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Jet Airways News -- Part 15
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747-237
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PostPosted: Wed Sep 19, 2018 3:50 pm    Post subject: Reply with quote

https://www.cnbctv18.com/aviation/jet-airways-stops-free-meal-service-for-economy-light-and-economy-deal-flyers-858061.htm

Jet Airways stops free meal service for 'economy light' and 'economy deal' flyers

Sep 19, 2018

Jet Airways has eliminated complimentary meals option for passengers, who choose to fly in 'economy light' and 'economy deal' within India after September 25.

Flyers, however, can buy their meals on-board from the airline's menu. The customers will be served beverages - including tea and coffee - for free, Jet Airways said in a statement.

Till date, the meal bill was included in the ticket fare for all the flyers, making the meals complimentary during the flight.

But following the exclusion of free meal from September 25, the air tickets for the two categories - 'economy light' and 'economy deal' will be cheaper than the other categories.

The flight+meal option for domestic flights will remain for 'economy saver', 'economy classic' and 'economy flex' and for all fare options in Premiere. On international flights, all features and benefits under First Class, Premičre and Economy remain unchanged.

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iah87
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PostPosted: Wed Sep 19, 2018 6:42 pm    Post subject: Reply with quote

It is time that AI also follows this. Cut out meals for all except full fare or non discounted economy fliers for all domestic flights under 3 hours and introduce buy on board.
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747-237
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PostPosted: Thu Sep 27, 2018 12:31 pm    Post subject: Reply with quote

Jet Airways has added a new 737-8MAX to the fleet today, as VT-JXE.
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747-237
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PostPosted: Mon Oct 01, 2018 3:19 pm    Post subject: Reply with quote

Jet Airways / Malaysia Airlines expands codeshare network from late-Sep 2018

Jet Airways and Malaysia Airlines in late-September 2018 expanded codeshare partnership, covering service domestic routes within India, as well as service between Malaysia and India via South East Asia.

Approximately effective from 27SEP18 (or earlier), planned new codeshare routes include the following.

Jet Airways operated by Malaysia Airlines
Kuala Lumpur – Bangkok
Kuala Lumpur – Hong Kong
Kuala Lumpur – Singapore

Malaysia Airlines operated by Jet Airways
Hyderabad – Bangalore
Mumbai – Ahmedabad
Mumbai – Aurangabad
Mumbai – Bangalore
Mumbai – Bangkok
Mumbai – Chennai
Mumbai – Delhi
Mumbai – Goa
Mumbai – Hong Kong
Mumbai – Hyderabad
Mumbai – Jaipur
Mumbai – Kochi
Mumbai – Kolkata
Mumbai – Singapore


Source: Airlineroute.net
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iah87
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PostPosted: Wed Oct 03, 2018 5:49 am    Post subject: Reply with quote

747-237 wrote:
Jet Airways / Malaysia Airlines expands codeshare network from late-Sep 2018

Jet Airways and Malaysia Airlines in late-September 2018 expanded codeshare partnership, covering service domestic routes within India, as well as service between Malaysia and India via South East Asia.

Approximately effective from 27SEP18 (or earlier), planned new codeshare routes include the following.

Jet Airways operated by Malaysia Airlines
Kuala Lumpur – Bangkok
Kuala Lumpur – Hong Kong
Kuala Lumpur – Singapore

Malaysia Airlines operated by Jet Airways
Hyderabad – Bangalore
Mumbai – Ahmedabad
Mumbai – Aurangabad
Mumbai – Bangalore
Mumbai – Bangkok
Mumbai – Chennai
Mumbai – Delhi
Mumbai – Goa
Mumbai – Hong Kong
Mumbai – Hyderabad
Mumbai – Jaipur
Mumbai – Kochi
Mumbai – Kolkata
Mumbai – Singapore


Source: Airlineroute.net


While Indigo is introducing flights to KUL from DEL and BLR, Jet is still doing code shares. When will Jet fly to KUL, it has much better chance Indigo to succeed as it runs more of a hub and spoke operation in addition to code shares in the KUL end. Best bet is to fly from BOM or MAA to KUL.
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PostPosted: Sun Oct 07, 2018 2:52 pm    Post subject: Reply with quote

Is Jet in talks with TK over leasing out its aircrafts again?
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747-237
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PostPosted: Sun Oct 07, 2018 4:52 pm    Post subject: Reply with quote

justbala wrote:
Is Jet in talks with TK over leasing out its aircrafts again?


Oman Air.


