Spice Jet Folds
Never mind
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I hate to say I told you so.....but this is the second Airline in that part of the world, that Sanjiv Kapoor has taken the Reins, and subsequently tanked the company.
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I have been following Spicejets problems for several months now and had been putting off making this post hoping things would improve. Hopefully the next round of refinancing approved today will allow Spicejet to right it's ship and return to profitability. Having had a few airlines in my past not make it I am well aware of the pain and the feeling of helplessness that comes along with the failure of ones airline. If I can help any of my former friends at Spicejet with a letter or something please do not hesitate to personal message me through this site. I will try to check back in here on a regular basis. Good luck my friends. Tailwinds and all the best.
David Earnest
Spicejet April 2008- March 2011
David Earnest
Spicejet April 2008- March 2011
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I can't see how the Ministry of Civil Aviation is able to force anyone to loan money to Spicejet or any airline for that matter and tell the oil companies to extend credit, after the airline is way behind on its payments. They haven't even paid most of their employees. I feel bad for those employees at the airport having to take the insults, while waiting to get paid for weeks.
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What a joke:-"They have been given permission by the govt to sell tickets until march '15.
Who in their right mind will pre-buy tickets on a bankrupt carrier?
On a side note unlike Kingfisher which did own some aircraft - most of Spicejet's fleet is leased and lessors have removed - or are in the process of removing their aircraft. That will just leave some Bombardier Q400's - lets hope the Canadian's will get theirs out before the airport authorities refuse departure unless they pay half a million dollars per aircraft which was the dilemma presented to Kingfisher banks and lessors.
Who in their right mind will pre-buy tickets on a bankrupt carrier?
On a side note unlike Kingfisher which did own some aircraft - most of Spicejet's fleet is leased and lessors have removed - or are in the process of removing their aircraft. That will just leave some Bombardier Q400's - lets hope the Canadian's will get theirs out before the airport authorities refuse departure unless they pay half a million dollars per aircraft which was the dilemma presented to Kingfisher banks and lessors.
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Why on earth would anyone consider buying a ticket on SG at any price based on the uncertainty of the situation? The DGCA 6 month month notice period is the most ridiculous thing I have heard about. How can a regulator decide on a pilots career prospects? In my book, no pay= no fly and negates the notice period. Indigo and 9W will be happy to take SG pilots.
Last edited by NGFellow; 18th Dec 2014 at 01:54. Reason: add word
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Interesting news report states that Spicejet has asked 50 B737 Captains to leave at the end of the month (Dec 31, 2014). These Capts had apparently turned in their resignation earlier in the year and were simply serving their "forced" six month notice period. They could have joined 9W or 6E earlier had it not been for this notice period. Now they will be out of a job at the end of the year and will have to wait until their projected training slots open (based on their given notice period). I personally feel DGCA has no right to dictate such notice periods. I expect there will be a complete management change after the new year from the CEO, VP Ops etc.
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SpiceJet asks 50 captains in its flight crew to leave in a month
ET News Today :
The move shows SpiceJet will stick to its “shrink to grow” strategy as it readies itself for a possible fund infusion from its ex-promoter Ajay Singh.
Spicejet has asked 50 of the captains in its flight crew to leave in a month, according to a person in the know, underscoring the troubled low-cost airline's intention to cut costs and adhere to a trimmed workforce. "It is true. We have been asked to leave in 30 days even though the DGCA stipulates six months as notice period," said a pilot. SpiceJet chief operating officer Sanjiv Kapoor said this relates to pilots "who have communicated their decision in writing to leave the company."
"We are working through options that are fair and in compliance with regulations but at the same time addresses the fact that we currently have a surplus of pilots. We are seeking additional inputs before making any final decision. In the meantime, we have been waiving the notice period for most pilots who have requested a waiver," he said.
The move shows SpiceJet will stick to its "shrink to grow" strategy as it readies itself for a possible fund infusion from its former promoter Ajay Singh and an arm of JP Morgan Chase. The investors may be planning to infuse Rs 1,200 crore into the company, according to officials at the civil aviation ministry. Current promoter Kalanithi Maran is looking to exit, the person quoted above said.
The move shows SpiceJet will stick to its “shrink to grow” strategy as it readies itself for a possible fund infusion from its ex-promoter Ajay Singh.
Spicejet has asked 50 of the captains in its flight crew to leave in a month, according to a person in the know, underscoring the troubled low-cost airline's intention to cut costs and adhere to a trimmed workforce. "It is true. We have been asked to leave in 30 days even though the DGCA stipulates six months as notice period," said a pilot. SpiceJet chief operating officer Sanjiv Kapoor said this relates to pilots "who have communicated their decision in writing to leave the company."
"We are working through options that are fair and in compliance with regulations but at the same time addresses the fact that we currently have a surplus of pilots. We are seeking additional inputs before making any final decision. In the meantime, we have been waiving the notice period for most pilots who have requested a waiver," he said.
The move shows SpiceJet will stick to its "shrink to grow" strategy as it readies itself for a possible fund infusion from its former promoter Ajay Singh and an arm of JP Morgan Chase. The investors may be planning to infuse Rs 1,200 crore into the company, according to officials at the civil aviation ministry. Current promoter Kalanithi Maran is looking to exit, the person quoted above said.
Last edited by zulu_01; 29th Dec 2014 at 06:03.
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The Truth
Letter from mgmt to those pilots who had resigned earlier:
SpiceJet statement to the media:
Further to your resignation, the Management has approved your release from SpiceJet wef 31 Dec 2014.
Considering your service with SpiceJet, the Management wants you to reconsider your decision on resignation and give you time till 28 Dec 2014 6pm for withdrawal of resignation and being retained at the same service seniority in SpiceJet.
If you stand on your decision to resign, we will be relieving you with your last working date with Spicejet as 31 Dec 2014 as per the terms and conditions set forth in your appointment letter.
Thanks & Regards,
Senior Vice President - Human resources.
Considering your service with SpiceJet, the Management wants you to reconsider your decision on resignation and give you time till 28 Dec 2014 6pm for withdrawal of resignation and being retained at the same service seniority in SpiceJet.
If you stand on your decision to resign, we will be relieving you with your last working date with Spicejet as 31 Dec 2014 as per the terms and conditions set forth in your appointment letter.
Thanks & Regards,
Senior Vice President - Human resources.
SpiceJet would like to clarify some misleading media reports regarding a decision to allegedly “Sack 50 Captains”. SpiceJet places on record that the 43 (not 50) pilots in question are those that have previously resigned from the company, and have already served at least three months of notice period.
As we currently have a surplus of pilots after fleet reductions, we are looking for ways to adjust staffing headcount down accordingly. We are looking into ways to do this in a fair and reasonable manner, keeping in mind related regulations and balancing the interests of all stakeholders.
We have also waived notice period requirements for several pilots who requested to leave early. No pilot who has not resigned is impacted by this, the issue at hand relates to resigned pilots only.
As we currently have a surplus of pilots after fleet reductions, we are looking for ways to adjust staffing headcount down accordingly. We are looking into ways to do this in a fair and reasonable manner, keeping in mind related regulations and balancing the interests of all stakeholders.
We have also waived notice period requirements for several pilots who requested to leave early. No pilot who has not resigned is impacted by this, the issue at hand relates to resigned pilots only.
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Not the spice of life!
I was their as well, Shown the door out along with six others. It never seems to amaze me how these corrupt mismanaged airlines and there managers always seem to go down with the ship. Good riddance!
