Jet Airways Crisis
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Company LOGO
CRISIS IN JET AIRWAYS www.company.com
Company LOGO
INTRODUCTION Jet Airways (India) Private Limited founded by Naresh Goyal in 1991. Jet Airways also operates two low-cost airlines including JetLite (formerly known as Air Sahara) and Jet Airways Konnect In April 2007, Jet Airways took over Air Sahara, which was later on renamed as JetLite Jet Airways introduced another low-cost airline Jet Airways Konnect in May 2009
www.company.com
Company LOGO
JET AIRWAYS PRESENCE IN INDIA
www.company.com
Company LOGO
DAILY FLIGHTS Operates over 400 flights daily, to as many as 44 destinations in India including Hyderabad, Chandigarh, Delhi, Goa, Ahmadabad, Bangalore, Mumbai, Amritsar, Lucknow, Kolkata. Was the first private airline of India to fly to international destinations - it operates daily international flights to 20 international destinations, including Hong Kong, Kathmandu, Kuala Lumpur, Singapore, Bangkok, London, New York.
www.company.com
Company LOGO
CHALLENGES FACED BY JET AIRWAYS • High cost of the aviation turbine fuel, in the first half year of 2008. • Prices of crude begin to rise again and will play major role in profitability of aviation industry. • The second has been the global economic downturn, which has led to a steep fall in the demand for air travel and intense pressure on yields.
www.company.com
Company LOGO
• These templates are for personal use only and must not be distributed, sold or displayed on the web by anyone other than Presentation Helper. • Bullet point – Sub Bullet
www.company.com
Company LOGO
FINANCIAL PERFORMANCE OF JETAIRWAYS • • • •
Operating revenue has been increased . Income has been increased. Pat (profit after tax) decreases. Revenue passenger decreases slightly.
( All points are of 2008-2009 and compared with 2007-08).
www.company.com
Company LOGO
FINANCIAL PERFORMANCE OF JETAIRWAYS
www.company.com
Company LOGO
www.company.com
Company LOGO
MAIN PROBLEM • 2 pilots Capt. Sam Thomas and Capt. D. Balaraman were sacked. • Reason acc to the executive director was due to internal rules and discipline. • But acc to pilots it was due to their role in NAG (National Aviators Guild )
www.company.com
Company LOGO
Pilots point of view • Pilots believed that 2 pilots of Jet Airways were dismissed because both were office-bearers of the newly formed NAG. • Problem was also due to that the foreign management was making Indian pilots wait indefinitely for promotions. • Management failed to produce the reasons for sacking the pilots. • Few more senior captains were terminated from there services.
www.company.com
Company LOGO
Management point of view • It said that reason behind sacking pilots were internal disciplinary issues and the lawyers were consulted before sacking of pilots • Jet Airways moved an application in the High Court to pass an order restraining the NAG and its members from going on any form of strike. • The management was insisting on dissolving the union before taking pilots back on duty.
www.company.com
Company LOGO
• As a result to show anger and protest around 500 pilots did not join the duty reporting sick
www.company.com
Company LOGO
Negative Effects Loss of over Rs 2 billion ($40 million). Transfer of nearly 60 percent of the passengers on other airlines, hence it spoiled the goodwill of company among public. Thousands of passengers were affected due to dirupted flights. Also the passengers who tried other airways had to pay double or even triples prices for d same journey.
www.company.com
Company LOGO
AMICABLE AGREEMENT • Management decided to re-instate 4 sacked pilots and not initiate any action against the nearly 500 pilots who agitated. • A consultative body would be set up comprising representatives of the management and the staff to resolve issues concerning the pilots. • The committee includes two directors of the company and the chief executive officer plus two pilots representatives to ensure smooth functioning and proper implementation of the decisions.
www.company.com
Company LOGO
EFFECT OF SICK LEAVES
www.company.com
Company LOGO
THANK YOU
www.company.com
CRISIS IN JET AIRWAYS www.company.com
Company LOGO
INTRODUCTION Jet Airways (India) Private Limited founded by Naresh Goyal in 1991. Jet Airways also operates two low-cost airlines including JetLite (formerly known as Air Sahara) and Jet Airways Konnect In April 2007, Jet Airways took over Air Sahara, which was later on renamed as JetLite Jet Airways introduced another low-cost airline Jet Airways Konnect in May 2009
www.company.com
Company LOGO
JET AIRWAYS PRESENCE IN INDIA
www.company.com
Company LOGO
DAILY FLIGHTS Operates over 400 flights daily, to as many as 44 destinations in India including Hyderabad, Chandigarh, Delhi, Goa, Ahmadabad, Bangalore, Mumbai, Amritsar, Lucknow, Kolkata. Was the first private airline of India to fly to international destinations - it operates daily international flights to 20 international destinations, including Hong Kong, Kathmandu, Kuala Lumpur, Singapore, Bangkok, London, New York.
www.company.com
Company LOGO
CHALLENGES FACED BY JET AIRWAYS • High cost of the aviation turbine fuel, in the first half year of 2008. • Prices of crude begin to rise again and will play major role in profitability of aviation industry. • The second has been the global economic downturn, which has led to a steep fall in the demand for air travel and intense pressure on yields.
www.company.com
Company LOGO
• These templates are for personal use only and must not be distributed, sold or displayed on the web by anyone other than Presentation Helper. • Bullet point – Sub Bullet
www.company.com
Company LOGO
FINANCIAL PERFORMANCE OF JETAIRWAYS • • • •
Operating revenue has been increased . Income has been increased. Pat (profit after tax) decreases. Revenue passenger decreases slightly.
( All points are of 2008-2009 and compared with 2007-08).
www.company.com
Company LOGO
FINANCIAL PERFORMANCE OF JETAIRWAYS
www.company.com
Company LOGO
www.company.com
Company LOGO
MAIN PROBLEM • 2 pilots Capt. Sam Thomas and Capt. D. Balaraman were sacked. • Reason acc to the executive director was due to internal rules and discipline. • But acc to pilots it was due to their role in NAG (National Aviators Guild )
www.company.com
Company LOGO
Pilots point of view • Pilots believed that 2 pilots of Jet Airways were dismissed because both were office-bearers of the newly formed NAG. • Problem was also due to that the foreign management was making Indian pilots wait indefinitely for promotions. • Management failed to produce the reasons for sacking the pilots. • Few more senior captains were terminated from there services.
www.company.com
Company LOGO
Management point of view • It said that reason behind sacking pilots were internal disciplinary issues and the lawyers were consulted before sacking of pilots • Jet Airways moved an application in the High Court to pass an order restraining the NAG and its members from going on any form of strike. • The management was insisting on dissolving the union before taking pilots back on duty.
www.company.com
Company LOGO
• As a result to show anger and protest around 500 pilots did not join the duty reporting sick
www.company.com
Company LOGO
Negative Effects Loss of over Rs 2 billion ($40 million). Transfer of nearly 60 percent of the passengers on other airlines, hence it spoiled the goodwill of company among public. Thousands of passengers were affected due to dirupted flights. Also the passengers who tried other airways had to pay double or even triples prices for d same journey.
www.company.com
Company LOGO
AMICABLE AGREEMENT • Management decided to re-instate 4 sacked pilots and not initiate any action against the nearly 500 pilots who agitated. • A consultative body would be set up comprising representatives of the management and the staff to resolve issues concerning the pilots. • The committee includes two directors of the company and the chief executive officer plus two pilots representatives to ensure smooth functioning and proper implementation of the decisions.
www.company.com
Company LOGO
EFFECT OF SICK LEAVES
www.company.com
Company LOGO
THANK YOU
www.company.com
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