Because of the global financial crisis ,all the sectors around the world are affected.The Aviation industries in India also strongly hit by this crisis and they are facing huge loss.All because of this is due to the hike in fuel price and the downfall in stock markets.Because of this the Jet Airways has given pink slips to its 800 employees today.The JetAIrways Chariman Naresh Goyal said that the Civil Aviation industry is in great crisis and the Government should look on to it.He also said that“We are here to protect the interest of our employees. Whatever we are is because of them. The idea is not to get rid of the people or staff but there are bigger issues to be dealt with.”The disaappointed Jet Airways employees have decide to take this matter to the MNS chief RajThackrey and they have requested him to intervene in this matter.Before this the JetAirways and KingFisher made a deal of joint venture in the international flights and because of this move they can save upto 1500 crore.Also the Kingfisher chairman Vijay Mallya said that if needed there will be layoffs in Kingfisher also.Both these jumbo’s in Aviation industry requested the Union Minister for Aviation to intervene in this crisis and asked him to make a bailout package to tackle this crisis.The sector is staring down at losses of over Rs 4,000 crore and want a financial bailout of about Rs 5,000 crore, which could be a mix of soft loans and decrease in high aviation turbine fuel (ATF) taxes to a uniform four per cent across the country.Goyal also said that”Consolidation in aviation industry is inevitable. Market share is not an answer to profitability. Rationalisation of routes, capacity and costs etc are essential for survival. Rationalisation will improve the bottomline,” Goyal said adding that divide and rule was no longer feasible”.So there more layoff to expected from the Aviation Industry.
Jet sacks 1900 Employees!!!