Jet Airways is not the only Asian airline in trouble

SINGAPORE: India’s Jet Airways was finally grounded on Wednesday after a long battle against losses and debt.

“There is intense competition, fierce competition not just between full-service carriers with low-cost carriers , but with FSCs competing with each other,” said Mr Sobie. “There is growth in Asia, but the reality is that capacity and the number of competitors are growing faster.” “In other markets, like Singapore, we’ve seen full-service carriers launch their own low-cost carriers to address the budget market, and while they are not all successful, they have helped to deal with the changes in the market. Asiana is playing catch-up, and Jet acquired JetLite to meet that market, but later moved to shut it down.”The state-owned Oneworld carrier not only missed its target to return to profit in 2018, but warned that losses will continue.

“This is a region of diverse markets, some of which are seeing strong growth from new LCC entrants while others are very dependent on outbound cargo from key manufacturing centres,” said the association in a press release. This, he explained would no doubt hasten the failure of some carriers, but it would also allow other airlines to move into the markets of those airlines that fail.

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