If there was a spate of bad news coming for Jet Airways, it wasn’t over yet. The grounded airline, which is trying to resurrect itself, by being sold to some new investors, who we don’t know yet. But the value of the airline continues to drop to any potential investor, given the airline has lost most of its aircraft, domestic slots and international slots too. On the international front as well, airports and creditors have moved forward on getting their slots back.
Jet Airways was declared bankrupt in The Netherlands a few weeks ago, and now, it is reported, that they will also lose their slots at Amsterdam pretty soon. As per local news portal Zakenreisnieuws, Jet Airways had some slots being lent to them by KLM, as a part of their cooperation agreement. These slots will go back to KLM. The rest of the slots, which were acquired by the regular process, will go back to the pool of slots available at Amsterdam Schiphol airport for allocation to other airlines.
KLM is already working on filling up the gaps created by Jet Airways in terms of India-Amsterdam traffic. They have brought forward the launch of the Boeing 787-10 operations to Delhi and Mumbai, and also upped the frequencies of the Mumbai flight. Further, they will launch a new flight to Bangalore soon as well.
With this move, the airline loses one more of its prized slots. The airline still has one 77W sitting at Amsterdam after it was impounded due to non-payment of money owed to the baggage handling company for Jet Airways at Schiphol.
Unfortunately, this means that there is one less thing interesting for any airline or investor to consider buying them out.
What are your thoughts on the latest move concerning Jet Airways?
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