After Sahara, Goyal says Jet is open to buying another airline

Mumbai: Naresh Goyal, who promoted and chairs the country’s largest domestic airline, said he is open to buying out smaller domestic carriers that might be on offer to expand his airline empire.
The group is also working on setting up a separate company for its impending cargo business in the next six months.
“The markets do not remain the same forever but still, anything that makes sense to Jet Airways’ shareholders will make sense for the promoters as well,” Goyal said.
Together with JetLite, formerly Air Sahara, which Jet bought last year, the airline controls over 29 per cent of the Indian domestic market.
Air Sahara was Goyal’s first airline acquisition.
Goyal's cargo business includes acquiring five to six aircraft and focusing on express cargo, which guarantees delivery time, which currently has no players.
The business is expected to account for 15 per cent of revenues from the current eight per cent in the next six to twelve months.
Apart from the new aircraft, Goyal said the airline will also use the aircraft it flies on the domestic routes for belly cargo.
Added Sudheer Ragavhan, the airline's chief commercial officer, “The airline is also in talks with the regional carriers to use small aircraft to pick up loose cargo. We are working out the logistics for seamlessly transferring that cargo to bigger aircraft.”
04/04/08 Manisha Singhal/Business Standard

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Categories: Jet Airways Apr 2008, New Apr 2008