747-237 wrote:
https://www.financialexpress.com/industry/jet-airways-in-talks-to-lease-a330s-boeing-737s-to-oman-air/1310251/

Jet Airways in talks to lease A330s, Boeing 737s to Oman Air

September 12, 2018

Jet Airways is in talks with Muscat-based Oman Air to wet-lease three of its widebody aircraft, the A330s, and few of its narrowbody Boeing 737s, sources in the know of the discussions told FE. The number of the Boeing737 aircraft to be leased, however, could not be ascertained. Nearly 150 of Jet’s cabin crew have already been interviewed for the same.

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PostPosted: Sun Oct 07, 2018 5:08 pm    Post subject: Reply with quote

747-237 wrote:
justbala wrote:
Is Jet in talks with TK over leasing out its aircrafts again?


Oman Air.


747-237 wrote:
https://www.financialexpress.com/industry/jet-airways-in-talks-to-lease-a330s-boeing-737s-to-oman-air/1310251/

Jet Airways in talks to lease A330s, Boeing 737s to Oman Air

September 12, 2018

Jet Airways is in talks with Muscat-based Oman Air to wet-lease three of its widebody aircraft, the A330s, and few of its narrowbody Boeing 737s, sources in the know of the discussions told FE. The number of the Boeing737 aircraft to be leased, however, could not be ascertained. Nearly 150 of Jet’s cabin crew have already been interviewed for the same.


Oman Air is done deal. I believe there is a new move by 9W with leasing out to TK.
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747-237
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PostPosted: Sun Oct 07, 2018 5:14 pm    Post subject: Reply with quote

justbala wrote:

Oman Air is done deal. I believe there is a new move by 9W with leasing out to TK.


Okay, good to know - Jet Leasing is starting up again ! Smile
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PostPosted: Sun Oct 07, 2018 7:52 pm    Post subject: Reply with quote

iah87 wrote:
While Indigo is introducing flights to KUL from DEL and BLR, Jet is still doing code shares. When will Jet fly to KUL, it has much better chance Indigo to succeed as it runs more of a hub and spoke operation in addition to code shares in the KUL end. Best bet is to fly from BOM or MAA to KUL.
The India-Malaysia market is LCC-dominated, and most of the FSC market has already been long cornered by MH. No Indian FSC will stand much of a chance in this cut-throat competition, having entered late.
Cheers, Sumantra.
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PostPosted: Mon Oct 08, 2018 7:01 pm    Post subject: Reply with quote

Why has 9W exited out of the Kerala-MCT sectors? From 9W staff I understood these were making good money.
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PostPosted: Mon Oct 08, 2018 8:07 pm    Post subject: Reply with quote

Jet Digitizes Upgrade Vouchers and Introduces Self Service Upgrade Process

Quote:
We have always endeavoured to offer simple and convenient solutions to enhance your experience when availing JetPrivilege programme features and benefits. To empower and enable you to better manage one of the key programme benefits viz. cabin upgrades, effective 12th October 2018, we will be introducing an enhanced experience for availing upgrades against your JPMiles or Cabin Upgrade Vouchers.
What are we enhancing?
Upgrade vouchers
Physical upgrade vouchers will be digitised and directly credited to your JetPrivilegeaccount under the ‘My JP Wallet’ section onjetprivilege.com, jetairways.com and Jet Airways mobile app

Availing upgrades
Do-It-Yourself - You can
now conveniently &
seamlessly upgrade using
your JPMiles / Upgrade
vouchers online any time
before you travel in
addition to an upgrade
through the JetPrivilege
Contact Centre and at
Airport counters
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PostPosted: Mon Oct 15, 2018 6:09 am    Post subject: Reply with quote

https://www.dnaindia.com/business/report-jet-airways-grounds-three-planes-to-curtail-cash-burn-2675404

Jet Airways grounds three planes to curtail cash burn

Oct 15, 2018

An industry source, who spoke to DNA Money on condition of anonymity, said, "Three A330s have been grounded: one in Chennai, one in Abu Dhabi and one in an undisclosed location in Europe. Hence six routes have been reduced. The aircraft could have been grounded for reducing capacity, and not routes".
The source told DNA Money the grounding of the aircraft could have been done to prune capacity by merging flights with negative operating margin on a route to cut costs, and thereby reduce losses.

