Jet Airways Trainee First Officer
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Jet Airways is not ceding the number 1 space to anyone: Nikos Kardassis, CEO
Last week, India's biggest private carrier Jet Airways decided to count the fax machines it had at its offices and airport counters globally. The number was found to be high at 300. Chief executive officer Nikos Kardassis immediately ordered a pruning down and today six fax machines are all that remain functional as the airline has switched over to e-mails.
Kardassis, 54, who served as the first CEO of Jet (which came into being in 1993) from 1994 to 1999, has been back in the saddle since 2008 and is now looking at every minute detail to cut costs. The worry is clear - Jet has had five consecutive loss-making quarters till the beginning of this financial year and a red ink of Rs 1,420 crore last fiscal. And it's profitability that the Greek-America airline expert has now set his sights on. This is even as lowcost IndiGo snaps on its heels with its domestic market share just 1.4 percentage points behind Jet-JetKonnect's combined domestic share in June, "Though the fight is not for market share, we are also not ceding the number one space to anyone," Kardassis says, adding that Jet now operates 75% of its domestic flights in the budget space.
While Jet has a total loan of $2 billion, the worry is that of this $500 million taken for working capital requirement carries an interest rate of 11-12 %. The aircraft loan of $1.5 billion is, however, backed by aircraft worth $2 billion. His work is cut out. He has to now reduce loans by $400 million this fiscal through a string of measures like sale-and-leaseback of aircraft and reducing costs wherever possible.
Kardassis, together with Jet promoter Naresh Goyal, has also decided not to consider layoffs as a cost-cutting option even in these tough times for the Indian aviation industry. "Our people are our greatest assets. We have, however, decided not to fill the vacancies arising out of natural attrition like retirement or resignations . From June 2011 to June 2012, the workforce has gone down by 1,000 and no one has been laid off," says the airline veteran who started his career with TWA. Jet is lucky to be better off than the other two full service Indian carriers , Air India and Kingfisher - one of which is battling to keep afloat.
About 200 expat pilots - on whom an airline spends almost twice as much as Indian pilots - have been eased out in the past one year. "Through this move, we expect to save $50 million from 2013. Besides , we have accelerated the process of hiring and training Indian pilots". It's just not staff costs. Airport space across its domestic and international network, including London, Newark and Singapore , has been reduced by half to curtail rentals. Long-term contracts have also been renegotiated with all vendors and technical partners. Apart from the external environment , the structure of the aircraft itself has come in focus of Kardassis and his team. They are looking at the possibility of having a light aircraft in air as flying more weight means burning more fuel to keep it airborne — something that is not financially viable when jet fuel accounts for almost half of an airline's total operating cost.
"Aircraft seats are being changed to lighter and more comfortable material. Catering is being tweaked to reduce utensils in meal trays. Heavy magazines are out of the aircraft. Ovens have been taken out of Jet-Konnect planes and only one remains to serve hot food to the eight premiere seats in those planes," Kardassis says highlighting the cost-cutting measures.
The focus is also on increasing ancillary revenue by introducing pay meal concept in full service flights also as an option. The airline may also allow people to pre-book seats for a charge. The initiatives seem to be bearing fruit as the airline has declared a modest profit of Rs 36 crore for the April-June quarter.
Accepting that the budget model is here to stay, Jet is using its full service and budget mix to maximize revenue by constantly changing service on routes where it senses demand for either of the two models. "Constant evaluation happens on the route dynamics. Recently, we converted 10 JetKonnect routes to full service" .
While Jet has benefitted on the domestic front from Kingfisher's woes and on the international front from AI's labour unrest, it does not seem too bothered by the LCCs. Since similar woes — prohibitive jet fuel costs, airport expenses and a mismatch in revenue and costs - plague all airlines, the claims of one player being profitable are not taken too seriously by the others. The airlines concede that they are at a crossroad where they need introduction of a cost-friendly environment to survive.
Jet Airways is not ceding the number 1 space to anyone: Nikos Kardassis, CEO - The Economic Times
Kardassis, 54, who served as the first CEO of Jet (which came into being in 1993) from 1994 to 1999, has been back in the saddle since 2008 and is now looking at every minute detail to cut costs. The worry is clear - Jet has had five consecutive loss-making quarters till the beginning of this financial year and a red ink of Rs 1,420 crore last fiscal. And it's profitability that the Greek-America airline expert has now set his sights on. This is even as lowcost IndiGo snaps on its heels with its domestic market share just 1.4 percentage points behind Jet-JetKonnect's combined domestic share in June, "Though the fight is not for market share, we are also not ceding the number one space to anyone," Kardassis says, adding that Jet now operates 75% of its domestic flights in the budget space.
