Jet Airways - collapse affects whole industry in India
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#1
| 10 yrs in India

Jet Airways - collapse affects whole industry in India

"The pilots' grouping of Jet Airways has said that the airline is on the "verge of collapse" and that they are facing lot of financial hardships without any relief in sight.

Flagging concerns about non-payment of salaries, the National Aviators Guild (NAG) has written a letter to Prime Minister Narendra Modi.

"We fear that the airline is on verge of collapse and this will leave thousands of people unemployed and change the dynamics of aviation as fares will increase d ..

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29 Replies

#2
| Humble servant of the self
It should be allowed to collapse peacefully, RIP. But seems like there are brilliant ideas floating around of bailing it out :beatingdeadhorse:
If you find my posts confrontationist, please bear, I am an old frustrated guy who has nothing better to do than sit on rocking chair and curse the world whole day
#3
| Maha Guru Member
Pity, it was so pleasant to travel on, largely empty, and with all the best politicians and bureaucrats..
#4
| Maha Guru Member

More jet airways cancellations

Looks like fewer and fewer jet airways flights out of major metros .
International flights also being cancelled.... London, Paris, Amsterdam still available?

Also many pilots are moving over to spicejet, so perhaps jet airways may totally shut down? Or is it likely a buyer might emerge, for a drastically smaller airline?
#5
| Maha Guru Member

Problem with airlines in india

I thought this was funny( read somewhere on what’s app)..

The problem at Indigo is they lack pilots
The problem at jet airways is they lack money
The problem at spice jet is they lack planes( B 737 max)

And the problem at Air India is ...lack of passengers!
#6
| Maha Guru Member

Originally posted by: jituyadav View Post

It should be allowed to collapse peacefully, RIP. But seems like there are brilliant ideas floating around of bailing it out :beatingdeadhorse:


The government is trying to arrange a bailout - using the nationalized banks to act as a backstop.
#7
| Maha Guru Member
They bail out every other business..
#8
| Humble servant of the self

Originally posted by: kmalik View Post

The government is trying to arrange a bailout - using the nationalized banks to act as a backstop.


Pathetic, and frustrating! Every now and then, nationalised banks are used to bail out businesses whose owners have made millions, let the business fail and the government uses public money to bail them out.

Lakhs of crores down the drain to support few individuals :mad: This should be unacceptable to start with, but seems like it is a well accepted norm by now.
If you find my posts confrontationist, please bear, I am an old frustrated guy who has nothing better to do than sit on rocking chair and curse the world whole day
#9
| In charge, navel affairs
That is the essence of the modern capitalism everywhere... take huge risks or not, bleed out the company or not, mini-collapse the global economy or not, the taxpayer will bail out the fat cats and Joe (the plumber or not) will get additionally shafted.

Profiteering, with risks passed on to the taxpayer. Too big to fail and all that nonsense.
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This is computer generated drivel. No signature is required.
#10
| Maha Guru Member

Originally posted by: capt_mahajan View Post

That is the essence of the modern capitalism everywhere... take huge risks or not, bleed out the company or not, mini-collapse the global economy or not, the taxpayer will bail out the fat cats and Joe (the plumber or not) will get additionally shafted.

Profiteering, with risks passed on to the taxpayer. Too big to fail and all that nonsense.


Here is an interesting interview with rajat Gupta, ex McKinsey, jail time, etc,

https://www.cnbc.com/video/2019/03/22/rajat-gupta-on-rebuilding-his-life-nearly-seven-years-after-insider-trading-conviction.html

Note that at the end he says he lost only half his net worth, meaning he got keep half of it.. still a sizable fortune.
#11
| Maha Guru Member
Crony capitalism..
#12
| In charge, navel affairs
I daresay Rajat Gupta may still be considered a success story by many in India, although I am sure business schools have stopped doing so.
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This is computer generated drivel. No signature is required.
#13
| Humble Genius
Naresh Goyal + wife have quit Jet today. This was the crucial first step towards any revival plan - many lenders had refused to cooperate if he was still around..his controlling share will also reduce from a current 51% to about 22%.

My gut feeling is the airline will survive, it would probably be a smaller player, with fewer , key, routes but it will survive after all.
#14
| Clueless

Originally posted by: capt_mahajan View Post

I daresay Rajat Gupta may still be considered a success story by many in India


:rolleyes:[whoa] :eek:
#15
| Clueless
Indian Governments (Both NDA AND UPA) do not have the cojones to fight the babucrats, who have not let AirIndia collapse.

They are in that way very much alike Italians and Alitalia.

AI has had a toxic effect on the airline ecosystem in India. Why and How are outside the realm of this thread.