Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Etihad Jet Airways keen to boost growth of India aviation industry  Join our daily free Newsletter

MENAFN - Khaleej Times - 24/07/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) E wide-ranging partnership has numerous advantages for travellers including enhanced connections across the world through an expanded codeshare agreement.

Cramer Ball Naresh Goyal and James Hogan during a joint Press conference in New Delhi on Wednesday. Jet Airways and Etihad Airways also stand to benefit from cost savings and synergies in areas such as fleet acquisition maintenance product development and training. — Supplied photo

Etihad Airways the national airline of the UAE and Jet Airways India’s premier international airline have outlined plans to reinforce their long-term commitment to the growth of India’s economy and aviation industry including a major new turnaround strategy for Jet Airways to return to profitability in three years.

The two airlines have been codeshare partners since 2008 and their relationship was strengthened in November 2013 after Etihad Airways received approvals to acquire a 24 per cent stake in Jet Airways marking it the first investment by a foreign carrier in India’s airline industry.

The wide-ranging partnership has numerous advantages for travellers including enhanced connections across the world through an expanded codeshare agreement and reciprocal ‘earn and burn’ rights and tier level recognition on the JetPrivilege and Etihad Guest frequent flyer programmes.

Jet Airways and Etihad Airways also stand to benefit from cost savings and synergies in areas such as fleet acquisition maintenance product development and training and continue to explore collaborative purchasing opportunities for fuel spare parts insurance and technology support.

Supporting the partnership the Jet Airways Board recently approved a three-year business plan to reshape the airline and secure its long-term future. The plan incorporates a series of critical measures that lay the foundations for a return to profitability such as long-term network fleet and product developments to optimise the airline’s domestic and international operations.

Focus areas for international operations will include network developments including new services to markets such as Europe China Australia and Southeast Asia expanded frequencies to existing routes and additional codeshares. Jet Airways’ two and three class aircraft product will also be enhanced and the seat count optimised on wide-body Boeing 777 and Airbus A330 aircraft.

In addition the domestic business model will improve connectivity across India and worldwide while removing complexity in product and fleet including the standardisation and reconfiguration of the Boeing 737 fleet.

To initiate the three-year turnaround plan the Jet Airways board and management team have already worked with auditors to clean up its balance sheet and write down overvalued non-cash assets.

Jet Airways has announced a new team at the helm with Cramer Ball as its new chief executive officer and Subodh Karnik as the chief operating officer pending regulatory approval.

Naresh Goyal chairman of Jet Airways said: “The coming together of Jet Airways and Etihad Airways has already proved a success for the two airlines and importantly has been beneficial for travellers and will also bring significant benefits to the Indian economy both in terms of growth job creation trade and tourism.”

James Hogan president and chief executive officer of Etihad Airways said: “India represents a considerable opportunity for airlines worldwide with more than 42 million international travellers reported last year and impressive future growth rates predicted by IATA. The challenge is ensuring that our industry is efficiently catering to rising demand not only in India’s major destinations but also smaller cities that remain largely unconnected and underserved.

“The Etihad Airways and Jet Airways partnership has significantly improved connectivity between India and the UAE and through our combined network and codeshare partnerships with other airlines the Indian public has convenient access to destinations across the Gulf region Middle East Africa Europe and North America.”

— businesskhaleejtimes.com

 


Khaleej Times




  MENA News Headlines
 Jul 5 2015 - Emaar Misr to add USD2.26b to market capitalizationMENAFN
(MENAFN) Emaar Misr will add USD2.26 million to the market capitalization after being listed over the Cairo bourse, according to the bourse chief, Amwal Alghad reported.The affiliate of the United ...

 Jul 5 2015 - Saudi Looks for 'Guinness' Record with 50,000 Coins MuralSaudi Press Agency
(MENAFN - Saudi Press Agency) A Saudi citizen seeks to set a Guinness Record with drawing the largest painting mural in the world with more than 50,000 coins, in support of his talent initiated since ...

 Jul 5 2015 - PM: Jordan is a stable country with well-defended bordersJordan News Agency
(MENAFN - Jordan News Agency) Prime Minister Abdullah Ensour said Jordan is a stable country, owing its security to the wisdom of its leadership and its people's awareness, which are its source of ...

 Jul 5 2015 - Jordan- Moderate weather forecast until TuesdayJordan News Agency
(MENAFN - Jordan News Agency) The weather will be moderate until Tuesday in the hilly areas while it will be relatively hot to hot in the Badia, the Jordan Valley and Aqaba with high clouds and ...

 Jul 5 2015 - Israeli forces arrest 9 PalestiniansJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation troops arrested 9 Palestinians in the occupied West Bank, the Palestinian Interior Ministry said in a statement Sunday.The occupation forces broke ...

 Jul 5 2015 - Jordan- Border guards receive 275 new Syrian refugeesJordan News Agency
(MENAFN - Jordan News Agency) A total of 275 Syrian refugees from various age groups, entered the Kingdom through various crossing points during the past 72 hours.The border guards provided the ...

 Jul 5 2015 - Kuwait- His Highness the Amir cables President of Venezuela on nat'l dayKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah sent on Sunday to the President of Venezuela Nicolas Maduro a cable of congratulation on the ...

 Jul 5 2015 - Kuwait- Message from His Highness the Amir delivered to Nicaraguan PresidentKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The State of Kuwait's non-resident ambassador to Nicaragua, Samih Johar Hayat, has delivered a message from His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber ...

 Jul 5 2015 - Kuwait- His Highness the Amir cables President of Cape Verde on nat'l dayKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah sent on Sunday to the President of Cape Verde Jorge Carlos Fonseca a cable of congratulation on the ...

 Jul 5 2015 - Terrorism main topic of Arab Parliament's urgent meetingKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Arab Parliament (AP) held an urgent meeting here Sunday which focused on the recent terrorist attacks that hit a number of Arab countries.A press release by ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help