New Delhi: Jet Airways Ltd reversed losses of over 12 per cent in late afternoon trade on Monday, after India's premier international airline entered into codeshare agreements with premium European carriers Air France and KLM.
Jet Airways plunged over 12 per cent in morning trade, after India's foreign investment regulator, FIPB, deferred a decision on Etihad Airways' planned 24 per cent stake buy in the airline.
However, the stock got some support after Jet Airways announced codeshare agreement which enables Air France to place its marketing code (AF) on Jet Airways' domestic flights to three major cities beyond Bengaluru, Delhi and Mumbai.
"Likewise, KLM will place its marketing code (KL) on Jet Airways' domestic flights to four major cities in India beyond Delhi, allowing guests travelling from Europe to India to connect seamlessly to Bengaluru, Chennai, Hyderabad and Mumbai via Delhi," added the report.
Jet Airways ended 1.5 per cent higher at Rs 476.50. It had hit a low of Rs 411.60 and a high of Rs 489.00 in trade today.
The stock came under pressure after the government on Friday deferred clearance of the Middle-Eastern carrier Etihad's proposal saying it needs clarity on the ownership structure and the level of control to be exercised by the UAE giant.
17/06/13 Economic Times
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Jet Airways plunged over 12 per cent in morning trade, after India's foreign investment regulator, FIPB, deferred a decision on Etihad Airways' planned 24 per cent stake buy in the airline.
However, the stock got some support after Jet Airways announced codeshare agreement which enables Air France to place its marketing code (AF) on Jet Airways' domestic flights to three major cities beyond Bengaluru, Delhi and Mumbai.
"Likewise, KLM will place its marketing code (KL) on Jet Airways' domestic flights to four major cities in India beyond Delhi, allowing guests travelling from Europe to India to connect seamlessly to Bengaluru, Chennai, Hyderabad and Mumbai via Delhi," added the report.
Jet Airways ended 1.5 per cent higher at Rs 476.50. It had hit a low of Rs 411.60 and a high of Rs 489.00 in trade today.
The stock came under pressure after the government on Friday deferred clearance of the Middle-Eastern carrier Etihad's proposal saying it needs clarity on the ownership structure and the level of control to be exercised by the UAE giant.
17/06/13 Economic Times
