jet Airways, which suspended operations on April 17.

"Depending on their operational capacities and needs, Air France and KLM Royal Dutch Airlines are increasing the number of seats available to and from India by operating higher capacity aircraft or increasing the number of frequencies," the Franco-Dutch holding said in a statement.

Air France-KLM added that it remains in close contact with Jet Airways and will assist all passengers who were due to travel on the Indian airline with Air France or KLM codeshares.

According to the ch-aviation capacity module, Jet Airways operated daily services from Mumbai Int'l and Chennai to Paris CDG. The French carrier operates daily flights from its main hub to Mumbai (flights are operated by Joon) and to Bangalore Int'l, as well as 5x weekly to Delhi Int'l.

Jet Airways also flew daily from Bangalore, Delhi, and Mumbai to Amsterdam Schiphol, while KLM operates daily to Delhi and 3x weekly to Mumbai.

All of these flights were covered by the codeshare partnership which also includes Delta Air Lines.

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The_Goat
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PostPosted: Fri Apr 19, 2019 11:27 pm    Post subject: Reply with quote

iah87 wrote:
Full service carriers in India:

Main reason is Indians don't care about frequent flyer miles and affiliations they only look at the price. Jet was attracting a few corporate travelers but was not enough.


Oh yeah?

Why don't you tell that to the Lufthansas, Emirates, Qatar Airways, British Airways or the Air France-KLMs of the world who have absolutely no problem filling the fronts of their cabins with gold, silver or platinum card holding Indians on their flights to India?

Building a big business is as much about imagination and vision, as it is about finance, economics and marketing. Why don't we just accept the fact that other than a certain long-dead J.R.D.Tata, no other Indian business person has been able to have the vision, imagination or even the basic competence to run a quality, full-service airline in India? Most of them have been simply either driven by hubris or needed a outlet to launder their dirty stuff as the main reasons for starting airlines. Naresh Goyal is just another one of those.

What were Jet's managers doing when the company was running up debts like nobody's business? You don't run a debt of 8500 crores INR overnight. Didn't they have the brains or even the common sense to see what was coming? Even small time shopkeepers know how to manage debt and optimise their overheads. And these overpaid fat cats didn't have a clue?

In the end I feel only for Jet's 20,000 odd employees who haven't received their salaries for months. They put their futures and worked their asses off for a bunch of incompetent top brass, all of whom must have been well provided for.
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sumantra
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PostPosted: Fri Apr 19, 2019 11:49 pm    Post subject: Reply with quote

I am sorry, I guess being in the US for a long time does not expose you to some ground realities.
iah87 wrote:
Main reason is Indians don't care about frequent flyer miles and affiliations they only look at the price. Jet was attracting a few corporate travelers but was not enough.
You will be surprised as to what JetPrivilege had achieved, and its strong loyalty base. EY went in for JP, first.
iah87 wrote:
Worldwide most airlines especially in US and Europe do not offer any complimentary meals except for a light snack and beverages.
Meals is not the only problem: it is only a small fraction of the issues. Start with the cost base and ATF. Then go to the management. Food does come in, but much further down.
iah87 wrote:
AI technically should be doing great but they are just doing OK in domestic sector primarily due to government travel is required on AI.
Not quite. You have to see the primary hub in action at DEL. You have to see the number of *A connections all over the network, to believe it. I see it with a great deal of regularity on my regular travels all around the place. And you will be shocked as to the number of corporate tie-ups even in the IC days, which have only got better. With two good CMDs and their teams, things have looked up like anything. What keeps it down is the incredible debt quagmire, which will perhaps take a lifetime to come out of, it not more. Second, the political meddling does not help one bit.
At the same time, most of the FFPs of Indian FSCs are not fantastic, admittedly.
iah87 wrote:
And add to that Indigo and to less extent other budget carriers added so many numerous flights...
Indigo's dumping capacity is an important factor: very true. However, please have a look at Indigo's fares. They are often not the least on many sectors, and in many cases, are more than the FSC ones.
Jet has had its own incredible problems, prime among which was the rampant mis-management.
Cheers, Sumantra.
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sumantra
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PostPosted: Fri Apr 19, 2019 11:55 pm    Post subject: Reply with quote

The_Goat wrote:
Oh yeah?

