Even as Jet Airways limped back to normally today after a five-day stir by over 500 pilots, the stand-off has proved costly for the airline – a loss of over Rs 2 billion
A grim executive director Mr. Saroj Dutta revealed to reporters today afternoon that on an average the airlines is patronized by nearly 24,000 passengers daily across its network spanning domestic and international sectors.
“On an average our daily revenues are in the range of $8 million so you can calculate how much we stand to lose for the past five days,” he said.
He, however, pointed out that there were minor savings on certain variables like aircraft turbine fuel since the flights did not operate.
Moreover, during the past five days the airline made attempts to transfer nearly 60 per cent of the passengers to other airlines and a small number even to its sister company – Jet Lite .
Meanwhile, in a bid to lure back passengers, Jet Airways and Jet Airways Konnect have announced a 50 per cent discount in fares for five days starting tomorrow. An official spokesperson for the airline confirmed this today in the evening.
The discount would be applicable on the total fare, which includes basic fare and fuel surcharge .It would be valid for all bookings between Monday and Friday in the economy class on all domestic sectors, the airline said.
Mr. Dutta announced the setting up of a consultative body comprising representatives of the management and the staff to resolve pending issues concerning the pilot’s .The competitive officer plus two pilots’ representative to ensure smooth functioning and proper implementation of its decisions.
As the crisis ended, the management also decided to reinstate four sacked pilots and not initiate any action against the nearly 500 pilots who agitated last week, Mr. Dutta said.
“It’s and amicable settlement and all pilots would report for duties immediately,” Mr. Dutta said .The Company would also not pursue the pending contempt petition before the Bombay high Court, which was slated to come up for hearing tomorrow he added.
Following an end to the five-day long pilot’s stir. Jet Airways limped back to normal operations with plans to operate as many at 37 flights, including two on the international sector here today.
The operations are expected to completely normalize by the evening when the roistering of duties for the pilots is done and the airline would announce resumption of more operations.
Until then, the airline has announced cancellations of 15 international and 137 domestic flights across the network.
Despite suffering losses in revenues during the five-day long stir by its pilots, Jet Airways market valuation remained more or less unaffected by the proceedings. According to an analysis of the share price movement of Jet Airways in the past week, the stock has dropped just 1.75 per cent during the period between 8 September and 11 September.
Moreover, the Jet scrip actually settled up 164 per cent at Rs 257.40 on Friday. while its market capitalization stood at Rs 2,222.24 on the BSE.
|
|