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PostPosted: Fri Oct 19, 2018 10:37 am    Post subject: Reply with quote

https://www.cnbctv18.com/aviation/tata-group-wants-complete-control-of-jet-airways-rejects-part-ownership-report-1138121.htm

Tata group wants complete control of Jet Airways, rejects part-ownership: report

Oct 19, 2018

Tata Group rejected the initial proposal of part-ownership and joint control of crisis-hit Jet Airways as it wants complete control and the promoter Goyal family to exit the aviation company, The Economic Times reported.

The airline, according to the paper, has offered the Tatas 26 percent and some board-level positions, including vice-chairmanship. “The Tatas are interested in buying out the entire airline and significantly scaling up the existing business,” sources told the paper.

People familiar with the matter told the paper that Tata Group has made it clear to the representatives of the airline that it is interested in either an outright purchase of the entire company or all its assets such as aircraft and other infrastructure.

Tata, however, said it is not interested in the deal if Goyals, who have 51 percent stake in Jet, continue to retain significant control. Sources told the paper that if the talks with Jet bear fruit, the Tata will revamp its existing aviation ventures and align everything with Jet.

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PostPosted: Fri Oct 19, 2018 6:30 pm    Post subject: Reply with quote

are we seeing Jet, Vistara and Air Asia consolidating?

VT-ASJ
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PostPosted: Fri Oct 19, 2018 6:37 pm    Post subject: Reply with quote

747-237 wrote:
https://www.cnbctv18.com/aviation/tata-group-wants-complete-control-of-jet-airways-rejects-part-ownership-report-1138121.htm

Tata group wants complete control of Jet Airways, rejects part-ownership: report

Oct 19, 2018

Tata Group rejected the initial proposal of part-ownership and joint control of crisis-hit Jet Airways as it wants complete control and the promoter Goyal family to exit the aviation company, The Economic Times reported.

The airline, according to the paper, has offered the Tatas 26 percent and some board-level positions, including vice-chairmanship. “The Tatas are interested in buying out the entire airline and significantly scaling up the existing business,” sources told the paper.

People familiar with the matter told the paper that Tata Group has made it clear to the representatives of the airline that it is interested in either an outright purchase of the entire company or all its assets such as aircraft and other infrastructure.

Tata, however, said it is not interested in the deal if Goyals, who have 51 percent stake in Jet, continue to retain significant control. Sources told the paper that if the talks with Jet bear fruit, the Tata will revamp its existing aviation ventures and align everything with Jet.


Let's see. I think the Tatas are totally right in wanting control. The Goyals can either fully exit or maintain a small stake and MAYBE one board seat. But I think it is time for the Goyals to GO.
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PostPosted: Sat Oct 20, 2018 11:47 am    Post subject: Reply with quote

https://www.business-standard.com/article/companies/jet-airways-curtails-flights-to-save-cash-20-30-cancellations-daily-118101900968_1.html

Jet Airways curtails flights to save cash, 20-30 cancellations daily

Oct 20, 2018

Jet Airways is curtailing its daily operations to reduce cash burn. The airline is reducing domestic flights in the winter schedule beginning October end and has already begun cancelling flights.

Atleast 20-30 departures are being cancelled daily from metros and key airports including Ahmedabad, Bengaluru and Hyderabad. Aviation analysts point out grounding of planes and poor seat loads as probable reasons for the cancellations.

Thirteen of its planes including ATRs, Boeing 737s, Airbus A330s and Boeing 777 are on the ground. Jet Airways said that the planes are under maintenance. “As a part of the airline's routine operations the fleet including Boeing 737, Boeing 777, A330 and ATR aircraft are undergoing scheduled maintenance including C-checks,” the airline said.

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PostPosted: Sat Oct 20, 2018 11:48 am    Post subject: Reply with quote

https://www.livemint.com/Companies/m7dUCyoUUqV1NWuy4Fo4MO/Jet-Airways-sets-jet-sale-leaseback-plan-in-motion-to-raise.html

Jet Airways sets jet sale, leaseback plan in motion to raise $800 mn

Oct 20 2018

Jet Airways is in talks to raise as much as $800 million from the sale and leaseback (SLB) of 16 aircraft owned by the airline, according to a person close to the development.

The cash-strapped airline has 124 aircraft in its fleet, including 16 that it owns—10 Boeing 777, three Airbus A 330 and three Boeing 737. The rest are on lease.

The airline, owned by Naresh Goyal, is in talks with several parties for sale and leaseback of the 16 aircraft it owns and hopes to complete the process soon, said the person mentioned above, who didn’t want to be identified.

