JET AIR FLYING LOW WITH GOVT REJECTING SUB-LEASE PLEA
Article Abstract:
The operations of Jet Airways has been curtailed by nearly 40 percent following directions from the ministry of civil aviation to ground all its aircraft leased from foreign airlines with immediate effect. This is being done to abide by the recently announced policy guidelines on investment in the domestic air transport sector. Jet Airways has grounded eight of its aircraft apart from three of its new purchases in the last three days. Its request to sub-lease these aircraft also has been rejected by the ministry, which has led to grounding of seven of its fleet of 19 aircraft including two wet-leased and five dry-leased aircraft. (gsh)
Comment:
Ministry of civil aviation decides to ground all aircrafts leased from foreign airlines which curtailed operation by nearly 40%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GOVT ORDERS IA TO FREEZE RECRUITMENTS
Article Abstract:
The government of India has asked the domestic carrier Indian Airlines (IA) to stop recruitment to reduce its costs by 15 percent in 1998-99. It has asked the airlines to stop paying productivity-linked incentives. IA had posted a net profit of Rs45 crore in 1997-98. It will get funds from the government totalling Rs325 crore in 1998-99. IA had 21,081 employees as on December 31, 1997. The semi-skilled and unskilled labour account for 43 percent of its total workforce of 9,000. Its number of employees per aircraft is higher than Singapore Airlines, KLM and Lufthansa. (rk)
Comment:
Is asked by govt to stop recruitment to reduce costs by 15% in 1998-99
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DGCA PUTS CURBS ON WET-LEASE DEALS
Article Abstract:
The Director General of Civil Aviation has issued new guidelines that do no permit operators to expand capacity by wet-leasing from foreign airlines. The guidelines state that wet-lease of aircraft may be resorted to during emergencies when existing aircraft are grounded or involved in accidents which reduces the capacity of the operator. Wet-leasing may also be done if capacity needs to be increased due to natural calamity, industrial unrest or such emergency situations. (khr)
Comment:
India: Director General of Civil Aviation issues new guidelines that do no permit operators to expand capacity by wet-leasing
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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