avier
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Re: Jet Airways: reports cash running out

Mon Dec 03, 2018 2:30 pm

That's a good move and a logical one.

Also, airlines like 6E are winning even more out of this. As they have forced 9W to transition to a hybrid airline. This is something that's happened to other FSC's in other matured markets in the west. Also in countries like Japan, premium airlines like ANA have BoB on domestic too. So not a bad move at all if comparing to the global trend.

And yeah, airlines like AI won't adopt such an aggressive move. They don't have a cash problem after all. ;)
 
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unrave
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Re: Jet Airways: reports cash running out

Mon Dec 03, 2018 2:46 pm

Amidst all this Vistara has just had an event where they paraded their line up of chefs. Their time for cost cutting will also come one day
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sibibom
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Re: Jet Airways: reports cash running out

Mon Dec 03, 2018 3:42 pm

Beleaguered Jet Airways to end services on 7 Gulf routes from Dec: Report

Once a key market for Jet Airways, the lower demand and high competition have made a good number of routes in the Gulf economically unviable

https://www.business-standard.com/article/companies/beleaguered-jet-airways-to-end-services-on-7-gulf-routes-from-dec-report-118120200326_1.html
 
bennett123
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Re: Jet Airways: reports cash running out

Mon Dec 03, 2018 5:53 pm

Why do Indian Staff tolerate not being paid on time.
 
JoeCanuck
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Re: Jet Airways: reports cash running out

Mon Dec 03, 2018 9:38 pm

bennett123 wrote:
Why do Indian Staff tolerate not being paid on time.


A lot of us would like know the answer to that question. I find the concept of anybody continuing to work at a company that refuses to pay for work already performed, extremely baffling.
What the...?
 
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lightsaber
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Re: Jet Airways: reports cash running out

Mon Dec 03, 2018 9:47 pm

JoeCanuck wrote:
bennett123 wrote:
Why do Indian Staff tolerate not being paid on time.


A lot of us would like know the answer to that question. I find the concept of anybody continuing to work at a company that refuses to pay for work already performed, extremely baffling.

I've asked that concept and haven't seen a fair answer.

IMHO, why would people believe a promise in future pay after being promised before (promised pay not delivered)?
You only have the first amendment with the 2nd. If you're not going to offend someone with what you say, you don't have the 1st.
 
JoeCanuck
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Re: Jet Airways: reports cash running out

Mon Dec 03, 2018 10:25 pm

lightsaber wrote:
JoeCanuck wrote:
bennett123 wrote:
Why do Indian Staff tolerate not being paid on time.


A lot of us would like know the answer to that question. I find the concept of anybody continuing to work at a company that refuses to pay for work already performed, extremely baffling.

I've asked that concept and haven't seen a fair answer.

IMHO, why would people believe a promise in future pay after being promised before (promised pay not delivered)?


An employment agreement is a promise of payment for services rendered. Generally, you are paid for work performed. You did the work, (which is your side of the bargain) and you rightly expect to get paid for it in a timely manner, (which is your employers side of the bargain). If your pay is delayed, your living expenses are not. You are still on the hook for rent, food, power, etc., and none of the people that you have to pay, care why you can't pay them.

If a company can't pay you, they have broken the employment agreement...the promise to pay. A broken promise is a lie. If someone lies to you once, they are a liar.

Why would you ever believe a liar?
What the...?
 
dtw2hyd
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Re: Jet Airways: reports cash running out

Tue Dec 04, 2018 12:16 am

That is because historically the pilot profession in the third world is a plum job for the elite with most likely pilot parents. They can survive months without pay.

On the other extreme where middle class/poor got into pilot profession live a very frugal life, they also can survive a prolonged period of time without pay.

Jet is not the first employer delayed salaries in India and won't be the last.

Otherwise, sickouts would have been widespread, now once in a while, a handful call in sick, which could be Dial-A-Union triggered event by a competitor.

