Good discussion, valid and informative points. I like the one that suggests having access to parked planes so they can speed up installs. Uncertain times ahead - crazy things happening. The Canada Deposit Insurance Corporation needs to up the $100,000 limit SAP so the Canadian banks don't lose depository funds. What a joke that the US raised the limit to $250,000 right away.
MUMBAI (Reuters) - Jet Airways, India's top private domestic carrier, was considering returning some of its leased aircraft due to a decline in demand and and a halt on its expansion plans, a senior executive said on Thursday.
Chief Commercial Officer Sudheer Raghavan said retrenchments of 1,900 staff announced this week would be completed by the end of next week. He said the employees had been hired for Jet's expansion plans, including international routes.
"We are looking at the possibility of returning some aircraft," Raghavan told Reuters.
"I can't give you a number, but we are looking at reviewing our fleet requirement given the downfall in international and domestic business. The evaluation is still on," he said.
He said Jet had leased planes from "a variety of sources" from across the globe, but declined to name any particular firm.
In September, Jet had said it and its budget arm JetLite offered 526 flights daily with a fleet of 109 aircraft.
Raghavan did not comment when asked about Oil Secretary R.S. Pandey's statement that Jet, Kingfisher Airlines and state-run National Aviation Co Of India had defaulted on jet fuel payments.
On Monday, Jet and No.2 private carrier Kingfisher, which between them have about 60 percent of the domestic market, set up an alliance to cut costs through code-sharing, sharing of ticketing, ground services, fuel management, crew training and utilisation.
Jet has said the job cuts were not a result of the alliance.