An average of 3 analyst estimates have pegged real losses at up to Rs 2k cr for the July-Sept quarter.
Employees at Air India Air Transport Services Ltd., the national carrier’s subsidiary for ground services have called for the industrial action after the airline refused to reinstate some sacked contract workers.
More than 50 pilots have resigned in the last couple of months with a notice period of just 48 hours.
Jet Airways, SpiceJet and IndiGo account for 71 per cent of the total passenger traffic.
Jet Airways has also roped in Boston Consulting Group to help it with revenue enhancement measures.
India’s biggest airline by market share signed a pact for 50 ATR 72-600 planes last year. It had received 12 planes as of September and was supposed to get 20 by January.
Etihad owns 24% of Jet and 50.1% in Jet Privilege. Jet Airways is in talks with potential buyers to sell its stake in the business.
Crisil has downgraded the facilities to 'CRISIL BB-/Negative/CRISIL A4' from 'CRISIL BBB/Stable/CRISIL A3+'.
The airline told ET that it continuously evaluates fleet requirements but didn’t comment on workforce reductions.
ICRA downgraded the long-term rating to A+ from AA and reaffirmed the short-term rating of A1 on the loan facilities.
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