The irony, Naresh Goyal is the architect of Dial-A-Union and Dial-A-Ministry culture, now someone else is administering his own medicine. AI unions used to be a target of Dial-A-Union strikes, got fed up and dismantled a pilots union. No union strikes since 2012 at AI.
 
avier
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Re: Jet Airways: reports cash running out

Tue Dec 04, 2018 6:42 am

lightsaber wrote:
I've asked that concept and haven't seen a fair answer.

IMHO, why would people believe a promise in future pay after being promised before (promised pay not delivered)?


JoeCanuck wrote:
If a company can't pay you, they have broken the employment agreement...the promise to pay. A broken promise is a lie. If someone lies to you once, they are a liar.



dtw2hyd wrote:
That is because historically the pilot profession in the third world is a plum job for the elite with most likely pilot parents. They can survive months without pay.

On the other extreme where middle class/poor got into pilot profession live a very frugal life, they also can survive a prolonged period of time without pay.
.


Pilots jobs may have been a plum job a decade or two back, not anymore. Today grads out of top colleges get more as their start pay than an FO at an airline. Also their scope to climb their career ladder is way more than an FO to Captain role. This is something some senior pilots shared with me, of how they were making more in their twenties compared to their cirlce of friends in other professions and now in their forties, it's the other way round, they make the least as pilots.

Also in regards to why people might stick to their companies with no pay in India, from what I have heard or seen : Most Indians , the slightly older generation at least , have a deep attachment to their work place and companies. Especially if the company has been a good employer always, and been supportive of the employees , the employees do then tend to be a bit sympathetic when the company can be in bad times. This is of course not true for all companies.

I have met a few senior 9W pilots, who joined the airline in their early twenties, and are still working there 20 yrs later. They love the company and say they an amazing employer. Hence their loyalty to the company. They get offers from airlines like the ME3, but still many continue at 9W, so that itself speaks something of the airline. They don't look at their work place just to make money and walk out, it's a lot more than that. They do have a family like bond to their work places .
Again, maybe not true for all companies and even the younger generation that keeps hoping jobs initially till they settle in to one for the long term.

I know westerners can be a bit more cold in that sense. That also reflects in their high divorce rates and singlehood. No commitment, dedication and loyalty. The moment they don't get something out of anything, they will walk out of it without thinking much, irrespective of how it may have contributed to them in the past. They wouldn't have or share any sentiments. Their mindset is very linear : if I don't get , I don't give.
 
blrsea
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Re: Jet Airways: reports cash running out

Tue Dec 04, 2018 7:10 am

Many middle-class folks now apply for bank loans and have taken up pilot profession. 20-25 years back, pilot training was very expensive and bank loans were hard to come by for pilot training. Now, loans are more easily affordable and many middle-class folks have taken loans and done pilot training. In fact, it used to be that going for training abroad was cheaper compared to flying schools in India.

There is also a 6-month notice period for pilots to quit an airline in India. Jet has waived it off for ATR pilots, but not for other aircraft. Would like to see how many have served notice to quit over the last few months.

People do spend as per their income, so to claim that pilots have money in bank and can afford to go without salaries for months together is absurd. At Kingfisher, many stuck around and didn't get months of salaries, pilots, FAs, engineers, ground crew etc when the airline folded. Many had commitments for house/car loans etc and were put into lots of hardship. Better for Goyal to give up control and give the airline a chance to survive.
 
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Spiderguy252
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Re: Jet Airways: reports cash running out

Tue Dec 04, 2018 7:18 am

Guys, this has been spanning for months on end. There is clearly more to it than meets the eye if the airline continues to fly for yet another day, with or without meals for the pax at the back of the plane.
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bennett123
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Re: Jet Airways: reports cash running out

Tue Dec 04, 2018 8:45 am

IMO, repeated failure to pay salary on time is a major issue and loyalty works two ways.

Just as importantly, firms that fail to pay salaries on time more than once frequently go broke soon after. Apart from the lost wages, the market is then flooded with (in this case) airline employees.

The result is lost pay AND a struggle to get another job.

