Jet Airways bankruptcy and rebirth 2.0
Mar 24, 2019, 10:14 pm
#241
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i was scheduled to fly bom-lhr-bos next week & jfk-lhr-del the week after....bom-lhr & lhr-del were to be operated by 9w....the ticket was bought through delta so i finally called them last night to find out what my options were if i were to drop all 9w flight from my itinerary....
delta said they were aware of the problems 9w were facing & were no longer selling any tickets for flights that 9w was operating....they said i could either get a full refund or they could change my flights without any penalty....
i decided to go for the later & asked them if i could fly out of del instead....he said that would involve a small fare difference ($70) & he would be able to put me on all non-9w flights....so now i'm flying del-cdg-bos on af & nyc-fco-del on az....
delta said they were aware of the problems 9w were facing & were no longer selling any tickets for flights that 9w was operating....they said i could either get a full refund or they could change my flights without any penalty....
i decided to go for the later & asked them if i could fly out of del instead....he said that would involve a small fare difference ($70) & he would be able to put me on all non-9w flights....so now i'm flying del-cdg-bos on af & nyc-fco-del on az....
Mar 25, 2019, 2:44 am
#242
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This is good to know. I have some relatives who just last week bought tickets on Jet/Delta for a trip to the US! They seem to have been completely unaware of the situation that 9W is in. I'm hoping they will be able to get their tickets rerouted as you were able to.
Mar 25, 2019, 7:10 am
#243
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were the tickets bought from 9w or dl????
Mar 26, 2019, 12:53 am
#247
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Also the weird thing I've noticed is that they haven't nominated anyone to manage at least the day to day operations of the airlines till a new promoter is found. So who makes the final decisions there? Where does the buck stop? Who supervises the day to day activities for this "2-3 month" period?
Mar 26, 2019, 2:30 am
#249
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Mar 26, 2019, 2:53 am
#250
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Now Mallya is peeved that his airline was not bailed out: https://economictimes.indiatimes.com...w/68572478.cms
It seems SBI will give 1500 cr so that the airline flies till the elections.
It seems SBI will give 1500 cr so that the airline flies till the elections.
Mar 26, 2019, 4:29 am
#251
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Yups manage/micromanage/mismanage/manage-well/strategically-manage etc. whatever he did it all.
Point I was trying to make is that just through 1500 CR isn't going to solve 9W's problem. Who decides whom to pay with that cash... which routes they want to restart and which planes they want flying again. Who decides which pilots they want to get back and whom to axe. Who has the final say in all this and more? Vinay Dube - why isn't he sacked? Rajnish Kumar? Arun Jaitley?
Someone has to run the recovery show to make 9W attractive to others for investment. Who is tasked with doing that?
Point I was trying to make is that just through 1500 CR isn't going to solve 9W's problem. Who decides whom to pay with that cash... which routes they want to restart and which planes they want flying again. Who decides which pilots they want to get back and whom to axe. Who has the final say in all this and more? Vinay Dube - why isn't he sacked? Rajnish Kumar? Arun Jaitley?
Someone has to run the recovery show to make 9W attractive to others for investment. Who is tasked with doing that?
Last edited by PiperAtGatesofDawn; Mar 26, 2019 at 4:39 am
Mar 26, 2019, 4:37 am
#252
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Now Mallya is peeved that his airline was not bailed out: https://economictimes.indiatimes.com...w/68572478.cms
It seems SBI will give 1500 cr so that the airline flies till the elections.
It seems SBI will give 1500 cr so that the airline flies till the elections.
Except for the part he fails to mention he took the loans for IT and went and invested/spent it elsewhere making him a crook & money launderer.
Mar 26, 2019, 4:41 am
#253
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It's almost impossible that Jet, selling tix at premium prices, could be losing so much money - as compared to Indigo and others... (Even though they may have kept their expenses down)
There had to have been other drain on the income...causing this collapse.
Goyal always shied away from pax on board - one time a very well known architect and myself wished to talk to him/ask him questions when he was seated next to us on a domestic flight - he then ran into the cockpit and remained there until after we disembarked!
Mar 26, 2019, 4:52 am
#254
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Could be. I haven't heard too many credible sources tell this story. However it's quite easy to run an airline to the ground even if you charge good money for a ticket and keep costs down (neither of which they did - the first was their decision but keeping costs down wasn't all up to them)... just ask 6E, SG, AI, DL, UA, AA, BA, VS, SQ, VS, AF, KL, LH, LX and pretty much any airlines in the world.
Mar 26, 2019, 5:26 am
#255
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He (mis-)managed it as his personal fiefdom on a day to day operational basis. When someone believes it is "good to be the king", they are reluctant to give away the keys to the domain and day to day operational power except via a very trusted vice-regent of some kind. And he definitely seems to have desperately done whatever he could to keep the 9W domain under his day to day operational control as long as possible.
About the government trying to keep 9W afloat at least into and a bit beyond the elections, can't say I'm surprised as they don't want to be said to have failed the economy in any sort of high profile way on the cusp of the election. And so we get yet another example of economic mismanagement from government, with the taxpayers left to foot the bill when the government's (direct or indirect) injection of liquidity into 9W ends up flushed down the toilet.
About the government trying to keep 9W afloat at least into and a bit beyond the elections, can't say I'm surprised as they don't want to be said to have failed the economy in any sort of high profile way on the cusp of the election. And so we get yet another example of economic mismanagement from government, with the taxpayers left to foot the bill when the government's (direct or indirect) injection of liquidity into 9W ends up flushed down the toilet.