Jet sees new planes boost overseas ops in '07
Jet's international operations would surge in 2007 once the delivery of wide-body planes start and the Sahara acquisition is completed.india Updated: May 03, 2006 18:23 IST
India's largest private carrier, Jet Airways Ltd, said on Wednesday that international operations would surge in 2007 once the delivery of wide-body planes start and the Air Sahara acquisition is completed.
Jet is acquiring 20 long-haul planes for its overseas routes, for which deliveries start in early 2007 and end in 2009. Jet has ordered 10 A330-200 planes from Airbus, and another 10 777-300 ER planes from Boeing Co.
Jet's acquisition of rival private carrier Air Sahara for $500 million is pending regulatory approval.
Contribution from overseas routes would surge from 2007 and eventually reach the targeted 50 percent of the total business in 2008/09, Wolfgang Prock-Schauer, Jet's chief executive said.
"By then you will have more or less two equal pillars, domestic and international, in terms of revenue," he said.
For the fiscal year 2005/06 international operations contributed more than 10 percent of its business, Prock-Schauer said.
Jet Airways shares, which closed up 0.2 per cent at Rs 940 on Wednesday, has fallen nearly 18 per cent since January 2006. In the same period the benchmark BSE index has gained more than 30 per cent.