Jet Retrenches 1900, Kingfisher To EmulateJet Airways announced sacking of total of 1900 staff. Both Kingfisher and Jet, India's biggest private carriers, are contemplating to lay off more employees as part of their strategy tosynergize resources and cut costs. Besides, both of them are also sending back 15 narrow bodied aircrafts to the leasing companies after the end of the leasing period later this year and in 2009.
Owing to the funds' crunch, Air India is set to get Rs 1000-1500 crore to meet its requirements, plus about Rs 1000 crore for working capital, from government, announced Civil Aviation minister Praful Patel in Hyderabad. The central government is mulling lowering tax rates and operating charges to help airlines hurt by rising ATF costs and huge losses. According to IATA (International Air Transport Association), India is one the most expensive places to buy jet fuel.