22. January 2007
Air India's Wadia probe complete
Date: 22. Jan. 2007
The Air India probe on how industrialist Nusli Wadia’s bags containing a revolver and live bullets cleared security check at the airport is complete.
“The report was submitted to the management on Monday,” said Air India spokesperson S Venkat. “We will take action if laxity is found. If necessary, it may lead to termination of the employee’s service. Negligence at any level cannot be tolerated.”
The Bombay Dyeing chairman’s baggage cleared X-ray screening despite containing a firearm at the Chhatrapati Shivaji airport on January 13. Wadia, who was headed to Dubai, was however, detained and questioned at the Dubai airport.
The family claimed a domestic help accidentally packed the revolver and bullets and that Wadia himself had no knowledge about the contents of his bag.
But a senior Air India official, on condition of anonymity, said that a passenger’s ignorance about his baggage cannot be an excuse. He said passengers are asked questions about their baggage — whether they packed themselves, if they are carrying anything on behalf of someone, if they have anything to declare etc. “These are mandated under law and ignorance is no excuse. Though the primary responsibility lies with us, passengers too are answerable,” the official added.
While Air India officials remained tight-lipped on whether they would question Wadia on his arrival, there are chances the Customs will since the firearm was not declared when it went out of the country. However, Bombay Dyeing officials remained noncommittal on Wadia’s arrival.
Source: http://www.hindustantimes.com
Air India Suspends Employee for Not Detecting Firearms in Baggage
Date: 22. Jan. 2007
India_Air India suspended an employee who failed to detect a gun and 30 bullets in the check-in luggage of a prominent Indian businessman during a state of high security at Indian airports, the state-run carrier said Friday.
The airline ordered an inquiry after officials at Dubai airport discovered the firearm and ammunition in the luggage of Nusli Wadia, an industrialist who had flown to Dubai from the Indian city of Mumbai on Jan. 13.
Airports across the country at that time were on a high alert following intelligence reports that Kashmiri militants might try to hijack an Indian plane.
"We have taken a serious view of the incident," Air India's statement said. "Based on initial inquires, the person who was in charge of the handling the X-ray of the baggage has been suspended."
Wadia was able to show his Indian arms license to authorities in Dubai, Press Trust of India reported.
A spokesman for the Wadia Group said the revolver and cartridges were inadvertently packed by Wadia's house staff, who delivered the baggage to him at the Mumbai airport, PTI reported.
Wadia owns a major textile company, Bombay Dyeing. He is a grandson of Pakistan's founder Mohammad Ali Jinnah.
Under Indian law, passengers wishing to carry arms on board an Indian airline must have permission from the Bureau of Civil Aviation Security.
Wadia violated the rules by not informing Indian authorities, PTI said. No charges have yet been brought against the businessman.
Source: http://www.amtonline.com
Jet Airways surges 6 pc on BSE
Date: 22. Jan. 2007
Private air carrier Jet Airways' shares on Monday gained over Rs 48 on the Bombay Stock Exchange after returning to profit in its December quarter results.
The shares of the company were trading at Rs 771.30, up 6.58 per cent on the BSE at mid-day.
After two previous loss-making quarters, Jet Airways posted a net profit of Rs 40 crore in the third-quarter ended December 31, on the back of lower fuel costs and growing overseas operations.
The company had reported losses of Rs 55.13 crore and Rs 44.98 crore in the first and second quarter of this fiscal, respectively.
However, the company's shares have lost nearly 34 per cent in the past year as the 52-week high touched by the scrip was Rs 1,178.90 on January 20, 2006 on the BSE.
A total of 3.22 lakh shares of the company had changed hands on the BSE in the morning trade.
Source: http://economictimes.indiatimes.com
To launch US ops by August: Jet Airways
Date: 22. Jan. 2007
Jet Airways says that the load factor in January and February looks steady while March may be lean. It is better poised on the fuel front in Q4; currently there is no fuel hedge, they mention.
Jet is not looking at cutting or rolling back its fuel surcharge. It is working on launching US operations by August. Jet's international operations will have 22 wide bodies and three 737s by FY09. It expects to stabilise its international operations by FY10.
The airlines is targeting a long-term sustainable domestic EBITDAR margin of 20-24% and international EBITDAR margin of 20-22%.
Source: http://www.moneycontrol.com
Jet Airways profits continue to be burdened by high capacity
Date: 22. jan. 2007
Jet Airways reported net earnings of INR400 million ($9 million) for the third fiscal quarter ended Dec. 31, 2006, a 34% decline from year-ago profits of INR610 million.
The carrier said its third quarter "is traditionally the peak quarter in the company's fiscal year" but that overcapacity on the subcontinent once again was a drag on its bottom line.
Domestic load factor dropped 2.4 points to 70.1% as industry capacity soared 40% compared to the year-ago period. "The impact of the recent capacity increase on yields was mitigated to some extent by high demand during the peak travel quarter," Jet said.
Revenues climbed 35.4% to INR20.3 billion, with the percentage of revenues from international operations rising 8 points to 22%. Jet did not provide expense figures but reported that third-quarter EBITDAR fell 14.2% to INR3.08 billion. It also earned a pre-tax profit of INR484 million from the October sale and leaseback of a 737, which boosted the final result.
The airline flew 3.18 billion RPKs during the three-month period, a year-over-year increase of 31.6%. Capacity was up 33.3% to 4.6 billion ASKs and systemwide load factor dipped 0.8 point to 69.3%. Passenger numbers were ahead 14% to 2.7 million.
"The positive financial result in the quarter reflected the peak season impact as well as various network initiatives and improved use of the company's inventory through better yield management," Jet said. "The company expects the fourth quarter to reflect the seasonality inherent in the business."
Jet currently operates 47 737s, three A340-300Es, two A330-200s and eight ATR 72-500s on more than 330 flights to 49 destinations. Ramp-up of its international operation will commence in April when it starts taking delivery of new 777-300ERs and A330s.
Source: http://www.atwonline.com