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PostPosted: Sat Oct 20, 2018 12:12 pm    Post subject: Reply with quote

747-237 wrote:
https://www.business-standard.com/article/companies/jet-airways-curtails-flights-to-save-cash-20-30-cancellations-daily-118101900968_1.html
[i]Jet Airways curtails flights to save cash, 20-30 cancellations daily
For those who haven't noticed, our Ameya Joshi has been quoted in this article.
Cheers, Sumantra.
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PostPosted: Tue Oct 23, 2018 5:55 am    Post subject: Reply with quote

Jet Airways expands Singapore service from Dec 2018

Jet Airways from December 2018 plans to increase Singapore operations, where it scheduled new Pune – Singapore nonstop flight, Subject to Government Approval.
From 01DEC18, Boeing 737-800 aircraft will operate this route on daily basis.

9W022 PNQ0510 – 1315SIN 73H D
9W021 SIN2100 – 0005+1PNQ 73H D

Coinciding with the new route launch, the airline will also introduce 3rd daily Delhi – Singapore flight from the same date.

9W020 DEL0100 – 0925SIN 73H D
9W018 DEL0920 – 1755SIN 73H D
9W016 DEL1130 – 2000SIN 73H D

9W019 SIN1115 – 1455DEL 73H D
9W015 SIN1415 – 1800DEL 73H D
9W017 SIN1940 – 2320DEL 73H D


Source: Airlineroute.net
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PostPosted: Thu Oct 25, 2018 3:59 pm    Post subject: Reply with quote

Jet Airways / Virgin Atlantic expands codeshare network from Nov 2018

Jet Airways and Virgin Atlantic from November 2018 is expanding reciprocal codeshare partnership, covering service via Manchester.
From 05NOV18, planned codeshare routes include the following.

Jet Airways operated by Virgin Atlantic
(Selected routes operates during summer season only)
Manchester – Atlanta
Manchester – Boston
Manchester – Las Vegas
Manchester – Los Angeles
Manchester – New York JFK
Manchester – Orlando

Virgin Atlantic operated by Jet Airways
Manchester – Mumbai


Source: Airlineroute.net
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PostPosted: Fri Oct 26, 2018 7:22 pm    Post subject: Reply with quote

Jet discontinues BLR-TRV, goes double daily on BOM-TRV

With this Jet has completely exited the BLR-Kerala routes. Sad
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PostPosted: Fri Oct 26, 2018 7:41 pm    Post subject: Reply with quote

justbala wrote:
Jet discontinues BLR-TRV, goes double daily on BOM-TRV

With this Jet has completely exited the BLR-Kerala routes. Sad


Only for ~10 days - 20-30 Nov.
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PostPosted: Fri Oct 26, 2018 11:25 pm    Post subject: Reply with quote

747-237 wrote:
https://www.cnbctv18.com/aviation/tata-group-wants-complete-control-of-jet-airways-rejects-part-ownership-report-1138121.htm

Tata group wants complete control of Jet Airways, rejects part-ownership: report

Oct 19, 2018

Tata Group rejected the initial proposal of part-ownership and joint control of crisis-hit Jet Airways as it wants complete control and the promoter Goyal family to exit the aviation company, The Economic Times reported.

The airline, according to the paper, has offered the Tatas 26 percent and some board-level positions, including vice-chairmanship. “The Tatas are interested in buying out the entire airline and significantly scaling up the existing business,” sources told the paper.

People familiar with the matter told the paper that Tata Group has made it clear to the representatives of the airline that it is interested in either an outright purchase of the entire company or all its assets such as aircraft and other infrastructure.

Tata, however, said it is not interested in the deal if Goyals, who have 51 percent stake in Jet, continue to retain significant control. Sources told the paper that if the talks with Jet bear fruit, the Tata will revamp its existing aviation ventures and align everything with Jet.


A lot of people are likely to do everything in their power to scuttle this deal.
If the Tatas take over Jet, they'll make it the best airline in Asia if not the World. 9W-Tata will leave the likes of EK , SQ and QR rolling in the dust.

Make no mistake, a lot of bricks are being flushed down toilets over this news.
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PostPosted: Sat Oct 27, 2018 10:37 am    Post subject: Reply with quote

nadarji wrote:
justbala wrote:
Jet discontinues BLR-TRV, goes double daily on BOM-TRV

With this Jet has completely exited the BLR-Kerala routes. Sad


Only for ~10 days - 20-30 Nov.