While Jet has a total loan of $2 billion, the worry is that of this $500 million taken for working capital requirement carries an interest rate of 11-12 %. The aircraft loan of $1.5 billion is, however, backed by aircraft worth $2 billion. His work is cut out. He has to now reduce loans by $400 million this fiscal through a string of measures like sale-and-leaseback of aircraft and reducing costs wherever possible.
Kardassis, together with Jet promoter Naresh Goyal, has also decided not to consider layoffs as a cost-cutting option even in these tough times for the Indian aviation industry. "Our people are our greatest assets. We have, however, decided not to fill the vacancies arising out of natural attrition like retirement or resignations . From June 2011 to June 2012, the workforce has gone down by 1,000 and no one has been laid off," says the airline veteran who started his career with TWA. Jet is lucky to be better off than the other two full service Indian carriers , Air India and Kingfisher - one of which is battling to keep afloat.
About 200 expat pilots - on whom an airline spends almost twice as much as Indian pilots - have been eased out in the past one year. "Through this move, we expect to save $50 million from 2013. Besides , we have accelerated the process of hiring and training Indian pilots". It's just not staff costs. Airport space across its domestic and international network, including London, Newark and Singapore , has been reduced by half to curtail rentals. Long-term contracts have also been renegotiated with all vendors and technical partners. Apart from the external environment , the structure of the aircraft itself has come in focus of Kardassis and his team. They are looking at the possibility of having a light aircraft in air as flying more weight means burning more fuel to keep it airborne — something that is not financially viable when jet fuel accounts for almost half of an airline's total operating cost.
"Aircraft seats are being changed to lighter and more comfortable material. Catering is being tweaked to reduce utensils in meal trays. Heavy magazines are out of the aircraft. Ovens have been taken out of Jet-Konnect planes and only one remains to serve hot food to the eight premiere seats in those planes," Kardassis says highlighting the cost-cutting measures.
The focus is also on increasing ancillary revenue by introducing pay meal concept in full service flights also as an option. The airline may also allow people to pre-book seats for a charge. The initiatives seem to be bearing fruit as the airline has declared a modest profit of Rs 36 crore for the April-June quarter.
Accepting that the budget model is here to stay, Jet is using its full service and budget mix to maximize revenue by constantly changing service on routes where it senses demand for either of the two models. "Constant evaluation happens on the route dynamics. Recently, we converted 10 JetKonnect routes to full service" .
While Jet has benefitted on the domestic front from Kingfisher's woes and on the international front from AI's labour unrest, it does not seem too bothered by the LCCs. Since similar woes — prohibitive jet fuel costs, airport expenses and a mismatch in revenue and costs - plague all airlines, the claims of one player being profitable are not taken too seriously by the others. The airlines concede that they are at a crossroad where they need introduction of a cost-friendly environment to survive.
Jet Airways is not ceding the number 1 space to anyone: Nikos Kardassis, CEO - The Economic Times
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@bawa
When you finish talking to them, please let all of us know what did they have to say....
Anyone else with any other news please please let all of us know...
When you finish talking to them, please let all of us know what did they have to say....
Anyone else with any other news please please let all of us know...
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I personally think Everyone on this thread is dead or they do not wanna commit on some rumors they heard... GUYS!!!! GIRLS!!!! lets get this thread rolling once again....
Lemme start by sharing some news..
Our interviews are most probably scheduled for NOVEMBER
If anyone has some other news, please share and get this thread rolling again...
Lemme start by sharing some news..
Our interviews are most probably scheduled for NOVEMBER
If anyone has some other news, please share and get this thread rolling again...
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No one is going to share any inside news dude.... 
My source is quite reliable.. Although he did inform me that till december 2012 they will not require any first officers on the 737s...
So just to remain positive i am assuming if they resume the process by november and by the time they finish with us vacancies will pop up again for the 737s or other aircraft..
Its alll about being positive..
My source is quite reliable.. Although he did inform me that till december 2012 they will not require any first officers on the 737s...
So just to remain positive i am assuming if they resume the process by november and by the time they finish with us vacancies will pop up again for the 737s or other aircraft..
Its alll about being positive..
Thing is that we've lost all faith in speculations ! Only a mail from 9W Recruitment Centre can cheer us up now..
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I completely understand and agree with your point of view..
and i am 100% sure that they do not require pilots on the 37s till december 2012.. i can vouch for that....
