India’s airlines start to cut hard
Reality has started to hit home in India – the days of rapid capacity growth are over, at least for now. The poor results of listed carriers Jet Airways and SpiceJet have shown just how difficult the airline market in India has become. For example, the break-even load factor of Jet Airways’ ‘value-based’ unit, JetLite, hit 111% in the first quarter of 2008/09 (to Jun-08).
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