Mumbai, Sep 13: Although Jet Airways limped back to normalcy on Sunday, Sep 13, the airline management said, the stand-off has proved costly for the airline a loss of over Rs 2 billion (USD 40 million).

Speaking to media persons, Executive Director Saroj Dutta on Sunday, Sep 13, said that on an average the airlines is patronized by nearly 24,000 passengers daily across its network spanning domestic and international sectors.

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"On an average, our daily revenues are in the range of USD 8 million (Rs 40 crore), so you can calculate how much we stand to lose for the past five days," he said.

Dutta announced the setting up of a consultative body comprising representatives of the management and the staff to resolve pending issues concerning the pilots.

"As the crisis ended, the management also decided to re-instate four sacked pilots and not initiate any action against the nearly 500 pilots who agitated last week," Dutta said.

"It's an amicable settlement and all pilots would report for duties immediately," Dutta said.

The company would also not pursue the pending contempt petition before the Bombay High Court which was slated to come up for hearing on Monday, Sep 14, he added.

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