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
 Jun 25 2016 - Clouds Interiors, an Interior Design Company in Doha Qatar, is Now Offering Office Interior DesignsMENAFN Press
(MENAFN Press) --> DOHA, Qatar, June 25, 2016 /PRNewswire/ -- The founders of Clouds Interiors, a company that offers interior design Qatar business owners can rely on, are pleased to announce that ...

 Jun 25 2016 - IOM Responds to Malaria Upsurge in Bentiu, South SudanMENAFN Press
(MENAFN Press) IOM Responds to Malaria Upsurge in Bentiu, South Sudan GENEVA, Switzerland, June 24, 2016/APO (African Press Organization)/ -- IOM is scaling up resources to respond to an upsurge in ...

 Jun 25 2016 - Mediterranean Migrant Arrivals in 2016: 214,861 Deaths: 2,861MENAFN Press
(MENAFN Press) Mediterranean Migrant Arrivals in 2016: 214,861; Deaths: 2,861 GENEVA, Switzerland, June 24, 2016/APO/ -- IOM reports an estimated 214,861 migrants and refugees entered Europe by sea ...

 Jun 25 2016 - New Fantasy Novel by D.L. Jordan Hailed as the Next Harry PotterMENAFN Press
(MENAFN Press) The Genesis of Destiny, a book by author D.L. Jordan is being compared to Harry Potter and is set to captivate young adults and adults alike. The Genesis of Destiny: Book 1: The ...

 Jun 25 2016 - SCOTUS Ruling on SDVOSBVOSB Companies Serving the Dept of Veterans AffairsMENAFN Press
(MENAFN Press) SCOTUS Ruling on SDVOSB / VOSB Companies Serving the Dept of Veterans Affairs Centered by Patient Care, Driven by Innovation Veterans Serving Veterans Our team has decades of ...

 Jun 25 2016 - Adipic Acid Market Research Value Analysis and Forecasts to 2021MENAFN Press
(MENAFN Press) Adipic Acid Market Research Value Analysis and Forecasts to 2021 ReportsWeb added report on "Global Adipic Acid Consumption 2016 Market Research Report'', the report comprises ...

 Jun 25 2016 - Jordan to sign deal with EU for energy projects at USD101.51mnMENAFN
(MENAFN) Jordan will sign a deal with the EU granting the kingdom almost USD101.51mn in order to support renewable energy projects.Furthemore, the grant will fund the second phase of the renewable ...

 Jun 25 2016 - Egypt's rubber exports decline by 29 percentMENAFN
(MENAFN) Egypt's exports of rubber dropped by 29 percent to USD16.5mn in Jan-March period of this year against USD23.08mn of 2015.Accordingly, almost 10 companies captured 99.2 percent of whole ...

 Jun 25 2016 - Qatar Exchange to develop ties with regional univirsitiesMENAFN
(MENAFN) Qatar Exchange will enhance and spread its collaboration with local institutions of higher studies, involving leading univrsities and colleges.Moreover, the collaboration will be by ...

 Jun 24 2016 - Saudi Arabia's Sovereign Ratings and 'Negative' Outlook AffirmedMENAFN Press
(MENAFN Press) 24th June 2016 Saudi Arabia's Sovereign Ratings and 'Negative' Outlook Affirmed RATING ACTION Capital Intelligence Ratings (CI Ratings), the international credit rating ...

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