Thursday, May 30, 2019

Jet Airways may get a big time investor


In the mid 2000s, a foreign airline named Jet Airways, in wanting to emulate SQ tried hiring Singaporeans and ex cabin crew from SQ. Its management staff came to SG and conducted interviews. Hundreds applied for the job. A few dozens Singaporeans were hired and based in Mumbai.
Its senior cabin crew management staff were from MSA, the predecessor of SIA. In fact, a handful of retired SVPs and managers from SQ cabin crew were employed by that airline. It was doing very well but a decade later it was in financial difficulties. It couldn't pay the salaries of pilots and staff. I understand it could not even pay for the fuel it needed. Passengers were stranded since it was grounded from April this year.
A few days ago, its founder and wife who owns 51% of Jet were stopped from leaving India.
Etihad Airways which own 24% of the beleaguered airline is trying to get Mubadala the Abu Dhabi's sovereign fund to come in as a partner. Let's hope Jet gets a reprieve and be able to soar again.
For more read here

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