BLR-TRV is not available for booking on any date after 17 Nov.
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PostPosted: Tue Oct 30, 2018 5:56 am    Post subject: Reply with quote

Delta Air Lines evinces interest in JetAirways, may buy Goyal, Etihad stakes

Quote:
Even as the Tata group is believed to have intensified negotiations for a possible purchase of a stake in troubled airline Jet Airways, the carrier may find a white knight in Delta Air Lines, three people familiar with the development told FE. Although the Atlanta-based airline declined to comment on what it termed “speculation regarding future investments”, it is understood to have made overtures to Jet’s promoter Naresh Goyal. Goyal holds 51% in Jet Airways.

Delta, persons in the know, said would also buy the 24% stake in Jet held by Etihad Airlines. The UAE-based airline bought a minority stake in Jet Airways in 2012 for about $379 million, the first-ever airline stake buy after the government had allowed foreign airlines to buy up to 49% in domestic carriers.

However, the Tatas may pick up only Goyal’s 51% stake, sources indicated. For the Tatas, the purchase of Jet Airways would strengthen their position in the Indian market. Currently, they run Vistara with joint venture partner Singapore Airlines and the acquisition of Jet would be strategically a good move. “There is no large market beyond west of Singapore for Singapore Airlines to expand. They have a regional dominance, are fighting with Cathay Pacific, but this deal could give them more share,” said an airline
executive.

While FE could not confirm the price offered by Delta for the combined stake held by Goyal and Etihad, it is believed to be at a good premium to the current market price. “In addition to buying the stake, Delta would also infuse capital into the cash-strapped Jet,” persons familiar with the discussions told FE.

In 2017, Jet had entered into an alliance with Delta (along with Air France-KLM) based on the principle of metal neutrality, which means that revenues will be shared between the airlines irrespective of whose aircraft was used, a first in the Indian aviation sector.

Despite a challenging business environment for airline companies and high crude prices, Delta has turned in profits and is in a strong financial position. Its profit stood at $3.6 bn in 2017 and this year till September, it recorded a profit of $2.99 bn.
Delta is also one of the few airline companies that made a success of its merger with another US carrier Northwest Airlines, which was acquired in 2008, into a formidable airline business.


https://www.financialexpress.com/industry/arvind-to-list-brands-engineering-businesses-by-january-2019/1366047/
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PostPosted: Tue Oct 30, 2018 6:57 pm    Post subject: Reply with quote

luvleen wrote:
Delta Air Lines evinces interest in JetAirways, may buy Goyal, Etihad stakes

Quote:
Even as the Tata group is believed to have intensified negotiations for a possible purchase of a stake in troubled airline Jet Airways, the carrier may find a white knight in Delta Air Lines, three people familiar with the development told FE. Although the Atlanta-based airline declined to comment on what it termed “speculation regarding future investments”, it is understood to have made overtures to Jet’s promoter Naresh Goyal. Goyal holds 51% in Jet Airways.

Delta, persons in the know, said would also buy the 24% stake in Jet held by Etihad Airlines. The UAE-based airline bought a minority stake in Jet Airways in 2012 for about $379 million, the first-ever airline stake buy after the government had allowed foreign airlines to buy up to 49% in domestic carriers.

However, the Tatas may pick up only Goyal’s 51% stake, sources indicated. For the Tatas, the purchase of Jet Airways would strengthen their position in the Indian market. Currently, they run Vistara with joint venture partner Singapore Airlines and the acquisition of Jet would be strategically a good move. “There is no large market beyond west of Singapore for Singapore Airlines to expand. They have a regional dominance, are fighting with Cathay Pacific, but this deal could give them more share,” said an airline
executive.

While FE could not confirm the price offered by Delta for the combined stake held by Goyal and Etihad, it is believed to be at a good premium to the current market price. “In addition to buying the stake, Delta would also infuse capital into the cash-strapped Jet,” persons familiar with the discussions told FE.

In 2017, Jet had entered into an alliance with Delta (along with Air France-KLM) based on the principle of metal neutrality, which means that revenues will be shared between the airlines irrespective of whose aircraft was used, a first in the Indian aviation sector.

