According to reports, India's foremost privately-owned airline Jet Airways intends slashing its fleet capacity - the airline had earlier announced 18-20% reduction in its winter schedule from October to February.

The airline's Chief Commercial Officer Sudheer Raghavan said that the cuts result from "excess manpower," the company would try to redeploy the affected fleet members for providing better customer service.

The airline said that the cut in the fleet size results from slipping traffic and irrational fares of competitors. In fact, Jet Airways has no plans of re-launching any of its taken-off routes. Stressing the need for consolidating its presence, the private airliner also said that it does not plan to launch any new routes till the time the market conditions take a turn for the better.

Commenting on the proposed moves of the company, Chief Commercial Officer Sudheer Raghavan said: "We are not pulling out from any international routes nor are we adding new routes. We will review our stand on launching new routes if the market recovers. Right now, it's time for consolidation."

In fact, with the present state of the global economy, Jet Airways is also weighing up the idea of leasing out some of its narrow-bodied aircraft Boeing 737s, out of the 52 B-737s that it owns. The company has already leased out nine wide-bodied aircraft from its fleet.