Jet Airways Group currently operates a fleet of 124 aircraft; airline says it is making all efforts to minimise disruption.

According to the new penalty framework, an economy-class passenger would have to pay an amount in between Rs 2,000 and Rs 3,800 if he or she is cancelling the seat seven days prior to flight departure.

Jet Airways said on Monday it would seek shareholder approval next month to convert debt into equity, increase its share capital and allow lenders to nominate a director on its board to help resolve its financial problems.

The sale is valid for both one-way and return journeys for both business and economy class of travel with travel validity effective January 7 for international travel, it said.

The Jet Airways said the flights were cancelled from the Chhatrapati Shivaji Maharaj International Airport (CSMIA) due to \"operational issues\". However, the airline source claimed it was due to pilots' scarcity.

Air India's turnaround was so futile that even after pumping in Rs 28,000 crore into the airline, it could barely generate operating profits (not even net profits) of Rs 403.03 crore in two financial years  (2015-16 and  2016-17).

Days after the Civil Aviation Ministry came out with its draft proposal defining the rights of air passengers, the airlines are up in arms against several new norms which they say may lead to expensive air fares.

The ministry of civil aviation has released draft passenger charter that defines the rights of air passengers. A long list of rules aims to empower passengers in case of flight delays, cancellations and other forms of inconveniences caused by the airlines.

On Tuesday, the airline had to cancel 47 flights, or about 5 per cent of its total flights per day, causing inconvenience to passengers. P&W has not given a timeline to resolve the engine issues.

Apart from ordering a review of the exorbitant cancellation penalty, government is also reportedly working on a passenger bill of rights (PBOR) that will incorporate global best practices.

A day after Mumbai witnessed heaviest rains in 24 hours in August since 1997, the situation is slowly getting back to normal as water level is receding at several places.

The boom in the aviation sector has set the stage for airlines to grow their ancillary revenues.