Why don't you tell that to the Lufthansas, Emirates, Qatar Airways, British Airways or the Air France-KLMs of the world who have absolutely no problem filling the fronts of their cabins with gold, silver or platinum card holding Indians on their flights to India?

Building a big business is as much about imagination and vision, as it is about finance, economics and marketing. Why don't we just accept the fact that other than a certain long-dead J.R.D.Tata, no other Indian business person has been able to have the vision, imagination or even the basic competence to run a quality, full-service airline in India? Most of them have been simply either driven by hubris or needed a outlet to launder their dirty stuff as the main reasons for starting airlines. Naresh Goyal is just another one of those.

What were Jet's managers doing when the company was running up debts like nobody's business? You don't run a debt of 8500 crores INR overnight. Didn't they have the brains or even the common sense to see what was coming? Even small time shopkeepers know how to manage debt and optimise their overheads. And these overpaid fat cats didn't have a clue?

In the end I feel only for Jet's 20,000 odd employees who haven't received their salaries for months. They put their futures and worked their asses off for a bunch of incompetent top brass, all of whom must have been well provided for.
Brilliantly put, Sir. Indeed, one feels for the loyal employees: and yes, there is a very large number of them. Indeed.
Cheers, Sumantra.
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747-237
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PostPosted: Sat Apr 20, 2019 8:46 am    Post subject: Reply with quote

The finance ministry has decided to waive the mandatory customs requirement that Jet's grounded planes in India must first be sent to the country of registration of their lessors and then fly them back to India before they can be used by other carriers. This will speed up lease of Jet planes to other airlines.


https://timesofindia.indiatimes.com/business/india-business/jet-crisis-govt-eases-rule-to-moderate-fares/articleshow/68961225.cms
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Jaysit
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PostPosted: Mon Apr 22, 2019 4:55 am    Post subject: Reply with quote

At the end of the day, the market reacts quickly to opportunities.

Jet may have had the makings of a great airline (it's long haul J class service was very polished, and it gave Indian flyers and foreign visitors a much needed alternative to the stodgy rot that IC/AI had provided for decades), but you don't rack up a $1.3 Billion debt overnight. This crisis was long coming. RIP Jet.

I hope the Indian legal system provides redress in court to the thousands who were denied salaries. They're the aggrieved parties in this horror.

Also, this is a telling moment for the Indian aviation sector. If, after Jet's collapse, other private entities and foreign carriers pick up the slack (as well as Jet's employees), it's a testament to the primacy of market forces. Which should make everyone question the existence of Air India and its even larger taxpayer funded debts. Indeed, here is no need for Air India in its current avatar. As a publicly funded enterprise, it too needs to vanish into the shadows of history. The Indigos, SpiceJets, Vistaras, etc., will move in, and pick up the slack. And if they can't compete, others will.
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iah87
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PostPosted: Tue Apr 23, 2019 2:03 am    Post subject: Reply with quote

The_Goat wrote:
iah87 wrote:
Full service carriers in India:

Main reason is Indians don't care about frequent flyer miles and affiliations they only look at the price. Jet was attracting a few corporate travelers but was not enough.


Oh yeah?

Why don't you tell that to the Lufthansas, Emirates, Qatar Airways, British Airways or the Air France-KLMs of the world who have absolutely no problem filling the fronts of their cabins with gold, silver or platinum card holding Indians on their flights to India?



There are who are loyal to certain carriers but they are in a minority.

I still stand by my statement that majority of the Indians don't care about frequently flyer affiliations at least for domestic air travel. Indigo, Spice, Go Air and AirAsia command more than 75% of the market and none of them have a frequent flyer program and majority of the Indians still choose the flights on cost only and sometimes for convenience (nonstop flights, time of the day etc.).

Even for flights outside the country, especially to Middle East and SE Asia the passengers choose on cost only.


I visit India often at least 2 to 3 times a year and interact with many who simply don't care to even collect frequent flyer miles on AI or EK. While I try to stick to AI for the Star gold benefits, many are not even aware of the status that one can get, even they travel internationally, some quite frequently. And that is true even for some of the Indians who live in US too.
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Aseem
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PostPosted: Tue Apr 23, 2019 4:34 am    Post subject: Reply with quote

found a very interesting video

https://dms.licdn.com/playback/C4E05AQFGYZklGQFI7Q/65f80252fc6e4e118e871569e1c91dfa/feedshare-mp4_3300-captions-thumbnails/1507940147251-drlcss?e=1556060400&v=beta&t=GOKRWi_alVIKQvDsK5-W0iCtNW-9ctSFuttJC8rrJnU

VT-ASJ
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Jaysit
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PostPosted: Tue Apr 23, 2019 4:48 am    Post subject: Reply with quote

iah87 wrote:
The_Goat wrote:
iah87 wrote:
Full service carriers in India:

Main reason is Indians don't care about frequent flyer miles and affiliations they only look at the price. Jet was attracting a few corporate travelers but was not enough.