Despite a challenging business environment for airline companies and high crude prices, Delta has turned in profits and is in a strong financial position. Its profit stood at $3.6 bn in 2017 and this year till September, it recorded a profit of $2.99 bn.
Delta is also one of the few airline companies that made a success of its merger with another US carrier Northwest Airlines, which was acquired in 2008, into a formidable airline business.


https://www.financialexpress.com/industry/arvind-to-list-brands-engineering-businesses-by-january-2019/1366047/


How can Delta buy more than 49% as a foreigner? Would they buy them out and then do a public stock offering selling to the Indian public - thus controlling 9W but having "Indians" own 51%? While I am a Delta guy and would LOVE Delta to buy them, I also feel that Tatas would be a great buyer as well. The advantage Delta has wrt working capital is that it can essentially "give" 9W the EU to US part of a India-US ticket for $1. Allowing 9W to retain all of the India-US fare to the India-EU flight. When 9W does well, they then increase the EU-US fare to "get back" the money.
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luvleen
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PostPosted: Wed Oct 31, 2018 5:11 am    Post subject: Reply with quote

I doubt they'll be going for the full 51% of Goyal's share. They may buy out EY's 24% and then maybe some more from Goyal. EY is in quite some trouble and if they are to fight of EK's takeover bid (as per speculations) then selling off the 24% would come handy.

All in all, 9W has some wealthy suitors in Tatas, DL and others. It remains to be be seen who Goyal actually chooses
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PostPosted: Wed Oct 31, 2018 2:37 pm    Post subject: Reply with quote

So now Jet doesnt have a lounge at their hub in BOM Sad

https://livefromalounge.boardingarea.com/2018/10/31/jet-airways-lounge-mumbai-t2/?utm_source=BoardingArea&utm_medium=facebook
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PostPosted: Wed Oct 31, 2018 9:13 pm    Post subject: Reply with quote

https://timesofindia.indiatimes.com/business/india-business/jet-airways-gets-notices-from-aircraft-leasors-for-payment-delay-default/articleshow/66446451.cms

Jet Airways gets notices from aircraft lessors for payment delay, default

Oct 31, 2018

Jet Airways on Wednesday said it has received “notices for payment delays/defaults" from few aircraft lessors. The airline said this in a filing to BSE, adding the lessors “are mindful of the challenges currently faced by the Indian aviation industry and they have been supportive of the company’s efforts.” It did not specify the notice was for default and delay for lease of how many aircraft. The company’s shares closed 5.7% lower on BSE Wednesday at Rs 222.30.

The airline is facing heat from other quarters also who are waiting for payment of dues. The GVK lounge at Mumbai Airport for premium flyers has put a notice saying “please note that complimentary access at the GVK Lounge is currently not available for Jet Airways customers only. You may however access the lounge on a paid basis.”

A Jet Airways spokesman said "access to the GVK Lounge at the Chhatrapati Shivaji Maharaj International Airport, Mumbai Terminal 2 is temporarily unavailable. The airline sincerely regrets the inconvenience to its loyal guests and seeks their understanding in the interim, even as it works to reinstate the complimentary access soon."

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Jaysit
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PostPosted: Thu Nov 01, 2018 5:20 pm    Post subject: Reply with quote

Jet Airways. Otherwise known as Kingfisher II.
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747-237
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PostPosted: Thu Nov 08, 2018 6:04 pm    Post subject: Reply with quote

Jet Airways expands International service in Dec 2018

Jet Airways from December 2018 is expanding international service, mainly to The Middle East and South East Asia.
Subject to Government Approval, following routes will see frequency increase from 05DEC18.

Delhi – Bangkok Increase from 2 to 3 daily
Delhi – Doha Increase from 1 to 2 daily
Delhi – Kathmandu Increase from 3 to 4 daily
Mumbai – Doha Increase from 1 to 2 daily
Mumbai – Dubai Increase from 6 to 7 daily
Mumbai – Singapore Increase from 2 to 3 daily


Source: Airlineroute.net
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luvleen
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PostPosted: Wed Nov 14, 2018 5:33 am    Post subject: Reply with quote

Jet Airways to sell six Boeing 777 planes to reduce debt

https://www.livemint.com/Companies/JkStkqzLojRrkZm4CVuWCO/Jet-Airways-to-sell-6-Boeing-777-planes-to-reduce-debt.html

Quote:
Jet Airways (India) Ltd plans to sell six Boeing 777 planes, a top company executive said, as the cash-strapped airline aims to clear most of its aircraft-related debt, which stands at about ₹1,800 crore. “The airline has identified six Boeing 777 aircraft, which it will sell to lessors under sale and leaseback and use the proceeds to pay most of the aircraft debt,” Jet Airways chief financial officer Amit Agarwal told analysts at a post-earnings call on Tuesday.

Jet Airways had a net debt of ₹8,052 crore at the end of the quarter that ended on 30 September 2018. It had a net debt of ₹7,364 crore as of June-end. While 60% of the airline’s debt is dollar denominated, its aircraft debt stands at ₹1,800 crore.

