Jet Airways Expects U.S. Route to Be Profitable in First Year

Jet Airways (India) Ltd. expects to earn profits on its U.S. flights in the first year of operations, as travel demand between the two countries increases.
Jet Airways is filling more than 70 percent of seats since it became the first private carrier from India to fly to the U.S. in August, Naresh Goyal, the airline's chairman, said in an interview from New York. Jet Airways, which now flies to Newark from Mumbai, plans to start flights from New Delhi to New York's John F. Kennedy airport later this month, he said.
Economic expansion in India, the world's second-fastest growing major economy, has attracted investments from General Motors Corp., McDonald's Corp. and other U.S. companies, spurring business travel. Travel demand from the 2.5 million Indian software professionals, students and families in the U.S. is also growing.
India and the U.S. in April 2005 signed an air services agreement scrapping most travel restrictions between the two countries and allowing Continental Airlines Inc., Air India Ltd. and other carriers to increase flights.
17/10/07 Catherine Yang and Anand Krishnamoorthy/Bloomberg

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Categories: Foreign Oct 2007, Jet Airways Oct 2007