Oh yeah?

Why don't you tell that to the Lufthansas, Emirates, Qatar Airways, British Airways or the Air France-KLMs of the world who have absolutely no problem filling the fronts of their cabins with gold, silver or platinum card holding Indians on their flights to India?



There are who are loyal to certain carriers but they are in a minority.

I still stand by my statement that majority of the Indians don't care about frequently flyer affiliations at least for domestic air travel. Indigo, Spice, Go Air and AirAsia command more than 75% of the market and none of them have a frequent flyer program and majority of the Indians still choose the flights on cost only and sometimes for convenience (nonstop flights, time of the day etc.).

Even for flights outside the country, especially to Middle East and SE Asia the passengers choose on cost only.


I visit India often at least 2 to 3 times a year and interact with many who simply don't care to even collect frequent flyer miles on AI or EK. While I try to stick to AI for the Star gold benefits, many are not even aware of the status that one can get, even they travel internationally, some quite frequently. And that is true even for some of the Indians who live in US too.


I'm sure your statistical methods are beyond reproach, but the truth is that airlines care about premium passengers, and corporate travelers who tend to pay higher fares than those who buy the cheapest seats on the likes of Kuwait Airways or Aeroflot. And those pax are often very airline or mileage plan loyal.
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Aseem
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PostPosted: Tue Apr 23, 2019 5:46 am    Post subject: Reply with quote

In all this debate we forget that airlines need to keep their cost structure down. Once there, they can enjoy the liberty of offering liberal reward miles and other sops. These are the thing that can be reduced or withdrawn without much deliberation.

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luvleen
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PostPosted: Tue Apr 23, 2019 10:48 am    Post subject: Reply with quote

Jet Airways suitors find no slot to invest in

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/jet-airways-suitors-find-no-slot-to-invest-in/articleshow/68999353.cms

As expected, with planes being taken back and slots being re-allocated, there is hardly any value left in 9W. Most parties who submitted an EoI are expected to back out.
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The_Goat
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PostPosted: Tue Apr 23, 2019 11:03 pm    Post subject: Reply with quote

luvleen wrote:
Jet Airways suitors find no slot to invest in

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/jet-airways-suitors-find-no-slot-to-invest-in/articleshow/68999353.cms

As expected, with planes being taken back and slots being re-allocated, there is hardly any value left in 9W. Most parties who submitted an EoI are expected to back out.


This is completely idiotic.

I don't know why the GoI does not freeze Jet's slots and refrain from allocating them to other carriers till such time that an investor is found. By reallocating slots, they are only ensuring that nobody will buy the airline and that the Indian taxpayer will have to kiss a goodbye to the 8500 crores owed by Jet.
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PostPosted: Wed Apr 24, 2019 11:19 am    Post subject: Reply with quote

Etihad concludes due diligence process for Jet Airways bid

As per this article, slots are being reallocated for a period of 3 months only. Doesn;t make sense this temporary allocation. On the other hand, EY may bid in conjunction with other potential suitors.

https://www.businesstoday.in/current/corporate/jet-airways-etihad-concludes-due-diligence-process/story/339894.html

Quote:
Abu Dhabi based Etihad Airways has concluded the due-diligence process before it places its financial bid for acquiring Jet Airways. The other two potential bidders- TPG Capital and the National Investment and Infrastructure Fund (NIIF) have also started their respective processes and are expected to bid jointly with Etihad.

SBI Caps last week had opened the window for potential bidders to examine the books of Jet Airways. The lenders now have set May 10 deadline for submitting the binding financial bids, the Hindu Business Line reported.

"Jet Airways has provided a data room where all the necessary documents, information and data related to the airline's assets, debt, costs, governance information and information on employee strength among other things have been opened up for the bidders," a source told the news daily. The bidding process according to the source is going ahead and none of the shortlisted companies as yet have said that they are withdrawing from it.