Is this 6 month notice period for pilots just in India or is it industry wide. That and the Seniority system in the US clearly work against the staff when an airline is in trouble.
 
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RobK
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Re: Jet Airways: reports cash running out

Tue Dec 04, 2018 9:10 am

2 new Max frames were due to deliver to them through GECAS at the end of November but doesn't appear to have happened as both of the frames are still parked up at BFI. Net closing in ?
 
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unrave
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Re: Jet Airways: reports cash running out

Tue Dec 04, 2018 9:14 am

I have it on good authority that they are not current on aircraft lease payments.
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Channex757
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Re: Jet Airways: reports cash running out

Tue Dec 04, 2018 9:23 am

RobK wrote:
2 new Max frames were due to deliver to them through GECAS at the end of November but doesn't appear to have happened as both of the frames are still parked up at BFI. Net closing in ?

Maybe. Could also be the financial issues at GECAS itself making them reluctant to bend any rules for Jet.

Loss of credit is always the first major indicator of a potentially fatal tailspin. Fuel companies and lessors withdrawing credit or failing to complete new agreements due to balance sheet covenants being broken.

The GE Capital business (including its aviation division) is very much underwater at the moment.
 
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RobK
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Re: Jet Airways: reports cash running out

Tue Dec 04, 2018 9:25 am

unrave wrote:
I have it on good authority that they are not current on aircraft lease payments.


Their existing frames VT-JXA, VT-JXB, VT-JXC and VT-JXD are all GECAS owned too, as is their upcoming frame VT-JXG which hasn't flown yet. VT-JXE is the odd one out as that's owned by SMBC Aviation Capital. If they are late on payments for A,B,C and D then I can certainly see why GECAS are keeping hold of them. GECAS arent exactly in great financial health themselves, either.
 
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unrave
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Re: Jet Airways: reports cash running out

Wed Dec 05, 2018 4:38 am

CNBC TV18 is reporting that a deal with Eithad is imminent and an announcement can be expected to be made as early as mid December.

Meanwhile, Jet will cease all international operations out of Kerala with the cancellation of its two remaining flights in February. Time for the LCCs to move in.
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Spiderguy252
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Re: Jet Airways: reports cash running out

Wed Dec 05, 2018 9:11 am

The first thing that needs to happen is that employee salaries along with backlog, even with a reasonable interest payment if possible need to be cleared pronto.

News reports from this morning claim Naresh Goyal has stated that this will happen by April 1, but this is way too far down the line IMO. Needs to happen months earlier than that.
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BrooklyBOMgal
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Re: Jet Airways: reports cash running out

Wed Dec 05, 2018 10:52 am

Not sure if EY is the right choice...NG didn't have much of a choice either. Every airline EY touched is in trouble.
 
vadodara
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Re: Jet Airways: reports cash running out

Wed Dec 05, 2018 1:13 pm

Blaming EY for problems at airlines like Air Berlin or AlItalia is being generous. If anything EY three good money after bad.

EY may not be ideal from 9W’s perspective but in reality what is 9W’s perspective?

What EY means is it will become ST bus to Abu Dhabi. Might I add, if successful, 9W may have enough cash to start some long haul non-stops.
 
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Re: Jet Airways: reports cash running out

Thu Dec 06, 2018 12:20 pm

The people at Live from a Lounge have been keeping track of Jet AIrways' schedule changes in the wake of its financial troubles. The latest development is that the airline is shutting down seven stations: Jorhat, Aizwal, Silchar, Imphal, Madurai, Vizag and Raipur wef 9FEB18. This is in addition to the previously discussed closures of all flights between Kerala - Middle East. Read about it here
https://livefromalounge.boardingarea.co ... eductions/
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VTORD
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Re: Jet Airways: reports cash running out

Thu Dec 06, 2018 1:09 pm

unrave wrote:
The people at Live from a Lounge have been keeping track of Jet AIrways' schedule changes in the wake of its financial troubles. The latest development is that the airline is shutting down seven stations: Jorhat, Aizwal, Silchar, Imphal, Madurai, Vizag and Raipur wef 9FEB18. This is in addition to the previously discussed closures of all flights between Kerala - Middle East. Read about it here
https://livefromalounge.boardingarea.co ... eductions/

