Jet Airways temporarily suspending their ops, is it definitive ?

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sn26567
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Re: Jet Airways' financial situation, can they be saved ?

Post by sn26567 » 15 Apr 2019, 15:58

As of 14 Aril, Air France-KLM has discontinued reservations for codeshare flights operated by Jet Airways.

Source: Airline Route

Meanwhile, all Jet Airways' international flights are now grounded until Thursday!
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Re: Jet Airways' financial situation, can they be saved ?

Post by Passenger » 16 Apr 2019, 07:33

Reuters: "...In the staff letter, seen by Reuters, Chief Executive Vinay Dube said: “The interim funding has not been forthcoming thus far, and as a result of this we have extended cancellation of international operations through Thursday, April, 19.”
https://www.reuters.com/article/us-jet- ... SKCN1RR1JH

Background of that funding that failed:
https://timesofindia.indiatimes.com/bus ... 897318.cms

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Re: Jet Airways' financial situation, can they be saved ?

Post by luchtzak » 16 Apr 2019, 09:42

Naresh Goyal has withdrawn from the race to acquire Jet Airways after Etihad Airways and TPG (capital) threatened to walk out.

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Re: Jet Airways' financial situation, can they be saved ?

Post by TLspotting » 16 Apr 2019, 09:59

Jet Airways management consider to halt temporarily flights.
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Re: Jet Airways' financial situation, can they be saved ?

Post by TLspotting » 16 Apr 2019, 16:05

Only 5 active aircraft...
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Re: Jet Airways' financial situation, can they be saved ?

Post by Boeing767copilot » 16 Apr 2019, 16:13

An overview off all cancelled 9W flights on their website:

https://www.jetairways.com/documents/ap ... 6apr19.pdf

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Re: Jet Airways' financial situation, can they be saved ?

Post by Passenger » 16 Apr 2019, 16:50

TLspotting wrote:
16 Apr 2019, 16:05
Only 5 active aircraft...
Their debts have become that high (+1,2 Billion USD), that even the most optimistic businessplan can't rescue them. Thus: game over.

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Re: Jet Airways' financial situation, can they be saved ?

Post by TLspotting » 16 Apr 2019, 22:59

Passenger wrote:
16 Apr 2019, 16:50
TLspotting wrote:
16 Apr 2019, 16:05
Only 5 active aircraft...
Their debts have become that high (+1,2 Billion USD), that even the most optimistic businessplan can't rescue them. Thus: game over.
Indeed, but how could they let this airline fly? That's unbelievable!

It is 20:53UTC, and Jet Airways still flying with 5 aircraft, a few days ago I thought they were going to go bust within 14 days... 5 aircraft... Primera, Cobalt, Monarch, flybmi shut down all at once... Jet Airways can't get out of this financial trouble, that's for sure, but the most surprising is safety first...
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Re: Jet Airways' financial situation, can they be saved ?

Post by nordikcam » 16 Apr 2019, 23:01

TLspotting wrote:
16 Apr 2019, 22:59
Passenger wrote:
16 Apr 2019, 16:50
TLspotting wrote:
16 Apr 2019, 16:05
Only 5 active aircraft...
Their debts have become that high (+1,2 Billion USD), that even the most optimistic businessplan can't rescue them. Thus: game over.
Indeed, but how could they let this airline fly? That's unbelievable!

It is 20:53UTC, and Jet Airways still flying with 5 aircraft, a few days ago I thought they were going to go bust within 14 days... 5 aircraft... Primera, Cobalt, Monarch, flybmi shut down all at once... Jet Airways can't get out of this financial trouble, that's for sure, but the most surprising is safety first...
Political reasons...elections at this moment ?

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Re: Jet Airways' financial situation, can they be saved ?

Post by TLspotting » 17 Apr 2019, 10:00

nordikcam wrote:
16 Apr 2019, 23:01
TLspotting wrote:
16 Apr 2019, 22:59
Passenger wrote:
16 Apr 2019, 16:50

Their debts have become that high (+1,2 Billion USD), that even the most optimistic businessplan can't rescue them. Thus: game over.
Indeed, but how could they let this airline fly? That's unbelievable!

It is 20:53UTC, and Jet Airways still flying with 5 aircraft, a few days ago I thought they were going to go bust within 14 days... 5 aircraft... Primera, Cobalt, Monarch, flybmi shut down all at once... Jet Airways can't get out of this financial trouble, that's for sure, but the most surprising is safety first...
Political reasons...elections at this moment ?
An Indian friend told me there are indeed elections in India at the moment...
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: Jet Airways' financial situation, can they be saved ?