This comes at a time when the Civil Aviation Ministry is trying to calm the frayed nerves of potential bidders by saying that the vacated slots would be allocated to other airlines on an interim basis for three months and would be turned about once Jet Airways resumes operations.

While, the National Aviator's Guild (NAG), the pilot body of Jet, has also planned to exercise the provisions of the Industrial Dispute Act to continue with its demand for salary dues payment. This can be a precursor to NAG filing a plea with the National Company Law Tribunal (NCLT), the report said. The pilot body earlier this week had organised an open house in Mumbai to discuss the same.

An NAG committee member said that the pilot body so far has followed all the procedures specified in the act and has also escalated the letter written to the Labour Ministry. However, going to the NCLT would be the next step for it.
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747-237
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PostPosted: Thu Apr 25, 2019 6:28 am    Post subject: Reply with quote

https://www.reuters.com/article/boeing-results-jet/update-1-boeing-axes-210-orders-after-indias-jet-stops-flying-idUSL5N22666F

Boeing axes 210 orders after India's Jet stops flying

April 24

Boeing Co removed 210 aircraft from its order backlog and took an impairment charge over customer financing losses on Wednesday following the near-collapse of India’s Jet Airways.

The adjustment pushed the world’s largest planemaker behind European rival Airbus in the race for business this year as both companies grappled with cancellations that outweighed new orders in the first quarter.

Under recent changes in accounting rules, Boeing hives off orders that no longer meet its criteria for recognising revenue into a separate category, while defending contractual claims.

As a result, Boeing net orders for the first quarter slid into negative territory, with a total of minus 119 net orders after cancellations, despite a slew of new wide-body sales.

Airbus posted a negative total of 58 net orders over the same period.

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PostPosted: Fri May 10, 2019 11:07 pm    Post subject: Etihad submits binding bid for Jet Airways ahead of deadline Reply with quote

Etihad submits binding bid for Jet Airways ahead of deadline

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/etihad-submits-binding-bid-for-jet-airways-ahead-of-deadline/videoshow/69270840.cms
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PostPosted: Sat May 11, 2019 12:25 pm    Post subject: Re: Etihad submits binding bid for Jet Airways ahead of dead Reply with quote

Sandy29 wrote:
Etihad submits binding bid for Jet Airways ahead of deadline

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/etihad-submits-binding-bid-for-jet-airways-ahead-of-deadline/videoshow/69270840.cms


Hmmm.... interesting development.

How are Etihad, as a foreign entity, going to deal with the fact that they cannot acquire more than 49% of Jet as per Indian laws? Or will any Indian party step up with the remaining 51%, given that Etihad is obviously interested?
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PostPosted: Mon May 13, 2019 4:00 pm    Post subject: Reply with quote

Etihad says it can only invest Rs 1,700 crore in Jet Airways

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/etihad-says-it-can-only-invest-rs-1700-crore-in-jet-airways/articleshow/69300155.cms

Quote:
The conditions put out by Etihad leave little scope for Jet Airways to pin their hopes on the Gulf carrier as its saviour

As a minority shareholder, Etihad can only bring in cash required to retain its stake of 24%


Apparently EY has put a non-binding bid with plenty of conditions
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747-237
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PostPosted: Tue May 14, 2019 5:01 pm    Post subject: Reply with quote

Two former Jet Airways A330-300s, VT-JWS & VT-JWT have been ferried out of BOM today.
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PostPosted: Sat May 18, 2019 1:28 pm    Post subject: Reply with quote

One of the former Jet Airways 777-300ER, VT-JEQ (& VT-JEJ before that) parked at BOM, has now received new (Austrian) registration as OE-IIJ.

VT-JEJ -> To Gulf Air as VT-JEJ -> To Thai as HS-TKJ -> To Jet Airways as VT-JEQ -> To ? (after collapse) as OE-IIJ
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PostPosted: Wed May 22, 2019 7:56 am    Post subject: Reply with quote

https://timesofindia.indiatimes.com/business/india-business/hinduja-looks-to-team-up-with-etihad-for-jet/articleshow/69436467.cms

Hinduja looks to team up with Etihad for Jet

May 22, 2019

The automotive-to-banking Hinduja conglomerate is “evaluating the Jet Airways opportunity”, its spokesperson said on Tuesday.