Wow! didn't BDQ-IDR start in October? I was looking for some tickets for the parents and it seems that they have quietly gone down to only 2 x daily from BOM. I remember they were running 4 x at one point in time.
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hohd
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Re: Jet Airways: reports cash running out

Thu Dec 06, 2018 2:43 pm

Jet offers the only nonstop between BOM and Vizag (in one direction, on the return AI also offers nonstop), so to terminate that monopoly would be foolish. Now Indigo and/or Spicejet will fill the void.
 
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unrave
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Re: Jet Airways: reports cash running out

Thu Dec 06, 2018 2:45 pm

Jet launched BOM-VTZ with great fanfare claiming that this would connect Vizag to 200+ destinations. WiIl be a great loss for the Vizag
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lightsaber
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Re: Jet Airways: reports cash running out

Thu Dec 06, 2018 2:54 pm

Spiderguy252 wrote:
The first thing that needs to happen is that employee salaries along with backlog, even with a reasonable interest payment if possible need to be cleared pronto.

News reports from this morning claim Naresh Goyal has stated that this will happen by April 1, but this is way too far down the line IMO. Needs to happen months earlier than that.

My translation, "We promise to pay you on April fool's day."

Is this a sick joke? PAY IS TIMELY. Period. No excuses. Paying about six months late? What?!?

They just jumped the shark.

Lightsaber
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Re: Jet Airways: reports cash running out

Thu Dec 06, 2018 3:04 pm

vadodara wrote:
Blaming EY for problems at airlines like Air Berlin or AlItalia is being generous. If anything EY three good money after bad.

EY may not be ideal from 9W’s perspective but in reality what is 9W’s perspective?

What EY means is it will become ST bus to Abu Dhabi. Might I add, if successful, 9W may have enough cash to start some long haul non-stops.


But it does show that EY wasnt able to fix an already troubled airline. So what is EY going to do differently here to ensure that 9W (and they) can get into the black?

The hunter strategy of buying broke and structurally unsound airlines failed with Swissair in the 90s and EY over this past decade.
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Re: Jet Airways: reports cash running out

Thu Dec 06, 2018 6:07 pm

lightsaber wrote:
Spiderguy252 wrote:
The first thing that needs to happen is that employee salaries along with backlog, even with a reasonable interest payment if possible need to be cleared pronto.

News reports from this morning claim Naresh Goyal has stated that this will happen by April 1, but this is way too far down the line IMO. Needs to happen months earlier than that.

My translation, "We promise to pay you on April fool's day."

Is this a sick joke? PAY IS TIMELY. Period. No excuses. Paying about six months late? What?!?

They just jumped the shark.

Lightsaber


You seem to have misunderstood it. They said that pay will be in installments till April and from April pay will be regular. After April 1, there won't be any dues on payments by the company.
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Slash787
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Re: Jet Airways: reports cash running out

Thu Dec 06, 2018 11:00 pm

Jet Airways customers struggle to get refunds

https://timesofindia.indiatimes.com/cit ... 960579.cms
 
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RobK
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 3:27 pm

Hot news from my source at BFI : VT-JXF and VT-JXH have now been mothballed at Boeing Field. They've been moved off site to long-term storage across the street and are now fully sealed and taped up. I guess no more new frames for them until they pay their bills. VT-JXG is currently in flight testing but will probably see the same fate.
 
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unrave
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 3:49 pm

RobK wrote:
Hot news from my source at BFI : VT-JXF and VT-JXH have now been mothballed at Boeing Field. They've been moved off site to long-term storage across the street and are now fully sealed and taped up. I guess no more new frames for them until they pay their bills. VT-JXG is currently in flight testing but will probably see the same fate.

