Jet Airways shelves expasion plans due to US recession

India's largest and first private carrier to fly to the U.S, Jet Airways, sees passenger travel slowing down due to recession fears there.
The land of opportunities seems to have disappointed Naresh Goyal the Chairman of Jet Airways. Jet Airways flies to three destinations In North America. JFK, Newark in New York, Toronto Pearson International Airport in Canada and Jet plans to fly to San Francisco, USA.
But with North America making up for 29 percent of its international passenger base, it wants to wait and watch before expanding any further.
Jet claims that, its low operating costs vis-à-vis American carriers, leaves it in a better position to counter the slowdown in passenger travel in America. It also claims, this rough pocket won't delay its flight to break even in the next 18 months.
19/04/08 Kenan Machado and Pooja Meswani/CNBC-TV18/Moneycontrol.com

To Read the News in full at Source, Click the Headline

Categories: Foreign Apr 2008, Jet Airways Apr 2008