Jet Airways has 124 aircraft, according to its website. Of this, it owns 16 aircraft, mostly wide-body planes, while the rest are on sale and leaseback from lessors.

A sale and leaseback is a transaction in which the owner sells the aircraft and then takes it back on lease from the buyer. This kind of deal typically removes the aircraft, and its associated debt, from the carrier’s balance sheet.

Jet Airways will also finance the purchase of its 225 Boeing 737 Max aircraft through the sale and leaseback mechanism. It will also evaluate the sale of 10 remaining aircraft that it owns.

The airline will also phase out 75 older Boeing 737 aircraft by 2025 and take delivery of 15 new Boeing 737 Max aircraft in fiscal 2020, Agarwal said.

In 2015, Jet Airways had placed orders for 75 Boeing 737 Max aircraft. It ordered another 75 earlier this year. In a regulatory filing in June, it had said that it would acquire 75 more, taking the total order size of its Boeing 737 Max fleet to 225.

The airline has already taken delivery of five Boeing 737 Max planes during the first half of the current fiscal, and will take delivery of another six more such planes before the end of the fiscal.

Country’s second-largest airline has a long-term growth projection to increase its capacity by 8-10% a year, on back of the additions of Boeing 737 Max aircraft.

Going ahead, Jet Airways will rationalize its operations in unprofitable routes, the airline’s chief executive officer Vinay Dube said, adding that the airline expects fares to rise in the short term.

Naresh Goyal-led Jet Airways plunged to a net loss of ₹1,297.46 crore in the three months ended 30 September, excluding its units, its third successive loss. It had a net profit of ₹49.63 crore in the same period a year earlier.

The airline, which had a 14.2% share of the domestic aviation market in September, needs to urgently raise cash to stay afloat as sharply higher fuel prices and a weak rupee have eroded its financial health.

In the past year, Brent crude has gained 13.71% while the rupee has weakened 9.97% against the dollar.

Mint had on 13 November reported that Tata Group is conducting due diligence of Jet Airways as the nation’s largest conglomerate explores the purchase of a controlling stake in the cash-strapped airline. Jet Airways, however, called the news report “speculative”.

Agarwal said that while the company doesn’t comment on speculation, the company will inform if “something materializes” in future.

Jet Airways has appointed an investment banker to help raise funds through sale of its stake in its frequent flyer programme Jet Privilege Pvt. Ltd and a consultant to achieve operational efficiencies, Agarwal said.
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Jaysit
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PostPosted: Wed Nov 14, 2018 5:20 pm    Post subject: Reply with quote

The beginning of the end.

The sooner they're purchased by another entity that knows how to run an airline, the better.
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747-237
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PostPosted: Fri Nov 16, 2018 1:51 pm    Post subject: Reply with quote

Jet Airways discontinues 6 Middle East service in Dec 2018

Jet Airways from 05DEC18 is ending 6 Middle East service, as the airline gradually closed reservation for travel on/after this date.
Affected routes include the following.

Kochi – Doha Currently served 1 daily
Kozhikode – Doha 4 weekly
Lucknow – Abu Dhabi 1 daily
Mangalore – Abu Dhabi 1 daily
Mangalore – Dubai 1 daily
Thiruvananthapuram – Doha 3 weekly


Source: Airlineroute.net
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Caliguy
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PostPosted: Fri Nov 16, 2018 7:54 pm    Post subject: Reply with quote

747-237 wrote:
Jet Airways discontinues 6 Middle East service in Dec 2018

Jet Airways from 05DEC18 is ending 6 Middle East service, as the airline gradually closed reservation for travel on/after this date.
Affected routes include the following.

Kochi – Doha Currently served 1 daily
Kozhikode – Doha 4 weekly
Lucknow – Abu Dhabi 1 daily
Mangalore – Abu Dhabi 1 daily
Mangalore – Dubai 1 daily
Thiruvananthapuram – Doha 3 weekly


Source: Airlineroute.net


I think the AUH flight cuts really speak volumes that the EY relationship is on life-support if not dead. Looks like Jet is pushing pax through BOM rather than P2P. Let's see how that works out - my guess is labor traffic is very price sensitive and the connection in BOM probably wouldn't matter. Better to keep frequencies high out of BOM to serve the premium traffic between BOM and the Gulf. That said, why does Jet fly two flights BOM-DOH like 30 min apart???
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luvleen
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PostPosted: Sat Nov 17, 2018 7:21 am    Post subject: Reply with quote

Tata confirms interest in Jet Airways deal

https://asia.nikkei.com/Business/Companies/Tata-confirms-interest-in-Jet-Airways-deal

Quote:
Tata Sons ended weeks of speculation on Friday by acknowledging that it is considering an acquisition of beleaguered Indian carrier Jet Airways, but the holding company of the $103 billion Tata Group said it has made no offer to the airline yet.

