32 C
Delhi
Thursday, July 16, 2020

Jet Airways planning to ground 23 Boeing 737 aircraft to cover up the losses

Must read

Francesca Farago is too sexy in Too Hot to Handle Netflix

Netflix released 'Too Hot to Handle'-- a dating truth show amidst lockdown as well as certainly show came to be immediately prominent as it...

Apple to launch iPhone SE 2 next week: Price, Specs, Design

Apple will launch its most awaited mobile phone, the all-new Apple iPhone SE 2. SE 2 was earlier anticipated to be launched on March...

Researchers find flies having sex fossilised in 41 million old amber

A pair of long-legged flies fulfilled a Romeo-and-Juliet ending some 41 million years ago, when a falling drop of tree resin spoiled their tender...

Astronomers found elusive beast black hole 50,000 times the size on Sun, Watch Video

Astronomers have actually found the best proof for the wrongdoer of a planetary murder: a great void of an evasive class called "intermediate-mass," which...

The Jet Airways Managing department has suggested its senior pilots that there is a need to ground the 23 Boeing 737 to cover the losses. The meeting was held on 9th October with the National Aviators Guild (NAG) and the pilot union of Jet. The full carrier service airline also said that they won’t be able to meet the promise to pay pilots and engineering staff their pending salaries for the month of September.

As per the sources, the CEO of the airline Vinay Dube and Rahul Taneja the chief people officer were presented in the meeting. The management staff of the airline suggested that they are thinking to ground 23 Boeing 737s which operates on domestic routes to cut down the losses, said one of the senior pilots present in the meeting.

The airline has a fleet of 124 aircraft, it has 82 different types of Boeing 737s including Boeing 737-700, 737-800, 737-900 and 737-900ER and this aircraft is mainly used for all domestic operations.

In an interview with one of the leading newspaper, Jet Airways spokesperson said that the Airline firmly refuses this information which is totally baseless and misleading. The airline also advises the newspaper to stop spreading this baseless information which was being circulated through different mediums with hateful intentions.

The grounding of the aircraft happens in two cases. Number one, it is done to limit the extra expenses due to operational losses because the direct operating expenses do not get recovered through profit. The second case in which the grounding of the aircraft can be done is, if the airline is having any issues with its rent payments and if they have any pending payments, or in the case, if they do not have sufficient money to pay their vendors and suppliers on time, said an aviation expert.

Jet Airways recorded loss of Rs 1,323 crore in its first quarter. From June 2018 onwards, it had total debt of Rs 8,620 crore, of which Rs 1,968 crore was related to aircraft. The airline’s total build up losses stand at Rs 10,878 crore and at present it is working on a turnaround plan to save Rs 2,000 crore through many proposals which were accepted by the board.

- Advertisement -

More articles

- Advertisement -

Latest article

Francesca Farago is too sexy in Too Hot to Handle Netflix

Netflix released 'Too Hot to Handle'-- a dating truth show amidst lockdown as well as certainly show came to be immediately prominent as it...

Apple to launch iPhone SE 2 next week: Price, Specs, Design

Apple will launch its most awaited mobile phone, the all-new Apple iPhone SE 2. SE 2 was earlier anticipated to be launched on March...

Researchers find flies having sex fossilised in 41 million old amber

A pair of long-legged flies fulfilled a Romeo-and-Juliet ending some 41 million years ago, when a falling drop of tree resin spoiled their tender...

Astronomers found elusive beast black hole 50,000 times the size on Sun, Watch Video

Astronomers have actually found the best proof for the wrongdoer of a planetary murder: a great void of an evasive class called "intermediate-mass," which...

UK Government’s’ Missteps in Handling the Covid 19 Crisis

Even as the World Health Organization has declared Europe as the new epicenter of the coronavirus pandemic, the UK government does not seem serious...