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
 Feb 20 2017 - Qatar's glass market estimated to be USD195m in 2015MENAFN
(MENAFN) According to the latest report by Qatar Development Bank (QDB), Qatar's market size for glass and glass products was estimated to be QR 711m (USD195m) in 2015, as flat glass and its products ...

 Feb 20 2017 - Etihad Rail achieves a new milestone with transporting 10 million tonnes of sulphurMENAFN Press
(MENAFN Editorial) Abu Dhabi, UAE, 18 February 2017: Etihad Rail, the developer and operator of the UAE's multi-billion dollar fully integrated national railway network, has since commencing Stage ...

 Feb 20 2017 - 2016 Legatum Prosperity Index: UAE jumped from 34th position in 2015, to 28th position in 2016MENAFN Press
(MENAFN Editorial) Dubai well positioned for hair transplants with availability of reliable experts and advanced proven techniques Dubai aims to rank among the world's top 20 healthcare ...

 Feb 20 2017 - 10th edition of Saluki Championships to kick-off with 10 qualifying rounds in Amateurs categoryMENAFN Press
(MENAFN Editorial) Top three fastest qualifiers in each round to advance to the final round DUBAI, 18th February 2017: The 10th edition of the Saluki Championship organized by the Hamdan Bin ...

 Feb 20 2017 - Rising Star Svitolina Sets Sights on Dubai Duty Free Tennis Championships TitleMENAFN Press
(MENAFN Editorial) February 18, 2017 DUBAI, UAE: Elina Svitolina is thrilled to be back at the Dubai Duty Free Tennis Championships and will go into her matches full of confidence after a ...

 Feb 20 2017 - AkzoNobel calls bright young minds in MENA to join the Imagine Chemistry' challengeMENAFN Press
(MENAFN Editorial) Dubai, UAE, February 18, 2017: AkzoNobel, the world leader in performance coatings technology and innovation, is calling bright young minds working in the field of chemistry to ...

 Feb 20 2017 - ICS Financial Systems Named a Leader in World Finance 100MENAFN Press
(MENAFN Editorial) Dubai, UAE, February 18, 2017: London, UK: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that ...

 Feb 20 2017 - Panache International introduces exclusive Smart Lid for hot beveragesMENAFN Press
(MENAFN Editorial) Dubai, United Arab Emirates, February 18, 2017: Panache International, a pioneer in the disposables sector with a history of quality disposables manufacturing and excellent ...

 Feb 20 2017 - Give Back with Virgin Megastore and Emirates Red CrescentMENAFN Press
(MENAFN Editorial) The Buy One, Give One Initiative Dubai, UAE, February 18, 2017: In partnership with Emirates Red Crescent, Virgin Megastore is pleased to announce the forthcoming launch of ...

 Feb 20 2017 - Landmark Group Associates with WGS 2017 as Exclusive Retail PartnerMENAFN Press
(MENAFN Editorial) Dubai-UAE: February 18, 2017 Landmark Group, the region's leading retail and hospitality conglomerate, collaborated with the fifth edition of the World Government Summit (WGS ...

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

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