If successful, it will mark the enterprise’s foray into the aviation sector. The group, owned by the Indian-origin Hinduja brothers, however, has a small presence in a related sector, that is hospitality. It is the co-owner of a five-star property in Mumbai and is in the process of opening a luxury hotel in London.

While details about Hinduja’s proposed bid for Jet are not known, the lenders to the cash-strapped carrier are desperate to sell the asset. Jet owes $1.2 billion to banks. According to banking sources, Hinduja has shown interest in partnering Etihad — a stakeholder in the airline.

Etihad has submitted a non-binding bid to the lenders offering Rs 1,700 crore. However, concern over liabilities had resulted in the Abu Dhabi-based carrier being not interested in increasing stake from 24%. Hinduja’s plan is to enable Etihad further its interest and address its concern and at the same time generate value for itself. Jet Airways’ shares rose 15% to close at Rs 151 on the BSE.

The lenders had stopped providing further funds to the airline, after which Jet was left with no option but to shut down. The ceasing of operations last month led to job losses and reallocation of valuable airport slots to its rivals, among other things. These developments further eroded carrier’s value.

The Hinduja brothers, ranked Britain’s wealthiest, control over 50 companies with a turnover of 40 billion pounds. Besides automotive and banking, the enterprise, founded during the pre-Indian independence era, is into IT, infrastructure, power, real estate, oil & gas, media, entertainment and healthcare. The group has a presence in over 30 countries and it employs over 1.5 lakh people. In the past, the enterprise had looked at acquiring Air India, which was put up for disinvestment by the government.

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PostPosted: Thu May 30, 2019 8:17 am    Post subject: Reply with quote

Meanwhile, the creditors of the airline hit a roadblock with their plan to repay a USD30 million loan from EXIM Bank and take ownership of six B777-300(ER) financed by the US bank. Live Mint has reported that following a lawsuit filed by a cargo handler, Worldwide Flight Services, a Dutch court seized one of the Boeing widebodies, VT-JEW (msn 35164).

"The Dutch court ruling has made the refinancing deal of the aircraft problematic since the overall recovery will be much less with a plane missing from the original count of six," a source said.


https://www.ch-aviation.com/portal/news/78516-jet-founder-held-in-india-dutch-court-seizes-b777
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PostPosted: Sun Jun 02, 2019 9:31 am    Post subject: Reply with quote

Airlines have started to take over aircraft belonging to Jet Airways grounded at Chennai airport. The airport now has six Jet Airways planes — five ATR planes and one B777.
Sources said Air India may take the B777 plane at Chennai airport. “It is not confirmed but the national carrier uses the same class of planes in its fleet. It looks like other planes will also be handed over to airlines which has ATRs in their fleet.”


https://timesofindia.indiatimes.com/city/chennai/grounded-jet-planes-being-flown-out-for-use-under-new-airlines/articleshow/69615444.cms
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PostPosted: Sun Jun 02, 2019 7:38 pm    Post subject: Reply with quote

747-237 wrote:
Airlines have started to take over aircraft belonging to Jet Airways grounded at Chennai airport. The airport now has six Jet Airways planes — five ATR planes and one B777.
Sources said Air India may take the B777 plane at Chennai airport. “It is not confirmed but the national carrier uses the same class of planes in its fleet. It looks like other planes will also be handed over to airlines which has ATRs in their fleet.”


https://timesofindia.indiatimes.com/city/chennai/grounded-jet-planes-being-flown-out-for-use-under-new-airlines/articleshow/69615444.cms


When I visited India in Feb/Mar this year, I saw a 9W 77W parked in a remote stand in MAA. It looked like it was missing its engines.

If it is the same one the article is talking about, then it has been out of action for a while now.
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PostPosted: Mon Jun 03, 2019 1:15 pm    Post subject: Reply with quote

