Monday, May 30, 2016

Jet Airways to take back 6 Boeing planes from Etihad for use in its core market

New Delhi: Private carrier Jet Airways BSE -0.77 % will take back all six wide-body Boeing aircraft leased out to its investment partner Etihad Airways in the next six months and deploy them on some of its core routes including to the Gulf.
The six B777-300 ER aircraft are expected to be put into service from August and some of them are likely to be used in the domestic sector as well, Jet Airways Chief Financial Officer (CFO) and acting Chief Executive Amit Agarwal said during a post-earnings analysts' call recently.
"Our wide body (Boeing 777) aircraft currently on lease to partner airline Etihad will be taken back and operationalised from August. Based on the market condition, our plan is to upgrade some of the existing A330 routes with B-777," Agarwal said.
"We will be careful and cautiously deploy these aircraft in the domestic market," he said.

These ultra long-haul operation planes had been wet-leased to Etihad, which holds 24 per cent stake in the Naresh Goyal-owned private airline.
29/05/16 PTI/Economic Times
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