This is serious news, if indeed true. This confirms our suspicion all along: Jet has serious ongoing payment issues with its lessors and as a result they are unable to place their new aircraft with lessors to do SLB.
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dtw2hyd
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 4:49 pm

While 9W's own financial issues may be the primary reason for delivery delays, MAX has its own share of issues, MCAS software needs an update and I doubt there are simulators are configured to simulate JT610 conditions. I doubt there is any airline rushing to take deliveries.
 
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RobK
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 4:52 pm

dtw2hyd wrote:
While 9W's own financial issues may be the primary reason for delivery delays, MAX has its own share of issues, MCAS software needs an update and I doubt there are simulators are configured to simulate JT610 conditions. I doubt there is any airline rushing to take deliveries.


Ah right.. my mistake. They're just mothballing them, sealing them up and parking them in a remote off-site location due to MCAS and pilot training issues, nothing to do with Jet Airways being effectively bankrupt. Got it.
 
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unrave
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 4:55 pm

dtw2hyd wrote:
While 9W's own financial issues may be the primary reason for delivery delays, MAX has its own share of issues, MCAS software needs an update and I doubt there are simulators are configured to simulate JT610 conditions. I doubt there is any airline rushing to take deliveries.

Fact Check: 40 MAX aircraft have been delivered since 1NOV18. SpiceJet alone has taken 4
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bostrv
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 5:08 pm

If 6E dumping capacity at low prices was the primary reason for 9Ws woes, the routes that they are cutting are ones on which 6E never operated on. And there was the curious IDR expansion just about when all the other cuts were starting to happen.
 
dtw2hyd
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 5:25 pm

RobK wrote:
... nothing to do with Jet Airways being effectively bankrupt


Four months since this thread started filled with so many fact claims, still, 9W is operational. The definition of fact is different on a.net.
 
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RobK
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 6:05 pm

They're only still operational because they've been robbing Peter to pay Paul. eg. staff not been paid for months, leases not been paid for months. The repo men will be in BOM before the end of the year to take back their 737-8 Maxes given the recent events over in Seattle. The net is closing in.
 
dtw2hyd
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 9:05 pm

No rush, only facts are preserved on this thread, correct? Let's check how many of those are real facts in a few months or years.
 
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lightsaber
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Re: Jet Airways: reports cash running out

Fri Dec 07, 2018 10:24 pm

dtw2hyd wrote:
RobK wrote:
... nothing to do with Jet Airways being effectively bankrupt


Four months since this thread started filled with so many fact claims, still, 9W is operational. The definition of fact is different on a.net.

Operational, but bills unpaid or not timely.

In Western countries, not paying timely is effectively bankrupt, in particular salaries. So by Western definition, they are effectively bankrupt.

Last I read, salaries are not expected to be whole until April. Do we have newer information? Links earlier in the thread documented unpaid salaries.

What we know from prior links is their opperations reliability is down. Since high yield passengers favor opperations reliability and buy accordingly, that cannot be helping RASK. We know they are dropping stations too.

When a company is effectively bankrupt, they still are opperating, it is just tenuous. e.g., not paying travel agent commission. Gee, that motivates a sales force (again, failure to pay timely).

This thread is Jet's cash situation, which is not timely. India's opperations bankruptcy laws need a wee bit of work. US code would have forced chapter 11 or 7 in two working days after the missed pay. Or did I miss all pay has been cleared (excluding executives)? Executives can go unpaid (at least per US laws).

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Re: Jet Airways: reports cash running out

Sat Dec 08, 2018 1:06 am

unrave wrote:
RobK wrote:
Hot news from my source at BFI : VT-JXF and VT-JXH have now been mothballed at Boeing Field. They've been moved off site to long-term storage across the street and are now fully sealed and taped up. I guess no more new frames for them until they pay their bills. VT-JXG is currently in flight testing but will probably see the same fate.

This is serious news, if indeed true. This confirms our suspicion all along: Jet has serious ongoing payment issues with its lessors and as a result they are unable to place their new aircraft with lessors to do SLB.

I missed this. If true this elevates the issue. But to what level?