Post by Passenger » 17 Apr 2019, 10:51

Background of Jet Airways' problems by a Bloomberg Opinion columnist:

https://www.ndtv.com/business/opinion-w ... ia-2024265

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Re: Jet Airways' financial situation, can they be saved ?

Post by luchtzak » 17 Apr 2019, 14:35

Jet Airways to suspend its operations today after lenders reject call for funds: https://www.aviation24.be/airlines/jet- ... for-funds/

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Re: Jet Airways' financial situation, can they be saved ?

Post by TLspotting » 17 Apr 2019, 14:39

Should be in less than 5 hours. Last flight 9W2502 operated by JetKonnect.

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Re: Jet Airways' financial situation, can they be saved ?

Post by brabel » 17 Apr 2019, 17:31

Maybe SN should open a route to India again.. Less competition hehe
(I know they aren't going to)

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Re: Jet Airways temporarily suspending their ops, is it definitive ?

Post by TLspotting » 17 Apr 2019, 21:04

Final flight just landed.
A few pictures and video coming from India (via Twitter) :
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Re: Jet Airways temporarily suspending their ops, is it definitive ?

Post by ASR77 » 18 Apr 2019, 12:46

Hi guys,

I don't have a background in finance or economics but in the case of Jet Airways I wonder, from a business strategy point of view, about the logic behind the ongoing bidding they launched last week.

My limited understanding being that Jet does not have so many assets (as far as I know at least): a few aircrafts I guess, some real estate, Jets frequent flyer database (which is usually valuable), their customer base if that’s something still valuable, perhaps slots at Mumbai airport (but I don't know whether you can "sell" these like for London HR).
Liabilities on the other hand seem huge to me: staff salaries and other due rights and taxes, refunds to be processed for their customers requesting a refund, consequent and overdue amounts unpaid to suppliers, lenders, etc, …

Hence for those among you versed into economy or business admin, who, except some of the current shareholders (whom might want to give it another chance in order to recuperate some of their investments), has a sound financial interest in investing in Jet Airways in such a situation ?

I read in the NY times that their debt would be around 1billion+ USD, so for any interested investor does it not seem less expensive to start of from scratch than to invest in such a full-of-debts company ?

Enzo

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Re: Jet Airways temporarily suspending their ops, is it definitive ?

Post by ASR77 » 18 Apr 2019, 13:56

Apologies I posted my topic twice by mistake.

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Re: Jet Airways temporarily suspending their ops, is it definitive ?

Post by TLspotting » 18 Apr 2019, 16:03

ASR77 wrote:
18 Apr 2019, 12:46
Hi guys,

I don't have a background in finance or economics but in the case of Jet Airways I wonder, from a business strategy point of view, about the logic behind the ongoing bidding they launched last week.

My limited understanding being that Jet does not have so many assets (as far as I know at least): a few aircrafts I guess, some real estate, Jets frequent flyer database (which is usually valuable), their customer base if that’s something still valuable, perhaps slots at Mumbai airport (but I don't know whether you can "sell" these like for London HR).
Liabilities on the other hand seem huge to me: staff salaries and other due rights and taxes, refunds to be processed for their customers requesting a refund, consequent and overdue amounts unpaid to suppliers, lenders, etc, …

Hence for those among you versed into economy or business admin, who, except some of the current shareholders (whom might want to give it another chance in order to recuperate some of their investments), has a sound financial interest in investing in Jet Airways in such a situation ?

I read in the NY times that their debt would be around 1billion+ USD, so for any interested investor does it not seem less expensive to start of from scratch than to invest in such a full-of-debts company ?

Enzo
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I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

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Re: Jet Airways temporarily suspending their ops, is it definitive ?

Post by ASR77 » 18 Apr 2019, 18:15

Thanks a lot Thibault !

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Re: Jet Airways temporarily suspending their ops, is it definitive ?

Post by sn26567 » 19 Apr 2019, 00:16

KLM statement on situation Jet Airways

Air France-KLM is in close contact with its partner Jet Airways and is closely monitoring its situation. Jet Airways has suspended all its operations until further notice.

Air France and KLM’s commercial teams are assisting all customers booked on Jet Airways with Air France or KLM codeshares in order to provide an alternative travel solution to reach their final destination.

Depending on their operational capacities and needs, Air France and KLM are increasing the number of seats available to and from India by operating higher capacity aircraft or increasing the number of frequencies.

Air France and KLM are fully committed to minimizing the inconvenience for their customers.

Amstelveen, 18 April 2019
André
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