Monday, June 3, 2013

NEWS | Jet to focus on International routes as domestic market slows

Jet AirwaysBSE -2.99 %, India's second largest carrier by market share, has said it will focus on expanding its more lucrative international operations rather than cater to a slowing domestic market.

The airline, which is selling a 24% stake to Gulf carrier Etihad, will increase capacity on overseas routes by 10-12% and develop a hub for flying more travellers towards the east of India, its management said in a conference call with analysts on May 27.
"The Indian passenger over the next three years will have the choice to fly anywhere in the world, either from the European Union or Abu Dhabi," Raj Sivakumar, Jet's senior vice-president for planning and alliances, said. "We are also looking at leasing narrow-body fleet to expand our eastern connections and develop an eastern hub, but this is not in such an advanced stage as the western strategy." The airline, controlled by businessman Naresh Goyal, had on Friday said fourth quarter losses widened to 495 crore, as increased fares could not offset the carrier's rising operation costs. 

SOURCE:http://economictimes.indiatimes.com/news/news-by-industry/transportation/airlines-/-aviation/jet-to-focus-on-international-routes-as-domestic-market-slows/articleshow/20301361.cms

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