Jet now eyes world’s top five slot

Mumbai: India alone is small cheese for Jet Airways. It now wants to become one of the top five international airlines in the next five years. By then Jet hopes to have total revenues of $3.5 to $4 billion (Rs 14,350 crore to Rs 16,100 crore), with half its operations being overseas.
To achieve this Jet is in the process of acquiring 20 wide-bodied aircraft from Boeing and Airbus. While two have already arrived, the rest will be inducted soon. To fund this aircraft acquisition, Jet would be raising $400 million through a rights issue and the money will be raised in less than four months of getting board approval.
It has also made Brussels its European hub and will provide seamless connectivity to several European countries as well as from five Indian cities to different locations in the US and Canada. The prime minister of Belgium who is keen on developing the Brussels airport at par with other European hubs has pledged his support in providing Jet Airways the necessary assistance to achieve its dreams.
The Belgium government have offered Jet Airways to run a flying and engineer’s training academy in association with a local partner to create trained manpower for Jet’s own requirement as well as for other international carriers.
Apart from expanding its network in the US and Europe, Jet will aggressively set up base in Shanghai, Hong Kong and South Africa. By next year it will fly to the Gulf.
13/05/07 Lalatendu Mishra & Indulal PM/Hindustan Times

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Categories: Foreign May 2007, Jet Airways May 2007