Same as Kingfisher Air lines, Low Cost Spicejet Air line also in same Crisis Pilots and Pax on Alert
Same as Kingfisher Air lines, Low Cost Spicejet Air line also in same Crisis Pilots and Pax on Alert
All Low Cost Spicejet Air line Pilots and Pax are looking for better options now With the crisis-ridden Low Cost Spicejet Air line desperately seeking an infusion of fresh funds, one of the potential investors the Air line is believed to have approached is Singapore-based TigerAir .
Even as the budget Air line Low Cost Spicejet Air line was struggling to maintain its Flight schedule, financial cracks are beginning to appear. In a clear sign of its slipping health, and going the Kingfisher Air line way, the Air ports Authority of India (AAI) has put Low Cost Spicejet Air line 's operations on cash and carry mode from Tuesday. An Air line is put on cash and carry mode when it is unable to clear its dues in the time specified by its vendor or when its dues mount beyond acceptable limit.
A letter sent out by AAI's executive director (finance) last Monday directs Air port directors of Delhi, Mumbai, Kolkata, Chennai and Guwahati to not accept cheques from the beleaguered Air line, which has been in the swirl of financial crisis for the last one year.
It has been decided by the competent authority to put operation of Low Cost Spicejet Air line Ltd on cash and carry basis, (with effect from) from 4th December, 2014 (from mid-night), that is 5th December, 2014 (0.00 hours), till further order as per AAI approved credit policy
The exact dues owed to the Air ports by the Air line is not known. However, such a stringent action is not taken unless it crosses the acceptable limit. Air port services like landing, navigation, parking, luggage handling and others are usually availed by Air lines on credit. However, when dues scale beyond a certain limit, they are asked to pay cash on a daily basis.
The finance chief of the AAI has ordered the Air ports to receive payments only in cash or demand draft – only from commercial banks or through Electronic Data Capturing Terminals – prior to giving permission for the take-off of Low Cost Spicejet Air line 's Air craft.
Under cash and carry, the benefit of TDS (tax deducted at source) shall be given to the Air line at the time of payment. TDS can be accounted at the time of deposit of certificate of deduction submitted to AAI corporate headquarters," AAI's finance head wrote in the letter.
Meanwhile, the Air line continues to cancel more Flights as more Air craft go aground, causing tremendous inconvenience to passengers who were being informed about cancellations at the last minute.
Concerned over the avalanche of complaints from Low Cost Spicejet Air line Flyers, the Directorate General of Civil Aviation (DGCA) has also swung into action and has asked the Air line to submit weekly report on its operation, containing information on fleet size, Flight cancellations and delays, measures taken to minimise inconvenience of passengers, refund time and other such details. "There is insufficient information right now," said a reliable source in the DGCA.
He said the authority was looking into issues relating to passenger convenience and safety. In this regard, the DGCA had received in writing from Low Cost Spicejet Air line that it was maintaining the minimum equipment list (MEL) for the maintenance of Air craft.
Low Cost Spicejet Air line ’s slipping financial health and the recent round of last-minute Flight cancellations are prompting travel agents to be cautious in selling tickets of the budget carrier.
Several travel agents are advising customers to refrain from Flying Low Cost Spicejet Air line until the budget Air line stabilises operations and manages to find a cash-rich investor, it is reliably learned.
“We understand that the Air line is going through a tough time and has not been able to maintain integrity of schedules. Hence, we are dissuading customers from making fresh bookings before more clarity emerges on Low Cost Spicejet Air line ’s future roadmap,” said Manoj Shah, President, Tour Operators & Travel Agents Association (TAG) of Gujarat and proprietor of Krishna World Travels.
Low Cost Spicejet Air line , which recently reported its fifth consecutive quarter of losses, has been returning some of its Boeing 737 Air craft, as a result of which its fleet has shrunk to 22 from 35 in summer. This has resulted in Flight reductions on several routes.
