Jet Airways Eyes Restructuring To Save Costs
Aviation industry saw a massive drop in the number of passengers (of 12%) and in load factors (by 60%) in the month of March. India’s biggest private sector aviation player Jet Airways also felt the pinch of this staggering pull back in the aviation industry.
It has been learnt that the airline major is shutting down its city offices in many Tier II cities and in some of the metros. Jet Airways is mulling over a sweeping restructuring in order to cut costs.
It might be possible that Jet would implement strict financial controls and it is already considering another 300 layoffs from the engineering and maintenance staff. According to industry analysts, Jet is taking a proactive approach with a view to improve its viability. If the situation continues for more time with mounting debt and cash crunch, restructuring would become the ultimate option for the airlines.
Related posts:
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- Air India Plans To Lay Off 15000 Employees
- Sacked Employees To Be Taken Back: Goyal
- Worry Factor of Domestic Carriers Not Yet Over
- Financial mayhem makes Planes fly low
Posted by Economy News
on Sep 2 2010. Filed under Jet Airways and .
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