"We would like to clarify that any such discussions have been preliminary and no proposal has been made," Tata Sons said after a board meeting that lasted over four hours at Tata Group headquarters in Mumbai.

Jet Airways stock has enjoyed a lift for the past four days over the possibility of a deal with Tata Sons. The carrier's shares climbed 8% to 346.85 rupees Friday on the Bombay Stock Exchange.

Tata Group's reference to "preliminary" talks suggests any deal may take a few months to finalize. Yet market watchers see urgency from Jet Airways, whose debts ballooned in the past quarter and sparked fears of a loan default.

The carrier has suffered three straight quarterly losses while battling high fuel prices, a weakening rupee and intense competition that has slashed fares. Jet Airways reported a net loss of 12.97 billion rupees ($180 million) for the July-September quarter, swinging from a profit of 496.3 million rupees a year earlier.

One crucial consideration for Tata involves Jet Airways' founding family's stake in the airline, media reports say. Naresh Goyal and his family hold a 51% share, while Etihad Airways of the United Arab Emirates owns 24%. Reports suggest the Tata Group may want a controlling stake in the carrier, and also involve Singapore Airlines in the purchase.

Tata and Singapore Airlines are joint venture partners in Indian carrier Vistara. Reports suggest the partners would merge Vistara and Jet Airways soon after the acquisition.

Whether a Tata acquisition of Jet Airways pays off in the medium term would depend on the purchase price, analysts say.

The deal likely will "involve a notable control premium," Edelweiss Securities analyst Jal Irani said. Jet Airways' financial difficulty is "unlikely to dissuade a well-capitalized group like Tata, which has a track record of mega acquisitions," he added.

Tata re-entered the airline industry in 2013 -- 60 years after the family-owned conglomerate's Air India unit was nationalized by the government -- by forming two joint ventures. A venture with AirAsia of Malaysia led to the debut of budget airline AirAsia India in 2014, while full-service carrier Vistara launched in 2015.

AirAsia India now ranks sixth with a 4.8% share of domestic passengers during the nine months through September, according to the country's Directorate General of Civil Aviation, while Vistara stood seventh with 3.8%.

"For Tata it will be a significant windfall because they are looking at an 8% market share currently, and this would take them to approximately 25%, if it goes through," said Ashish Naina, research analyst at Care Ratings.

Jet Airways may need to accept the conditions offered by any prospective buyer, Naina said, because fellow Indian airline GoAir is also rumored to be available for sale.
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rik1301
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PostPosted: Sun Nov 18, 2018 10:28 pm    Post subject: Reply with quote

Do any of you know which is the next Jet Airways 737 Max due? There seems to be conflicting information on whether the frame is VT-JXG or VT-JXH. The googlesheet site Boeing Test Flights Per Day says VT-JXG but Tyke's Boeing blog has it as VT-JXH : https://tykesaeroblog.blogspot.com/2018/11/jet-airways-737-8-vt-jxh-first-flight.html

Confused Confused
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luvleen
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PostPosted: Mon Nov 19, 2018 1:57 am    Post subject: Reply with quote

Quote:
Do any of you know which is the next Jet Airways 737 Max due? There seems to be conflicting information on whether the frame is VT-JXG or VT-JXH. The googlesheet site Boeing Test Flights Per Day says VT-JXG but Tyke's Boeing blog has it as VT-JXH : https://tykesaeroblog.blogspot.com/2018/11/jet-airways-737-8-vt-jxh-first-flight.html

Confused Confused


Whenever its due, they may not have the pilots or the money to fly it Sad
The crisis at 9W deepens....

https://timesofindia.indiatimes.com/city/mumbai/jet-airways-cancels-10-flights-from-mumbai-flyers-stranded/articleshow/66683909.cms
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justbala
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Location: Bangalore

PostPosted: Mon Nov 19, 2018 12:26 pm    Post subject: Reply with quote

https://livefromalounge.boardingarea.com/2018/11/19/jet-airways-meals-cut-metro-routes/?utm_source=BoardingArea&utm_medium=facebook
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