The_Goat wrote:
When I visited India in Feb/Mar this year, I saw a 9W 77W parked in a remote stand in MAA. It looked like it was missing its engines.
If it is the same one the article is talking about, then it has been out of action for a while now.
Sir, if rumours are to be believed, this one has been heavily cannibalised for parts. Rumour has it that this was one of the specific reasons why Team Lohani had backed out of trying to acquire 9W B77Ws after quickly moving papers to evince an interest for the same. The internal report came back with a damning conclusion, that AI would have to spend a huge amount to get these cannibalised birds back into the air.
Cheers, Sumantra.
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PostPosted: Mon Jun 03, 2019 11:40 pm    Post subject: Reply with quote

sumantra wrote:
The_Goat wrote:
When I visited India in Feb/Mar this year, I saw a 9W 77W parked in a remote stand in MAA. It looked like it was missing its engines.
If it is the same one the article is talking about, then it has been out of action for a while now.
Sir, if rumours are to be believed, this one has been heavily cannibalised for parts. Rumour has it that this was one of the specific reasons why Team Lohani had backed out of trying to acquire 9W B77Ws after quickly moving papers to evince an interest for the same. The internal report came back with a damning conclusion, that AI would have to spend a huge amount to get these cannibalised birds back into the air.
Cheers, Sumantra.


Interesting...
So how many of their 77Ws have been cannibalised for parts? Two are outside India (the ex-VT-JEQ and VT-JEW), and I would assume these are airworthy. Barring the one in MAA, how many of the remaining 7 are in a shape good enough to evince the interest of potential buyers (Not the ones wanting to send them off to VCV for parting out, that is)?
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PostPosted: Tue Jun 04, 2019 11:27 am    Post subject: Reply with quote

The_Goat wrote:
Interesting...
So how many of their 77Ws have been cannibalised for parts? Two are outside India (the ex-VT-JEQ and VT-JEW), and I would assume these are airworthy. Barring the one in MAA, how many of the remaining 7 are in a shape good enough to evince the interest of potential buyers (Not the ones wanting to send them off to VCV for parting out, that is)?
No idea Sir, but the swiftness with which AI went through the official (Government) steps of evincing their interest in the B77Ws, followed by an equally swift turn-around the moment a detailed internal report came in with some gory details, perhaps suggests a scary situation with regard to the 7 others. Remember that AI is struggling with delays in funds coming in, which have in turn led to delays in the long-standing requirements for spare parts, whose requirements were put it well in time. B77Ws in good shape would have benefited AI to no end.
Cheers, Sumantra.
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PostPosted: Tue Jun 04, 2019 11:44 am    Post subject: Reply with quote

On the day that 9W ceased international operations, at-least 8 out of their 10 B777s were operational, flying the AMS and LHR routes. IMO, there wouldnt have been much scope for cannibalisation of the other 777s (to keep others flying)

Only that single 777 was put into long-term storage at MAA, quite a few months before FEB 2019, and is likely to have been cannibalised for spares, IMO.
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PostPosted: Wed Jun 05, 2019 8:13 am    Post subject: Reply with quote

GF1011 wrote:
On the day that 9W ceased international operations, at-least 8 out of their 10 B777s were operational, flying the AMS and LHR routes. IMO, there wouldnt have been much scope for cannibalisation of the other 777s (to keep others flying)
Only that single 777 was put into long-term storage at MAA, quite a few months before FEB 2019, and is likely to have been cannibalised for spares, IMO.

Thank you GF1011, for this piece of information. I wonder what prompted the internal report at AI, to do a volte-face. Unless the internal report had been damning enough, Team Lohani had secured the correct steps to acquire the birds, unless the internal report (which they were waiting for, in the meanwhile) went against it. Were the birds flying, but almost threadbare in terms of the spares inventory, and the maintenance logs suspect? I guess we will never know!
Cheers, Sumantra.
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PostPosted: Wed Jun 05, 2019 11:56 am    Post subject: Reply with quote

You're welcome SumantraJi.

I should also point out that 9W's 777 fleet went into Long maintenance, one-at-a-time, during 2017-2018, IIRC. During this period, all remaining nine 777s were flying. (There were rumours that 9W was looking to launch their second DEL-LHR once the tenth bird became available, if AI conceded the rights). Im not sure, but it seems like, once all 10 planes completed their MX towards the end of 2018, the 10th plane was put into storage while 9W waited to get the rights to DEL-LHR.

The maintenance checks on 9W's 777s (I'm not sure if it were C-Checks or something else) were carried out by AI's engineering arm itself, at the Kalina Hangars at BOM. I guess, if there was any organisation apart from 9W that knew of the condition of 9W's 777s, it would have been AI itself.
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PostPosted: Wed Jun 05, 2019 12:04 pm    Post subject: Reply with quote

GF1011 wrote:
I should also point out that 9W's 777 fleet went into Long maintenance, one-at-a-time, during 2017-2018, IIRC. During this period, all remaining nine 777s were flying. (There were rumours that 9W was looking to launch their second DEL-LHR once the tenth bird became available, if AI conceded the rights). Im not sure, but it seems like, once all 10 planes completed their MX towards the end of 2018, the 10th plane was put into storage while 9W waited to get the rights to DEL-LHR.