“In certain sectors, eleventh hour cancellations are still happening. Hence, we are appraising passengers of the ground situation and advising them to go in for other Flight options for the time being,” said Reji Philip of Mumbai-based Cosmos Agencies.
In an email response to a Business Line questionnAir e, Low Cost Spicejet Air line Chief Operating Officer Sanjiv Kapoor said: “We have seen no evidence of what is claimed. We are in touch with all our major partners.”
In the last several months, Low Cost Spicejet Air line had flooded the market with lucrative advance fares, a move which helped Flyers get bargain deals.
Anuj Pathak, proprietor of Ahmedabad-based Radiant Holidays, said: “We had sold four tickets of Low Cost Spicejet Air line to a family on Ahmedabad-Mumbai sector for Rs 10,000. When they reached the Air port, they were told that the Flight is cancelled. Finally, the family had to fork out Rs 30,000 to Fly on another carrier,” Pathak added.
News about Low Cost Spicejet Air line Crisis
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AAI puts financially-embattled low-cost carrier Low Cost Spicejet Air line on cash-and-carry
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Low Cost Spicejet Air line chief operating officer Sanjiv Kapoor has said his Air line cannot be compared to Kingfisher Air lines because it is paying salaries to employees on time, has ...
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Low Cost Spicejet Air line denies crisis talk - The Smart Investor
Low Cost Spicejet Air line chief operating officer Sanjiv Kapoor has said his Air line cannot be compared to Kingfisher Air lines because it is paying salaries to employees on time, has ...
Crisis-ridden Low Cost Spicejet Air line,
Low Cost Spicejet Air line crisis,
Low Cost Spicejet Air line PNR Status,
Low Cost Spicejet Air line Schedule,
Low Cost Spicejet Air line Web Check In,
Low Cost Spicejet Air line News,
All Low Cost Spicejet Air line Pilots and Pax are looking for better options now With the crisis-ridden Low Cost Spicejet Air line desperately seeking an infusion of fresh funds, one of the potential investors the Air line is believed to have approached is Singapore-based TigerAir .
Even as the budget Air line Low Cost Spicejet Air line was struggling to maintain its Flight schedule, financial cracks are beginning to appear. In a clear sign of its slipping health, and going the Kingfisher Air line way, the Air ports Authority of India (AAI) has put Low Cost Spicejet Air line 's operations on cash and carry mode from Tuesday. An Air line is put on cash and carry mode when it is unable to clear its dues in the time specified by its vendor or when its dues mount beyond acceptable limit.
A letter sent out by AAI's executive director (finance) last Monday directs Air port directors of Delhi, Mumbai, Kolkata, Chennai and Guwahati to not accept cheques from the beleaguered Air line, which has been in the swirl of financial crisis for the last one year.
It has been decided by the competent authority to put operation of Low Cost Spicejet Air line Ltd on cash and carry basis, (with effect from) from 4th December, 2014 (from mid-night), that is 5th December, 2014 (0.00 hours), till further order as per AAI approved credit policy
The exact dues owed to the Air ports by the Air line is not known. However, such a stringent action is not taken unless it crosses the acceptable limit. Air port services like landing, navigation, parking, luggage handling and others are usually availed by Air lines on credit. However, when dues scale beyond a certain limit, they are asked to pay cash on a daily basis.
The finance chief of the AAI has ordered the Air ports to receive payments only in cash or demand draft – only from commercial banks or through Electronic Data Capturing Terminals – prior to giving permission for the take-off of Low Cost Spicejet Air line 's Air craft.
Under cash and carry, the benefit of TDS (tax deducted at source) shall be given to the Air line at the time of payment. TDS can be accounted at the time of deposit of certificate of deduction submitted to AAI corporate headquarters," AAI's finance head wrote in the letter.
Meanwhile, the Air line continues to cancel more Flights as more Air craft go aground, causing tremendous inconvenience to passengers who were being informed about cancellations at the last minute.
