jasepl

20.11.2013: So apparently today, 20.11.2013, Jet's completed the transfer of 27 million shares to Etihad, officially making the latter 24% owners.[/b]

Fibga don't you feel like a plastic bag
Drifting through the wind, wanting to start again?
Don't you ever feel, feel so paper thin
Like a house of cards, one blow from caving in?

Do you realise you've buried yourself deep six feet under?
Even if you scream no one will hear a thing
Do you know that there's now no chance for you
Cause you sold out to your Etti boo?

Who can guess what comes next?

I'll think about "awarding" * the 6,663 JetPoints that JetPunishment decided to give me last week for no reason. Just when I had managed to zero my account. JetIdiots.

* I use award in the way that our newspapers do when talking about court sentences (Keyser still hadn't remedied that).

Keyser

this had been going on for so long i was beginning to wonder if the deal would actually go through....good for jet i guess....

ashishp

LOL! Why is this a problem jasepl? Things were really really bad at Jet. Cash flow at airline was really precarious situation and some flights were held back because catering companies were demanding payment: eerie throwback to the KF saga. The EY deal helps bring in cash. Though the rate at which they are still burning cash is also cause for concern.

Some airline executives I talked 2 4 months ago were unanimous that Jet is destroying yields on the LON and HKG sectors by dumping capacity. Can they really afford to do this with their cash situation?

Still in any case its significant in the sense that this is the end of an era. Many of us remember Goyalji telling us that he wanted to make Jet the SQ of India and in some ways perhaps he was getting there.

The demolition of yields on domestic post the Indigo hurricane has spelt the end of that dream!

jasepl

Oh nothing wrong with it at all, in terms of a transaction (besides the meaning of 24%, but that's another story).

Not that my opinion counts for anything, but I've never been opposed to Jet's desire to sell out to anyone. It's between the shareholders and the board. So about bloody time it the whole thing was completed.

Ownership and provenance of funding aren't even on the list of things I would consider when assessing an airline or any business.


But the route they've taken and the things they've done to themselves along the way... almost matchless. Pure, unadulterated mismanagement. Nothing else.

For their own sake, though, I do hope there are some very hard lessons learnt from the reason why they had to sell. And I also know better than to hold my breath.

Because I do think Jet took the easy way out, instead of putting in a bit of hard, honest work. Selling a stake for want of funds is one thing. Selling out and ceding control for want of a clue is a very different kettle of fish. And the less said about moving base to Abu Dhabi (only in terms of distance from Bombay) the better.


And for the exactly 0.5 people who were waiting with bated breath for the answer of the guessing game, here's what comes after, thanks to Jetty Perry:

Cause, Jetty, you're a failure
Come on, you know what you're worth
Making 'em go "He, heee, hee"
As you fail over the sky-y-y

Oh Fibga you're a failure
At home a big fat failure
On four continents a failure
Forever now a failure
No going back a failure
Breathing only thanks to Arab Saviour

Though you're now little more than wasted space
You're a true original and cannot be replaced
If you only put in a bit of work you know
After the hurricane there would have been a rainbow

Oh Fibga, JetZo failure
Fail, fail, fail fail, failure
Rolling over and just giving up
Sold out to the Sheik, what the f**k

jasepl

And the first big-ish decision from the new HQ in Abu Dhabi : the end of MAA-CMB from January.

http://airlineroute.net/2013/11/21/9w-maacmb-jan14cxld/

quarryking

Wasn't this one of 9W's early, if not first International Flight route..?

SuperFlyBoy

Yes, it was.

And in the beginning, they would even serve champagne and the whole works on board! ^

Then it went downhill...

AJLondon

Dang it! I often used this flight to position to CMB.

GuyFromBOM

I think this can be blamed on 9W's red-eye timings and UL's aggressive expansion in India, rather than on EY.

Currently, UL flies 3 times daily (varying between A320 & A340) and 1 each flight by SG & AI.

oliver2002

Well, CMB is history anyway...

Anyone knows what happened here:
http://www.reuters.com/article/2013/...9AO0I220131125

AJLondon

For *that*, yes indeed.

oliver2002

But still have tea, nice bungalows, beaches, buddhism, etc... you should visit!

SQ421

Likewise. In fact, I'm looking at setting up a CMB-BOM r/t right now, and the MAA-CMB flight was perfectly timed to connect to CX departures out of CMB.

Drat. That leaves BOM-CMB as the one option and a long transit to connect to most ex-CMB departures.

quarryking

Oh yeah... they definitely had the works on that short 1 hour run.. and the original timings too were pretty good..

AJLondon

Indeed. Maybe after retirement.