WW "airlines to go bust"
#451
Join Date: Feb 2011
Posts: 5,797
From a fleet of 119 aircraft, Jet Airways are down to flying 18. Many are being derigistered by lessors and flown out of India.
‘I know one employee who hasn’t been paid since the end of last year.
Meanwhile, Air India have frames all over the place, either cannibalised for parts or not airworthy whilst they await maintenance.
You can guarantee only one will be allowed to fail...
‘I know one employee who hasn’t been paid since the end of last year.
Meanwhile, Air India have frames all over the place, either cannibalised for parts or not airworthy whilst they await maintenance.
You can guarantee only one will be allowed to fail...
On the other hand I reckon Jet is finished for all intents and purposes.
#452
Join Date: Dec 2009
Location: Flatland
Programs: AA Lifetime Gold 1MM, BA Gold, UA Peon
Posts: 6,095
Jet Airways has suspended all international flights after several aircraft were seized for non-payment of fuel and other charges:
https://www.bbc.co.uk/news/business-47905089
I saw a Jet 777 parked up at Schiphol on Wednesday evening. Usually it's visible when you arrive in the mornings, parked up on the stands opposite the G and H piers but unusually this time it was parked up in the evening. It was reported as having been seized for non-payment of fuel bills.
https://www.bbc.co.uk/news/business-47905089
Jet Airways appears to have suspended all its international flights, raising fresh fears about the survival of India's largest private airline.
The airline, saddled with more than $1bn (Ł765m) of debt, is seeking a financial lifeline to avoid collapse.
The Indian government said steps were being taken to ensure passenger safety after flights were cancelled.
Carriers in India must maintain a fleet of least 20 aircraft to continue to operate international services.
On Thursday, the airline grounded 10 more planes over unpaid fees to leasing firms and several local media reported the airline is now operating 14 planes.
The airline, saddled with more than $1bn (Ł765m) of debt, is seeking a financial lifeline to avoid collapse.
The Indian government said steps were being taken to ensure passenger safety after flights were cancelled.
Carriers in India must maintain a fleet of least 20 aircraft to continue to operate international services.
On Thursday, the airline grounded 10 more planes over unpaid fees to leasing firms and several local media reported the airline is now operating 14 planes.
#453
Join Date: Dec 2009
Location: Flatland
Programs: AA Lifetime Gold 1MM, BA Gold, UA Peon
Posts: 6,095
Jet Airways has suspended all operations: https://www.bbc.com/news/business-47963536
Another successful investment by Etihad, to go along with Darwin Airline, Air Berlin, and Alitalia. Is this a rerun of the "Swissair strategy"?
The airline said its last flight would operate on Wednesday as it was not able to pay for fuel and other critical services.
Jet Airways said it had no choice but to suspend the flights, but hopes to start flying again.
It has $1.2bn (Ł900m) debt and has been in talks with lenders for weeks.
...
The Indian government had asked state-run banks to step in with a bailout plan for the airline - which employs 23,000 people and was founded by Naresh Goyal more than 25 years ago. He stepped down as chairman last month
Pilots, engineers, and ground staff have not been paid for months...
Etihad Airways already owns 24% of Jet Airways and is reported to have expressed an interest in taking more control.
Jet Airways said it had no choice but to suspend the flights, but hopes to start flying again.
It has $1.2bn (Ł900m) debt and has been in talks with lenders for weeks.
...
The Indian government had asked state-run banks to step in with a bailout plan for the airline - which employs 23,000 people and was founded by Naresh Goyal more than 25 years ago. He stepped down as chairman last month
Pilots, engineers, and ground staff have not been paid for months...
Etihad Airways already owns 24% of Jet Airways and is reported to have expressed an interest in taking more control.
#456
Join Date: Oct 2009
Location: SJJ/AMS
Posts: 4,635
Resurrecting the thread for yet another potential 'about to fold': Adria Airways ('national' carrier of Slovenia, they operate a number of flights on behalf of Lufthansa and other airlines as well) has been struggling for quite some time now but, during a press conference in Ljubljana this morning, their executives basically said that they would desperately need a "strategic partner" (translated into English: "We ran out of cash"...) in order to "maintain scheduled operations". What is most worrying is that they have been cancelling a signifcant number of flights recently and also 'merging' services, not to mention the chronic delays. By all means, not looking pretty here.
G
G
#457
Moderator, Iberia Airlines, Airport Lounges, and Ambassador, British Airways Executive Club
Join Date: Feb 2010
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Posts: 63,476
#459
Join Date: Jun 2009
Location: LHR/SEA/YVR
Programs: BAEC G/*O E
Posts: 915
It definitely feels a bit like the days of "Go big or go home". With all the mergers and consolidations and fierce competition from the likes of FR and U2, it is becoming increasingly challenging for smaller players to survive.
I was actually quite surprised to see VS posting a loss of only Ł26.1M in in 2018, but even then I think they are the ones in a dire need of a "strategic partner" too.
I was actually quite surprised to see VS posting a loss of only Ł26.1M in in 2018, but even then I think they are the ones in a dire need of a "strategic partner" too.
#460
Join Date: Nov 2010
Posts: 5,587
It definitely feels a bit like the days of "Go big or go home". With all the mergers and consolidations and fierce competition from the likes of FR and U2, it is becoming increasingly challenging for smaller players to survive.
I was actually quite surprised to see VS posting a loss of only Ł26.1M in in 2018, but even then I think they are the ones in a dire need of a "strategic partner" too.
I was actually quite surprised to see VS posting a loss of only Ł26.1M in in 2018, but even then I think they are the ones in a dire need of a "strategic partner" too.
#462
Join Date: Aug 2002
Location: YYZ
Programs: BA Gold/Marriott Gold/HH Diamond/IC Plat Amba
Posts: 5,982
Resurrecting the thread for yet another potential 'about to fold': Adria Airways ('national' carrier of Slovenia, they operate a number of flights on behalf of Lufthansa and other airlines as well) has been struggling for quite some time now but, during a press conference in Ljubljana this morning, their executives basically said that they would desperately need a "strategic partner" (translated into English: "We ran out of cash"...) in order to "maintain scheduled operations". What is most worrying is that they have been cancelling a signifcant number of flights recently and also 'merging' services, not to mention the chronic delays. By all means, not looking pretty here.
G
G
#463
Join Date: Jun 2009
Location: LHR/SEA/YVR
Programs: BAEC G/*O E
Posts: 915
Why would they? It is a pretty small market in roughly the same area where LH has already got a hub (VIE). Hate to say it, but baby JATs are doomed. With the level of animosity between the governments of former Yugoslavia republics there's very little chance likes of Adria and Croatia will be consolidated under Air Serbia, and on their own they are two small to survive.
#464
Join Date: Aug 2002
Location: YYZ
Programs: BA Gold/Marriott Gold/HH Diamond/IC Plat Amba
Posts: 5,982
Why would they? It is a pretty small market in roughly the same area where LH has already got a hub (VIE). Hate to say it, but baby JATs are doomed. With the level of animosity between the governments of former Yugoslavia republics there's very little chance likes of Adria and Croatia will be consolidated under Air Serbia, and on their own they are two small to survive.
#465
Join Date: Oct 2009
Location: SJJ/AMS
Posts: 4,635
Why would they? It is a pretty small market in roughly the same area where LH has already got a hub (VIE). Hate to say it, but baby JATs are doomed. With the level of animosity between the governments of former Yugoslavia republics there's very little chance likes of Adria and Croatia will be consolidated under Air Serbia, and on their own they are two small to survive.
G