1. Least bad is partial payments missed on new aircraft, but leases fully paid.
2. Partial payment missed and lease payments a little past due.
3. Jet is approaching 60 day lease default.

It amazes me how opaque Indian companies are allowed to be. If we see another Kingfisher issue, we will see Indian airlines penalized to where they beg for Capetown. Except Indigo. They prepay enough to mitigate the impact.

The road to effectively bankrupt grows.

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unrave
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Re: Jet Airways: reports cash running out

Sat Dec 08, 2018 7:52 am

ICRA downgraded Jet Airways to C yesterday. It is practically in default
https://www.icra.in/Rationale/ShowRatio ... /?Id=75657

The rating downgrade considers delays in the implementation of the proposed liquidity initiatives by the management, further aggravating its liquidity, as reflected in the delays in employee salary payments and lease rental payments to the aircraft lessors.Moreover, the company has large debt repayments due over the next four months (December-March) ofFY2019 (Rs. 1,700crore), FY2020 (Rs. 2,444.5 crore) and FY2021 (Rs. 2,167.9 crore). The company is undertaking various liquidity initiatives, which includes, among others, equity infusion and a stake sale in Jet Privilege Private Limited(JPPL), and the timely implementation of these initiatives is a key rating sensitivity.


But hey, the airline is still flying so everything should be in order.
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MileHFL400
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Jet Airways seeks a further $350M soft loan from EY

Sun Dec 09, 2018 12:24 pm

I came across an article today saying that Jet seeks a further loan from EY. Is this realistic seeing that EY has its fair share of financial problems?

Is it likely that Jet will still be in business in a year at this rate?

Does EY actually have the capacity to give such a loan?

https://m.businesstoday.in/story/jet-ai ... 97958.html
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avier
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Re: Jet Airways seeks a further $350M soft loan from EY

Sun Dec 09, 2018 1:27 pm

MileHFL400 wrote:
I came across an article today saying that Jet seeks a further loan from EY. Is this realistic seeing that EY has its fair share of financial problems?

Is it likely that Jet will still be in business in a year at this rate?

Does EY actually have the capacity to give such a loan?

https://m.businesstoday.in/story/jet-ai ... 97958.html


EY's capacity to give or not is not something anyone can easily guess. They are linked to the royal family of Abu Dabhi. EY as an entity is not in a position to give because they aren't profitable, but that doesn't mean the Royal Family cannot give (through EY). The owner of 9W is close to the sheiks in the Arab world since the time he set up his airline. So if he can convince his mates there to help him, why not.
 
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lightsaber
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Re: Jet Airways seeks a further $350M soft loan from EY

Sun Dec 09, 2018 3:17 pm

avier wrote:
MileHFL400 wrote:
I came across an article today saying that Jet seeks a further loan from EY. Is this realistic seeing that EY has its fair share of financial problems?

Is it likely that Jet will still be in business in a year at this rate?

Does EY actually have the capacity to give such a loan?

https://m.businesstoday.in/story/jet-ai ... 97958.html


EY's capacity to give or not is not something anyone can easily guess. They are linked to the royal family of Abu Dabhi. EY as an entity is not in a position to give because they aren't profitable, but that doesn't mean the Royal Family cannot give (through EY). The owner of 9W is close to the sheiks in the Arab world since the time he set up his airline. So if he can convince his mates there to help him, why not.

With reduced oil prices and everything else Abu Dhabi needs to invest in, I too question if they will just loan money.

Buy under the right terms? :yes:

So it is worth asking if EY has the funds. There are two different investment mindsets and the later will be far more costly to 9W's current owners.

Lightsaber
You only have the first amendment with the 2nd. If you're not going to offend someone with what you say, you don't have the 1st.
 
JoeCanuck
Posts: 4603
Joined: Mon Dec 19, 2005 3:30 am

Re: Jet Airways seeks a further $350M soft loan from EY

Sun Dec 09, 2018 7:03 pm

lightsaber wrote:
avier wrote:
MileHFL400 wrote:
I came across an article today saying that Jet seeks a further loan from EY. Is this realistic seeing that EY has its fair share of financial problems?

