The airline's pricing strategy and capacity show it is targeting leisure travellers and corporate clients, rather than blue-collar workers migrating to Abu Dhabi.
On a day when service tax department detained another Kingfisher plane for default, the second in two days, the airline announced it was in discussions with Abu Dhabi-based Etihad Airways for a stake sale which could revive the troubled airline's fortune.
Etihad airways plans connectivity from 8 major cities in India and expand its services in the country, especially in South India.
Will be the first choice if Naresh Goyal decides to sell stake in future.
The Etihad delegation was led by its CEO James Hogan at the meeting, which was also attended by Jet Airways promoter Naresh Goyal.
The airline has already decided to lease out an A330 to Etihad and plans to lease out two more this year.
Regulator believes Jet Airways deal triggers open offer
Etihad's acquisition of 24 per cent stake in Jet Airways was the first FDI in an Indian carrier by a foreign airline.
Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
Etihad to have 2 directors even if it dilutes stake to 15%
The Foreign Investment Promotion Board (FIPB) on Friday deferred a decision on Rs 2,000-crore (Rs 20 billion) Jet-Etihad deal, the largest foreign investment in the Indian aviation sector, and sought clarity on control and ownership.
Current FDI norms allow a foreign airline to hold up to 49 per cent in a domestic carrier.
Coordination between defence and civilian authorities has freed up airspace for commercial airlines in India, resulting in routes becoming shorter and costs coming down, apart from mitigating pollution. "Due to various restrictions of the military, only about 58 per cent of the Indian airspace was being utilised. It is close to 70 per cent now," said an official of the Airports Authority of India (AAI). Officials of the AAI said to date 119 routes had been shortened. Sources said since December 2020 the cumulative savings of airlines had been close to Rs 200 crore while there was a reduction in emission of around 45,000 tonnes of carbon.
Has also sought permission to share with Virgin Atlantic for new routes in Britain.
With air traffic between India and the UAE on the rise, the Gulf state's national carrier Etihad Airways is on the move to start services to Indian cities of Bangalore, Chennai and Hyderabad.
Jet Airways, which is in the process of finalising a stake sale deal with Etihad Airways, plans to extend its code share agreement with the Abu Dhabi-based carrier to the Mumbai-Brussels-Newark route, sources said.
Jet and Etihad stand to benefit from cost savings and synergies in areas such as fleet acquisition, maintenance and training.
The 72-hour introductory joint special fare offer will be available from July 25 to July 27 for a travel period between September 1 and June 15, 2015 for flights within India and between September 1 and November 30 this year for flights to international destinations, the statements said.
All India Jet Airways' Officers and Staff Association on Thursday said it has filed an appeal before the NCLAT against Jalan-Kalrock consortium's resolution plan for the airline. In October 2020, the airline's Committee of Creditors (CoC) approved the resolution plan submitted by the consortium of the UK's Kalrock Capital and the UAE-based entrepreneur Murari Lal Jalan. The plan was later cleared by the Mumbai bench of the National Company Law Tribunal (NCLT).
Abu Dhabi-based Etihad Airways is looking to expand its operations in India as the airline continues on its growth plan aiming to reach 100 destinations by 2020 from its current 65, the company's chief executive has said.
Sources said Abu Dhabi-based Etihad would pick up 24 per cent stake.
Al-Nahayan wants govt assurance on protection of its foray, meets Anand Sharma.
Jet Aiways had almost signed the deal with Etihad when the new leaked and the stock price of the former shot up, causing the Abu Dhabi carrier to reconsider.
The move comes amid expectations that the government would allow foreign airlines to invest directly in Indian carriers.
Former Air India Executive Director Jitendra Bhargava had filed the appeal questioning the decision of CCI to approve the Jet-Etihad deal without carrying out a detailed assessment.
Kingfisher is in discussion with various investors, including Etihad, for equity investments in the company, but matters are merely at negotiation stages, it said in a statement to the stock exchange.
The two companies are hopeful of winning over at least one regulator's go-ahead this week itself for their deal, which happens to be the first FDI by a foreign airline into India.
Air India (AI)'s rise could be at the expense of three "super-connector" hubs - Doha in Qatar, and Dubai and Abu Dhabi in the UAE - as the Indian passenger would any day prefer direct flights of their national airline that is providing excellent on-time service, Arved von zur Muehlen, chief commercial officer of Saudia Airlines, said on Thursday.
The stake-purchase agreement with Jet, second largest domestic passenger market share, will make Etihad the first foreign carrier to buy into an Indian airline.
Jet's flights to Abu Dhabi could be used to carry passengers from India headed for the US and Europe.
India, UAE yet to conclude bilateral investment promotion and protection agreement.
So should airlines play the keening, trance-like Siddi folk music from the Kutch peninsula? The Sufiana Kalam of Kashmir? Carnatic music? Rabindra Sangeet? Bihu melodies? Classical music from the Hindustani gharanas? Ghazals? Bhajans? Bollywood hits?... asks Kanika Datta.
The long-range planes will be delivered from early 2014.
Airline now financially more stable but still in the doldrums as the operating environment remains tough.
The agreement between the two has a long stop date clause, stipulating that all approvals be secured by then.
The Indian government had given permission for the airlines to operate flights from these destinations, its CEO James Hogan told a press conference in Chennai on Thursday. Once connected to Kolkata and Jaipur, Etihad would have doubled its Indian destinations to eight, ever since it commenced services to Thiruvananthapuram and Kochi last year, before adding New Delhi and the commercial capital of Mumbai.
Etihad Airways, the national airline of the United Arab Emirates, has launched its daily services to Mumbai and plans to start thrice-a-week flights from Abu Dhabi to Delhi from December.
Sheikh Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet Indian Trade Minister Anand Sharma to discuss the deal.
The airline notification to an exchange does not name the shareholder. It said the fund-raising would be subject to regulatory and corporate approvals.
Five decades ago, 87 plane crashes took away the lives of 1,597 people.
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