Concerned over the avalanche of complaints from Low Cost Spicejet Air line Flyers, the Directorate General of Civil Aviation (DGCA) has also swung into action and has asked the Air line to submit weekly report on its operation, containing information on fleet size, Flight cancellations and delays, measures taken to minimise inconvenience of passengers, refund time and other such details. "There is insufficient information right now," said a reliable source in the DGCA.
He said the authority was looking into issues relating to passenger convenience and safety. In this regard, the DGCA had received in writing from Low Cost Spicejet Air line that it was maintaining the minimum equipment list (MEL) for the maintenance of Air craft.
Low Cost Spicejet Air line ’s slipping financial health and the recent round of last-minute Flight cancellations are prompting travel agents to be cautious in selling tickets of the budget carrier.
Several travel agents are advising customers to refrain from Flying Low Cost Spicejet Air line until the budget Air line stabilises operations and manages to find a cash-rich investor, it is reliably learned.
“We understand that the Air line is going through a tough time and has not been able to maintain integrity of schedules. Hence, we are dissuading customers from making fresh bookings before more clarity emerges on Low Cost Spicejet Air line ’s future roadmap,” said Manoj Shah, President, Tour Operators & Travel Agents Association (TAG) of Gujarat and proprietor of Krishna World Travels.
Low Cost Spicejet Air line , which recently reported its fifth consecutive quarter of losses, has been returning some of its Boeing 737 Air craft, as a result of which its fleet has shrunk to 22 from 35 in summer. This has resulted in Flight reductions on several routes.
“In certain sectors, eleventh hour cancellations are still happening. Hence, we are appraising passengers of the ground situation and advising them to go in for other Flight options for the time being,” said Reji Philip of Mumbai-based Cosmos Agencies.
In an email response to a Business Line questionnAir e, Low Cost Spicejet Air line Chief Operating Officer Sanjiv Kapoor said: “We have seen no evidence of what is claimed. We are in touch with all our major partners.”
In the last several months, Low Cost Spicejet Air line had flooded the market with lucrative advance fares, a move which helped Flyers get bargain deals.
Anuj Pathak, proprietor of Ahmedabad-based Radiant Holidays, said: “We had sold four tickets of Low Cost Spicejet Air line to a family on Ahmedabad-Mumbai sector for Rs 10,000. When they reached the Air port, they were told that the Flight is cancelled. Finally, the family had to fork out Rs 30,000 to Fly on another carrier,” Pathak added.
News about Low Cost Spicejet Air line Crisis
Travel agents nervous about Low Cost Spicejet Air line ending up like Kingfisher
The travel trade community fears that in case Low Cost Spicejet Air line goes bust they could face difficulties in securing refunds. This is because while full-service Air lines,…
AAI puts financially-embattled low-cost carrier Low Cost Spicejet Air line on cash-and-carry
Low Cost Spicejet Air line fell 16.17% to Rs 14.00 by the close of trading on BSE on media reports that the low-cost domestic carrier is facing a severe financial crisis.
Low Cost Spicejet Air line chief operating officer Sanjiv Kapoor has said his Air line cannot be compared to Kingfisher Air lines because it is paying salaries to employees on time, has ...
After Kingfisher, Low Cost Spicejet Air line in crisis
Amid reports of a possible stake sale, low-cost Air line Low Cost Spicejet Air line on November 22 said it is exploring all options to mop up funds to overcome the cash crunch. The ...
Low Cost Spicejet Air line denies crisis talk - The Smart Investor
Low Cost Spicejet Air line chief operating officer Sanjiv Kapoor has said his Air line cannot be compared to Kingfisher Air lines because it is paying salaries to employees on time, has ...
Crisis-ridden Low Cost Spicejet Air line,
Low Cost Spicejet Air line crisis,
Low Cost Spicejet Air line PNR Status,
Low Cost Spicejet Air line Schedule,
Low Cost Spicejet Air line Web Check In,
Low Cost Spicejet Air line News,
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