Economy crisis follows largest layoffs in Indian aviation sector, Jet Airways given pink slips to more than 800 cabin crew and customer care executives. Jet Airways and Kingfisher Airlines had announced a cost-cutting collaboration on Monday October 13. Meanwhile, sources say that Kingfisher airlines is also likely to lay off employees.
The downturn in the world economy has severely impacted the world aviation industry. The rapid increases in and the volatility in the crude oil prices and that of aviation turbine fuel and the slowdown in economic activity has resulted in a decline in air travel both on international and domestic segments of the air travel market.
Source: MC
Update; TOI reports 1000+ layoff
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