The maintenance checks on 9W's 777s (I'm not sure if it were C-Checks or something else) were carried out by AI's engineering arm itself, at the Kalina Hangars at BOM. I guess, if there was any organisation apart from 9W that knew of the condition of 9W's 777s, it would have been AI itself.

Thank you, all this detail is interesting, and extremely informative!
Cheers, Sumantra.
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PostPosted: Thu Jun 06, 2019 6:20 pm    Post subject: Reply with quote

At this point it looks like the return of Jet airways is very bleak. The potential investors were supposed to decide by end of May and so far no meetings have been held. Appears that SBI and other banks are content on writing this off. As time goes on Jet will fade away into oblivion just like Kingfisher.
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PostPosted: Thu Jun 13, 2019 8:47 am    Post subject: Reply with quote

https://www.financialexpress.com/industry/jet-airways-likely-to-lose-boeing-777-fleet-as-us-lender-bank-approaches-dgca/1605949/

Jet Airways likely to lose Boeing 777 fleet as US lender bank approaches DGCA

June 13, 2019

Jet Airways could lose its wide-body Boeing 777 fleet as its lender US Export-Import (Exim) Bank has written to the Directorate General of Civil Aviation (DGCA) to de-register the aircraft, people aware of the development said.

Jet possessed 10 B777-300 ER aircraft, which were funded by the Washington-based bank in 2005-06. Six of those Boeing aircraft were given as collateral for the loan. The full-service carrier has remaining liability of around `200 crore towards the official export credit agency of the US. The current list price of new Boeing 777-300 ER aircraft is around `2,600 crore at the current exchange rates.

“A request has been sent to deregister B777 aircraft,” one of the person cited above said. According to sources, the US Exim Bank is likely to give the planes to Air India for preventive maintenance. Air India already houses one B777 aircraft from Jet’s fleet at its maintenance, repair and overhaul (MRO) facility in Nagpur facility.

“Under preventive maintenance, checks like turning engine on-off for some time are conducted daily,” an Air India official explained.

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PostPosted: Thu Jun 13, 2019 1:53 pm    Post subject: Reply with quote

These airports faced the maximum brunt of Jet Airways closure

In April, India recorded a slump in traffic for the first time after mid-2013. The month-over-month passenger traffic in domestic skies declined by 4.5 percent. For a market that has seen a growth of 20 percent on the back of rapid induction in capacity, this was a huge setback.

The setback was on the back of the suspension of Jet Airways on April 17. The airline was huffing and puffing since February and was on its last legs in March. The crisis started in October looked steady and controlled until February, after which it went into a whirlwind spiral beyond recovery.

While airlines have been quickly filling up gaps, inducting aircraft and adding flights across their networks, there are some airports which have been hit harder than others. Sectors like Mumbai–Delhi that had a considerable share of Jet Airways flights at its peak is back with nearly the same number of flights and equal or more seats (since some flights added are by LCCs with all economy configurations, leading to higher seats per flight).
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PostPosted: Fri Jun 14, 2019 10:07 am    Post subject: Reply with quote

ameya wrote:
These airports faced the maximum brunt of Jet Airways closure
Nice and informative article as always, Sir!
Cheers, Sumantra.
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PostPosted: Mon Jun 17, 2019 9:39 pm    Post subject: Reply with quote

https://www.indiatoday.in/business/story/jet-airways-will-now-be-settled-in-nclt-1550709-2019-06-17

End of road for Jet airways as banks give up, chose to send it to bankruptcy court

June 17, 2019

It's the end of the road for Jet Airways. The consortium of banks led by State Bank of India (SBI) has now decided to approach the NCLT (National Company Law Tribunal) for resolution on Jet Airways.

For the last couple of weeks there were talks that the Hinduja Group would join hands with Etihad and present a revival plan, but that according to sources didn't materialise. Since there were no other credible investors in sight the banks deemed it fit to approach NCLT.

The State Bank of India in an evening release confirmed the developments.

