The board of directors of Jet Airways has given its in-principle approval to acquire 26 per cent stake in MAS GMR Aerospace Engineering Company for an unspecified amount.
Growth in the domestic market in the second quarter was fuelled by low fares but this has impacted airline profits.
Even in ruin, Jet retained its one essential brand quality: Dignity, says brand guru Sandeep Goyal.
A day after withdrawal of low fares by some major airlines, Jet Airways and its low-cost subsidiary JetLite have introduced Rs 300 and Re 1 as basic fares respectively under 30-day advance purchase scheme.
Taking a step forward in its $500 million deal to snap up Air Sahara, Jet Airways on Thursday announced it had reached an understanding with the other airline to provide consultancy support to improve its performance in various fields.
The real mover and shaker behind the development that grounded India's largest airline remained mostly out of the public eye. That was 63-year-old NAG President Captain Girish Kaushik who was doing the heavy lifting in Delhi and Mumbai.
Even as Jet Airways's pilots and the management were hectically working out a settlement to end their stir on Friday, latest reports coming in say that pilots are not likely to return to work even on Saturday and the parleys would continue to break the deadlock that has severely disrupted flights affecting thousands of passengers.
A Jet Airways spokesperson also said their flights in and out of Mumbai would operate in accordance with their normal schedule. However, their Kingfisher Airlines counterpart said one flight each on Delhi-Mumbai, Bangalore-Mumbai, Hyderabad-Mumbai and Nashik-Mumbai sectors have been combined with other flights on the same routes.
The government on Tuesday told the Rajya Sabha that it has not received any formal proposal for merger of Sahara Airlines with Jet Airways, leading to protests by Left members who asked the minister to clarify on the matter.
Earlier, budget carrier SpiceJet said it would hire 500 from Jet, including 100 pilots. Air India Express has also inducted around 25 commanders from the grounded airline.
A day before the opening of its initial public offering, Jet Airways on Thursday said it will pay up to $7.5 million to acquire trademark and intellectual property rights from Naresh Goyal-promoted Jet Enterprises Private Ltd.
Etihad will be able to carve out a strong niche in the Indian market.
A Jet Airways customer service assistant told PTI that the suspension had been ordered in view of poor passenger booking.
The Bombay High Court on Monday adjourned for next Thursday, hearing on an arbitration petition filed by private carrier Jet Airways in connection with the collapsed deal to takeover rival Air Sahara.
India's private airliner Jet Airways will begin its five-day a week flight to Toronto from Delhi, via Brussels, from September 5, a company release said.
Indian Airlines and Jet Airways on Friday revised the advance purchase fares in most of the sectors from next month.
Jet Airways on Tuesday said it would file a petition before the Supreme Court seeking transfer of all cases, relating to its failed takeover deal of Air Sahara, pending before the Bombay High Court and the Lucknow district court.
With the London airport opening up after wide-spread flight disruptions caused by volcanic ash from Iceland, Air India and Jet Airways on Wednesday readied themselves to resume operation to the UK.
Private airlines Jet Airways and Kingfisher owe state-owned oil firms over Rs 1,774 crore (Rs 17.74 billion) in unpaid jet fuel bills, Minister of State for Petroleum and Natural Gas Jitin Prasada said on Thursday.
"Airlines in India like Jet Airways and Air India have firm orders with Boeing for delivery till the year 2011. Now they are planning beyond that in view of expected market growth," said Dinesh Keskar, senior vice-president (sales), Boeing Commercial Airplanes.
Why the recent strike could see the carrier go Air India's way.
The Bombay High Court on Monday asked Jet Airways and Sahara India Commercial Corporation Ltd (SICCL) to settle their dispute over the takeover of Sahara Airlines by July 2 or else it would pass an order.
There is fear amongst various lobbies with Jet Airways having taken over Air Sahara.
Though NCLT has extended window to find a buyer, bankers don't see much hope of a deal.
Central Bureau of Investigation on Tuesday said it had not registered any case against Jet Airways for alleged "shady" funding of the private domestic carrier neither did it intend to carry out a preliminary enquiry into the matter.
Sale of wide-body aircraft will not affect internatinal flights, says Jet
"The Chinese government has never allowed a third party to operate to the US out of China. This is for the first time that our government negotiated with them to do so. We hope to get the permission from China soon," Jet Airways Chairman Naresh Goyal told reporters. With the launch of San Francisco flight from May 5, Jet Airways would become the first private carrier to operate a non-stop daily flight to Shanghai from country's financial hub of Mumbai.
Jet Airways, the largest privately owned airline in India, is set to continue its global expansion with the commencement of direct flights from London to Mumbai on May 23
Jet-Sahara deal: HC asks govt for documents
Executives from India's leading airlines are conducting internal meetings to devise alternative routes for their international flights that currently pass through Pakistani airspace.
GoAir reluctant to respond to overtures.
Speaking to Business Standard, Jet Executive Director Saroj Datta said: "SpiceJet and JetLite are an absolute fit in so far as their business models are concerned."
Jet Airways, Kingfisher Airlines and state-owned NACIL owe public sector oil companies over Rs 2,241 crore (Rs 22.41 billion) as payment for jet fuel, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Tuesday.
The Bombay High Court would examine the Ernst & Young report on the erstwhile Sahara Airlines buyout by Jet Airways to decide the onus on payment of tax liability amounting to Rs 107 crore (Rs 1.07 billion).
Over 30 passengers have suffered ear and nose-bleed after the crew on Jet Airways flight 9W 697 reportedly forgot to select a switch that helps maintain cabin air pressure
Private sector airline Jet Airways will give its A340-300E aircraft on short-term wet lease to Air-India to operate a daily flight between Mumbai and London.
Jet Airways chairman Naresh Goyal said the strategic alliance forged almost a year ago between his company and Kingfisher Airlines has still not achieved tangible progress, and added that airfares need to rise by 20-25 per cent.
The Bombay High Court on Monday upheld its earlier order which had ruled that Jet Airways was liable to pay the renegotiated amount of Rs 1,450 crore (Rs 14.50 billion) instead of the original determined price of Rs 2,000 crore for the purchase of Sahara Airlines (now Jetlite) in 2007.
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