Is it likely that Jet will still be in business in a year at this rate?

Does EY actually have the capacity to give such a loan?

https://m.businesstoday.in/story/jet-ai ... 97958.html


EY's capacity to give or not is not something anyone can easily guess. They are linked to the royal family of Abu Dabhi. EY as an entity is not in a position to give because they aren't profitable, but that doesn't mean the Royal Family cannot give (through EY). The owner of 9W is close to the sheiks in the Arab world since the time he set up his airline. So if he can convince his mates there to help him, why not.

With reduced oil prices and everything else Abu Dhabi needs to invest in, I too question if they will just loan money.

Buy under the right terms? :yes:

So it is worth asking if EY has the funds. There are two different investment mindsets and the later will be far more costly to 9W's current owners.

Lightsaber


My guess is that EY will just bail altogether, which would be the final nail in the coffin for Jet. It really doesn't seem like EY is getting much value out of the deal as it is. Their initial investment has come to nothing and increasing it would be throwing good money after bad.
What the...?
 
avier
Posts: 325
Joined: Tue Aug 07, 2018 12:38 pm

Re: Jet Airways: reports cash running out

Tue Dec 11, 2018 4:46 pm

Jet Airways to shut services to 9 airports from February

Jorhat, Silchar, Imphal, Aizawl, Raipur, Sharjah Muscat, Madurai and Vizag.

https://www.thehindubusinessline.com/economy/logistics/jet-airways-to-shut-services-to-9-airports-from-february/article25719760.ece
 
User avatar
lightsaber
Moderator
Posts: 16022
Joined: Wed Jan 19, 2005 10:55 pm

Re: Jet Airways: reports cash running out

Tue Dec 11, 2018 4:54 pm

avier wrote:
Jet Airways to shut services to 9 airports from February

Jorhat, Silchar, Imphal, Aizawl, Raipur, Sharjah Muscat, Madurai and Vizag.

https://www.thehindubusinessline.com/economy/logistics/jet-airways-to-shut-services-to-9-airports-from-february/article25719760.ece

How much has Jet reduced the ASK's?
They keep cutting, but I have lost track of the total.


Lightsaber
You only have the first amendment with the 2nd. If you're not going to offend someone with what you say, you don't have the 1st.
 
Exeiowa
Posts: 39
Joined: Fri Jul 06, 2018 4:49 pm

Re: Jet Airways: reports cash running out

Tue Dec 11, 2018 5:23 pm

These are clearly all the actions of an airline without consideration to the amount of cash on hand, late salaries, reduced destinations, reduced service level, reduced provision from third parties, retaliating staff actions, questions on lease payments. Clearly no problems here. Key is Running out of cash, at some point this becomes run out of cash, we will see how long that takes, or if someone with deep pockets wants to backstop them.
 
User avatar
Slash787
Posts: 795
Joined: Sat Jul 23, 2016 9:37 pm

Re: Jet Airways: reports cash running out

Tue Dec 11, 2018 6:08 pm

I thought Muscat and Sharjah were doing good, dang it is bad times for Jet Airways.
 
behramjee
Posts: 4715
Joined: Sat Aug 02, 2003 4:56 am

Re: Jet Airways: reports cash running out

Tue Dec 11, 2018 7:59 pm

As I’ve mentioned previously, for there to be effective network optimization based on route profitability + cost reduction then they need to seriously consider suspending MAA-CDG and YYZ from 01Feb-19.
 
User avatar
CPS001
Posts: 69
Joined: Sat Jul 07, 2018 6:05 pm

Re: Jet Airways: reports cash running out

Tue Dec 11, 2018 8:04 pm

behramjee wrote:
As I’ve mentioned previously, for there to be effective network optimization based on route profitability + cost reduction then they need to seriously consider suspending MAA-CDG and YYZ from 01Feb-19.


How are you so sure MAA-CDG and AMS-YYZ are doing badly?

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