A meeting of lenders was held today to consider the way forward in respect of Jet Airways. After due deliberations, lenders have decided to seek resolution under IBC since only a conditional bid was received and requirement of the investor for SEBI exemptions and resolution of all creditors is possible under IBC.

Lenders led by SBI have been taking efforts to find a resolution for Jet Airways outside IBC but in view of the above, they have decided to seek a resolution within the IBC process.

Experts maintain that now a resolution professional would be appointed who will have 270 days in hand to seek a prospective resolution for the airline before the last resort of liquidation is carried out.

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PostPosted: Tue Jul 02, 2019 5:15 am    Post subject: Reply with quote

Jet Airways crisis: Hindujas likely to bid for grounded airline in a week

https://www.financialexpress.com/industry/jet-airways-crisis-hindujas-likely-to-bid-for-grounded-airline-in-a-week/1625326/

Quote:
The Hinduja group is likely to put a formal bid for crisis-ridden Jet Airways as early as this week, sources said. Ongoing discussions between the Hinduja group, Etihad Airways and lenders to Jet Airways gathered steam after June 20, when the National Company Law Tribunal (NCLT) had passed an order, initiating insolvency proceedings against the grounded airline.

“Discussions have been fast-tracked with the insolvency plea being filed. We had been working with an internal deadline of mid-July to finalise the details, but a formal bid could be submitted to the interim resolution professional this week itself,” said a source.

“Etihad Airways has worked consistently to find a solution which would enable Jet Airways to be reactivated as a viable entity. We will continue to constructively evaluate participation in potential solutions,” a spokesperson from the Abu Dhabi-based airline had said earlier.

On June 17, State Bank of India (SBI) had decided to file the insolvency plea against Jet Airways. “Lenders have decided to seek resolution under IBC (the Insolvency and Bankruptcy Code) since only a conditional bid was received and requirement of the investor for Sebi (Securities and Exchanges Board of India) exemptions and resolution of all creditors is possible under IBC,” SBI had said in a statement.

According to SBI’s plea, the bank had extended loans worth Rs 1,729.21 crore to Jet Airways. The airline has outstanding working capital debt worth over Rs 462 crore with the bank. It also owes over Rs 550 crore towards pending salaries to its pilots and over Rs 6.70 crore to two operational creditors, who have been made party to the insolvency petition.

The court-appointed interim resolution professional has invited all creditors to file their claims by July 4 and will submit the first fortnightly report on July 5. Lenders, including IDBI Bank and Punjab National Bank, reportedly have outstanding debt worth Rs 8,000 crore from Jet Airways, while dues with operational creditors are much larger.

The lenders of the defunct airline had sought bids for a majority stake in the airline in April. Etihad Airways, Jet’s strategic partner, was the only serious party to show any interest, but it put multiple conditions. Lenders were not keen on bids received from several unsolicited bidders. Last week, London-based Adi Group announced that it would be bidding for a 75% stake in Jet Airways, along with a section of employees of the airline. According to several reports, the Tata group is considering bidding for assets of the airline, should it go into liquidation.

Jet Airways halted operations on April 17 after lenders had rejected its request to provide emergency funding. The civil aviation ministry has allotted a significant portion of the airline’s slots in major airports to other scheduled carriers. The slots, which were initially reallocated for three months, will now be extended until October. The airline has also seen a slew of resignations from the top management since May 13.


Can they still bid after 9W has gone NCLT? On the other hand, Tatas are looking to bid for 9W assets to help expand Vistara and Air Asia.

https://www.asiatimes.com/2019/07/article/indias-tata-eyes-grounded-jet-airways/
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PostPosted: Wed Jul 03, 2019 8:01 pm    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/79378-jetlites-last-aircraft-gone-jet-staff-try-to-save-parent

JetLite's last aircraft gone

01.07.2019

JetLite's last remaining aircraft has been removed from the Indian register, ch-aviation research has revealed. Formerly VT-JGJ (msn 32578), the 17.7-year-old B737-800 is owned by GECAS and has already been added to the Austrian register as OE-IBT. It is currently stored at Mumbai Int'l.

The ch-aviation fleets advanced module shows that JetLite's parent carrier, Jet Airways, still has five registered aircraft - two A330-200s, two B737-800s, and a single B737-900 - despite having been grounded since mid-April of this year.

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