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Jet eyes $3 bn revenues in 3 years
 
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October 30, 2007 13:11 IST

India's largest private carrier Jet Airways [Get Quote] said on Tuesday it expects to more than double its revenues to $3 billion in the next three years.

"We expect our revenues to go up from the current $1.4 billion to $3 billion in the next three years", Jet Airways Chairman Naresh Goyal told reporters in New Delhi on the sidelines of Fortune Global Forum.

He said in the next three years, domestic and overseas operations would be contributing equally to the topline of the carrier.

Every year, the company expects about 15 per cent growth in its domestic revenues, he added.

The company on Monday announced its total income rose over 26 per cent to Rs 2,254.17 crore (Rs 22.54 billion) in the second quarter this fiscal from Rs 1,787.33 crore (Rs 17.87 billion) during the same period last fiscal.

With the bilateral agreement between India and Belgium being reviewed, it would increase Jet's flight frequencies to Brussels. The company had earlier announced to establish the Belgian capital as its European hub.

"Currently, under the existing agreement, we fly from Mumbai, Delhi and Chennai only with 28 flights in a week to Brussels. Once the treaty is reviewed, it would double the number of flights to 56."

Goyal said after the review, Jet would be able to fly from places like Hyderabad, Kolkata, Bangalore, Ahmedabad and Amritsar.

"Once this (review of treaty) is through, it would better our revenues and increase our profitability."

Currently, Jet has several alliances with foreign airlines which connect its passengers to more than 50 international destinations, he said.

Commenting on fleet expansion, he said the airline would shortly induct six aircraft.

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