Financial Meltdown and Airlines!
November 29, 2008 – 4:58 pmThere was a time, when airlines were brimmed with passengers and commuters used to book their tickets months ago. October 2008 however, has witnessed a different picture altogether. Despite the biggest festive season of the year, almost 1 out of every 3 seats in Jet, Air India and Kingfisher were vacant. The air traffic data released on 12th November 2008 reveals that the month of October has faced a 65% load on all domestic airlines, with Air India having a load factor of 59%, and Kingfisher having a load of 58%. Few airline companies are considering it as a loss affecting “both (their) top line as well as bottom line”.
Considering such low numbers, these airlines decided to reduce the frequencies, and put Banglore, Goa, Pune and Jodhpur off their flight maps. The news is also in that Jet Airways chief are deciding some cost cutting measures including salary cuts by 20%!
So if you are looking forward to a domestic flight travel, check the next scheduled visit well in advance!