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However, the crisis at Jet, long the biggest operator in Mumbai, has opened a window of opportunity for rivals. Jet’s slots are being allocated to other airlines based on factors like fleet and staff strength, a civil aviation ministry source said on condition of anonymity. Once allotted, an airline can keep the slot for one flying season or six months and Jet can reclaim the slots if it is revived by the end of the flying season, the source said. The current flying season ends on Oct. 26, according to the Indian aviation regulator’s website cufflink engraving.
“We are assisting airlines and airports to bring in capacity rapidly to ensure that fares remain stable,” India’s Ministry of Aviation said on Twitter on Wednesday, adding it was set to meet airport authorities and airlines to assess matters on Thursday cufflink engraving. A gap in capacity has pushed up fares by 30-40 percent since September in India, ratings agency ICRA has said. India’s biggest airline IndiGo has been rapidly inducting new Airbus SE A320neos into its fleet in recent months..
Low-cost airline SpiceJet pledged to add 27 planes over the next two weeks, adding it would launch 24 new flights from Mumbai and Delhi. “The industry is currently facing severe shortage of capacity and SpiceJet remains committed to make all possible efforts to minimize passenger inconvenience,” said Ajay Singh, SpiceJet’s chairman. SpiceJet shares closed 2.7 percent higher on Thursday, while shares in IndiGo’s parent InterGlobe closed down 1.7 percent. Jet shares ended the day down 31.5 percent cufflink engraving.
Some 200 employees gathered at the airline’s headquarters in Mumbai to push its management for answers about their future. At the same time, about 800 Jet employees and their families held a march near Parliament House in New Delhi, many carried placards, and some were in tears, blaming the government for failing to do anything to rescue the airline cufflink engraving. “I travel from New Delhi to Kolkata just to vote, that vote should carry some value, isn’t it? If you treat us like this why should we vote?” asked Sushma Pradhan, a cabin crew member, who took part in the protest in New Delhi..
A Jet collapse would be a big blow to Indian Prime Minister Narendra Modi, who is currently seeking re-election in a weeks’ long general election. Modi’s critics blame his government for rising unemployment. India’s opposition Congress party also criticized Modi’s government over Jet’s downfall cufflink engraving. “The very fact that Jet Airways has collapsed is basically a manifestation of the failed economy,” said Congress spokesman Sanjay Jha, noting that Jet’s collapse had come despite a stable global economic situation, and muted oil prices..