Jet Airways` Tryst with Expats
Code : HRM0089 |
Region : Asia |
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THE FLIGHT OF JET AIRWAYS: EXPATS IN THE INDIAN AVIATION SECTOR: |
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JET AIRWAYS – FLYING WITH EXPATS
In the early 1990s, Jet Airways hired an expatriate, Nikos Kardasis (Kardasis), for the top position of CEO. Kardasis was at the helm of affairs from 1994 to 1999 and he helped the company achieve a leadership position in the airline industry in India. Kardasis was instrumental in the development of code shares with a number of foreign airlines that improved Jet Airways’ network connectivity. After quitting in 1999..
GROUNDING OF JET AIRWAYS
Increased competition from budget airlines such as SpiceJet and Indigo which offered low airfare seats, forced Jet Airways to lower its fares. However, even with the low fares, the airline continued to offer full services. This increased its operational costs and it had to resort to increased borrowing from the banks to run its business. .
EXHIBITS:
Exhibit I:Jet Airways’ Revenue and Profit/Loss: 2004 to 2019 (In INR Billion)
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