Jet Airways to take back six aircrafts from Etihad
The Dollar Business Bureau Private airline Jet Airways has decided to take back all the six Boeing aircrafts leased out to Etihad Airways, in the next six months and use them on some of its important routes that include Gulf region. Giving a statement to the media, Amit Agarwal, acting Chief Executive and CFO of Jet Airways said, “The six aircrafts (B777-300 ER) are expected to be deployed from the month of August and some of these aircrafts could also be used on the domestic routes.” "Our Boeing 777 wide body aircrafts, presently on lease to our investment partner Etihad Airways, will be taken back and deployed from August. After taking into consideration the market conditions, we are planning to upgrade some of ...
Jet continues to burn cash; FDI cap the culprit?
The Dollar Business Bureau There’s more bad news for prospective foreign investors in the Indian civil aviation sector as airlines major Jet Airways has reported a net loss of Rs.1,813.7 crore (standalone) for FY2015. This, despite a big fall in its fuel expense. The full year results that were released on Friday show that despite the carrier’s fuel expenses falling to just 34.2% of its sales – the lowest since FY2010 – losses continue to mount. While some might take heart from the fact that its FY2015 loss is a huge improvement from the Rs.3.667.9 crore loss the company had incurred in FY2014, its shares plunging by over 6% on Monday indicate that investors are tired of seeing the glass half ...
