Jet Airways CEO denies reports of shut down, calls it factually incorrect & malicious

Jet Airways CEO Vinay Dube on Friday expelled reports about the aircraft’s maintainability. Naming such reports truthfully off base, as well as vindictive, he said the aircraft has been executing a few measures to lessen costs and acknowledge higher incomes “for wanted business efficiencies”. Remarks from Jet Airways’ administration came after news office Reuters announce referring to a senior organization official that the carrier told its pilots that it might be grounded in 60 days except if cost-cutting measures including pay cuts are set up.

“The carrier might likewise want to preclude any guess from claiming a stake deal,” he said.

Pointing at rupee devaluation and “the confound between high fuel costs and low tolls”, Mr. Dube expressed that the discourse with the aircraft’s representatives was to “notify them of the difficulties being looked by the flying part”.

Full statement from Vinay Dube

Indian aviation is experiencing strong growth and Jet Airways is well placed to be a part of this growth story. The company is committed to creating a growth-oriented, sustainable future and a revitalized experience armed with the addition of 225 B737-Max fuel-efficient aircraft, which will be inducted in its fleet over the next decade, with 11 being inducted this fiscal. This envisioned growth will, in fact, require additional human capital.

In line with the Company, stated the focus of creating a healthier and more resilient business, it has been implementing several measures to reduce costs as well as realize higher revenues, for desired business efficiencies. Some of these areas amongst others include sales and distribution, payroll, maintenance and fleet simplification.

As part of these measures, the Company has been in dialogue with all its key stakeholders – internal and external. The dialogue with employees has been to apprise them of the challenges being faced by the aviation sector in India and by the Company in particular, with an intent to enlist their full support and cooperation for realizing necessary savings across all business functions.

Despite the high growth environment, the aviation industry is currently passing through a tough phase given a depreciating rupee and the mismatch between high fuel prices and low fares. let Airways has been in existence for over 25 years and through the years has been successful in combating such business volatility.

While continuing with cost-saving and revenue enhancement measures to create a growth-oriented sustainable future, Jet Airways will continue to accord highest priority to safety and will ensure that safe operation continue to be resourced as required under regulatory compliances required under regulatory compliances.

We are confident that the various transformation initiatives identified and under implementation by the Company will help in addressing the current issues faced by us and the industry. In fact, several transformation initiatives have already started to deliver positive results.