But i am just sharing the info tht i got and am trying to help people out here and i would appreciate if other people would also do the same.
and i am 100% sure that they do not require pilots on the 37s till december 2012.. i can vouch for that....But i am just sharing the info tht i got and am trying to help people out here and i would appreciate if other people would also do the same.
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Surprise! Air India flies past Jet in September
More people flew Air India on the domestic sectors than Jet Airways – a trend which should certainly worry Jet since it is also losing out to the low-cost competitor IndiGo for the last several months.
Surprise! Air India flies past Jet in September | Firstpost
More people flew Air India on the domestic sectors than Jet Airways – a trend which should certainly worry Jet since it is also losing out to the low-cost competitor IndiGo for the last several months.
Surprise! Air India flies past Jet in September | Firstpost
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@ speed bird 100
Dude no one is sure about any news or information they receive and i may be wrong too.. But i am 100 % sure about Jet not requiring any FOs on 37s till December 2012 and that is confirmed..
I am just trying to help dude... and i would appreciate if other people could shed some light if and when they know anything..
Just out of curiosity!!! what have you heard??
Dude no one is sure about any news or information they receive and i may be wrong too.. But i am 100 % sure about Jet not requiring any FOs on 37s till December 2012 and that is confirmed..
I am just trying to help dude... and i would appreciate if other people could shed some light if and when they know anything..
Just out of curiosity!!! what have you heard??
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urgent Query
Guys, I have a UK FRTOL which was issued in 2008 and is valid until 2018.Based on this COP ie RTR(C) was issued to me by WPC after clearing PART 1 Exam ,which got expired in feb 2012.
Now how do I get it renewed .... just by giving PART 1 again or do I have to do 30 hrs of flying as well.... Please ADVISE.
(My Indian FRTOL is expiring march 2014)
Now how do I get it renewed .... just by giving PART 1 again or do I have to do 30 hrs of flying as well.... Please ADVISE.
(My Indian FRTOL is expiring march 2014)
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I have been following the updates on this forum for quite sometime now, and I think most of the guys here either no idea or they are getting their information from wrong sources.
Talking to Gloria or any other hr person is not gonna give a clear picture, as she hardly has any idea herself, and in all fairness to her , why would she be bothered abt new recruitment.. Her plate is already full with managing hundreds of jet airways pilots whose licencese, medical issues and million other things she got to manage.
There is no new likely recruitment in near future. And by near future I mean at least 6 months.
Jet is going to get airbus 330 ac's for their international operations. They are going to get captains and f/o's from kingfisher and might upgrade some from existing 737 f/o's
As of the excess of f/o's on 737's, to most of the extent it's not true. They have many in number but all are being used up to their optimum. Now a days in a average, every f/o in del gets a roster of about 62-65 hrs a month with 3 -4 standby. This translates to 70-74 hrs of flying in month. Overtime is paid if u cross 75 hrs and no one is practically doing overtime now a days. So it's a win win situation for the company as they making the most outta their current strength of f/o's.
If they hire more, ppl will do less hrs and get paid up to 75 hrs fixed.
And those who are on standby, I would suggest them to hold their horses from sometime to come as at least upto this year they stand no chance to be hired.
But on the bright side, those who are waiting for their interview should take so,e solace in knowing that they will accessed before anyone else gets a shot.
Cheers
Talking to Gloria or any other hr person is not gonna give a clear picture, as she hardly has any idea herself, and in all fairness to her , why would she be bothered abt new recruitment.. Her plate is already full with managing hundreds of jet airways pilots whose licencese, medical issues and million other things she got to manage.
There is no new likely recruitment in near future. And by near future I mean at least 6 months.
Jet is going to get airbus 330 ac's for their international operations. They are going to get captains and f/o's from kingfisher and might upgrade some from existing 737 f/o's
As of the excess of f/o's on 737's, to most of the extent it's not true. They have many in number but all are being used up to their optimum. Now a days in a average, every f/o in del gets a roster of about 62-65 hrs a month with 3 -4 standby. This translates to 70-74 hrs of flying in month. Overtime is paid if u cross 75 hrs and no one is practically doing overtime now a days. So it's a win win situation for the company as they making the most outta their current strength of f/o's.
If they hire more, ppl will do less hrs and get paid up to 75 hrs fixed.
And those who are on standby, I would suggest them to hold their horses from sometime to come as at least upto this year they stand no chance to be hired.
But on the bright side, those who are waiting for their interview should take so,e solace in knowing that they will accessed before anyone else gets a shot.
Cheers
