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Jet Airways GALLERY.
A Jet Airways passenger plane moves along the tarmac at the Sardar Vallabhbhai Patel international airport in the western Indian city of Ahmedabad, April 24, 2013. Fast-growing Etihad Airways is taking almost a quarter stake in India's Jet Airways , giving it a bigger foothold in the fast-growing Indian market. The $379 million investment is the first by an overseas operator in an Indian airline since ownership rules were relaxed and provides India's largest carrier with a deep-pocketed global partner as well as cash to retire debt. A Jet Airways passenger plane moves
James Hogan(L), Etihad's chief executive, speaks as International Airlines Group (IAG) CEO Willie Walsh looks on during the Global Summit meeting at Etihad towers in Abu Dhabi, April 10, 2013. Etihad Airways' purchase of a stake in India's Jet Airways could be delayed until at least August as the Abu Dhabi carrier seeks assurances following setbacks for several Gulf investors in India, two sources familiar with the talks said. James Hogan(L), Etihad's chief exec
Shares in Jet Airways India fell nearly 3 percent and SpiceJet shares dropped 3.4 percent after India's Foreign Investment Promotion Board (FIPB) approves AirAsia's proposal to set up a joint venture in India, raising concerns about increased competition. [caption id=attachment_675742 align=alignleft width=380 Shares in Jet Airways India fell ne
strongNew Delhi/strong: Jet Airways Chairman Naresh Goyal today met Civil Aviation Secretary K N Shrivastava apparently to clear the air on proposed deal with Etihad Airways amid reports that his plans to offload a minority stake to the Abu Dhabi-based carrier is on the verge of collapse. Goyal during his meeting is understood to have informed the top official that the proposed deal is very much on track and the airline will approach the ministry with a proposal in this regard as soon as the negotiations are concluded, sources said. Goyal is also understood to have told Shrivastava that the carrier is in the process of finalising some new routes and will accordingly seek the governments nod to operate on those routes. [caption id=attachment_669232 align=alignleft width=380 strongNew Delhi/strong: Jet Airways
strongMumbai:/strong Jet Airways, which is in the process of finalising a stake sale deal with Etihad Airways, plans to extend its code share agreement with the Abu Dhabi-based carrier to the Mumbai-Brussels-Newark route, sources said. Besides, the Naresh Goyal-owned carrier will also dry lease three of its Boeing 777s to the Turkish Airlines, they said. We are in the process of extending our code share agreement with Etihad to the Mumbai-Brussels-Newark route, a top ranking Jet Airways executive told PTI here. [caption id=attachment_658271 align=alignleft width=380 strongMumbai:/strong Jet Airways, w
strongMumbai:/strong Shares of Jet Airways India today surged about 10 percent, adding Rs 432 crore to its market capitalisation, amid reports Abu Dhabi's Etihad Airways may buy some stake in the Indian carrier directly from promoters. Following the speculation, shares of the company rallied over 13 percent in intra-day trade but pared some gains to settle at Rs 554.10, up 9.93 per cent on the BSE.[caption id=attachment_653682 align=alignleft width=380 strongMumbai:/strong Shares of Jet
This combination image shows two file pictures, one taken on March 3, 2012, showing an Indian flight technician cleaning the front windows of a Jet Airways Boeing aircraft during The India Aviation 2010 show at Begumpet Airport in Hyderabad, and one taken on November 3, 2003, showing Emirati officials posing in front of the new carrier 'Etihad' or 'Unity' which was on show in Abu Dhabi in the UAE. Shares of India's Jet Airways surged almost 20 percent on February 27, 2013, after Abu Dhabi-based Etihad paid USD 70 million to the Indian carrier for London landing slots. The move by Ethihad fuelled investor hopes that the Gulf carrier could be close to a long-anticipated deal to purchase a stake in the Indian airline. This combination image shows two fi
strongMumbai:/strong Shares of Jet Airways today tanked more than 3 percent amid investor concerns whether its stake-sale deal with Abu-Dhabi based carrier Etihad would materialise. [caption id=attachment_638263 align=alignleft width=380 strongMumbai:/strong Shares of Jet
Shares in Jet Airways were down 4.6 percent at 10.49 am after earlier falling as much as 5.5 percent on continued concerns about whether the carrier will clinch a stake sale to Abu Dhabi-based carrier Etihad Airways. [caption id=attachment_635446 align=alignleft width=380 Shares in Jet Airways were down 4.6
In yet another hitch to the Jet Airways' equity sale to Etihad, the Abu-Dhabi-based airline has expressed reservations about the deal going through without a government assurance on protection of its foray into India. According to a emCNBC-TV18/em report, Etihad has expressed concerns to the government regarding the safety of its investments. Etihad fears that its investment may meet a fate similar to Etisalat, the UAE-based telecom company which lost over Rs 3,000 crore in the 2G fiasco . [caption id=attachment_630653 align=alignleft width=380 In yet another hitch to the Jet Air
strongAbu Dhabi:/strong Etihad and Jet Airways are keen on building a partnership, Commerce and Industry Minister Anand Sharma said today, amid reports of the UAE-based carrier seeking to revise a proposed deal with the Indian carrier. Etihad and Jet have been in talks for quite some time now for a possible deal involving a stake purchase in the Indian carrier, but the Chairman of Abu Dhabi-based carrier yesterday said that the deal is being revised and might take some time to consummate. [caption id=attachment_630022 align=alignleft width=380 strongAbu Dhabi:/strong Etihad and
Shares in Jet Airways India fell as much as 6.8 percent on Monday after Etihad Airways chairman said the Abu Dhabi-based carrier needs to revise its deal to buy a stake in the Indian carrier. [caption id=attachment_629075 align=alignleft width=380 Shares in Jet Airways India fell as
strongNew Delhi:/strong The impending equity partnership between Jet Airways and Etihad could sound the death knell for Air India. Not only will the new Jet-Etihad combine be a bigger entity capable of giving fierce competition to Air India (AI) on international routes, AI's own problems like the largest debt pile, lack of a fleet growth strategy and absence of a domestic low-cost arm would hurt the national carrier on the domestic front too. To top it all, the changing world aviation order where the Gulf airlines (Emiartes, Etihad and Qatar) are enhancing their presence through global alliances is already posing a grave threat to AI's survival. If amid all this, the government agrees to review bilateral traffic rights with the Gulf nations (especially with the UAE), AI's future could well become uncertain. AI has already panicked, with Chairman and MD Rohit Nandan seeking protection against the might of the Jet-Etihad deal from the Ministry of Civil Aviation early this year. But panic alone wouldn't help AI and the ministry appears, as of now, disinclined to mentor an airline in which the government holds the entire equity. It is a sorry state for any airline to be in, more so since AI has already been promised Rs 30,000 crore bailout package subject to it meeting equity parameters. So either the government should help the carrier to fight competitors who are far better armed with fleet, connections and a massive funds infusion, or it should allow AI to find a strategic partner and slowly exit the business of aviation. As of now, Etihad Airways is expected to pick up 24 percent stake in Jet, becoming the first global airline to acquire any equity stake in an Indian carrier after the norms for foreign direct investment (FDI) were liberalised. According to an exhaustive report by aviation consultancy Centre for Asia Pacific Aviation (CAPA), the Jet-Etihad deal would be a killer for AI on international operations as well as domestic routes. The absence of a long-term fleet strategy, with no pending narrow body orders and no longhaul aircraft commitments beyond 2015 limits the future business case (for Air India), CAPA said today. The combined Jet-Etihad might will have a fleet of 180 aircraft when AI's operational aircraft are only 100 in a fleet of 127 aircraft. In fleet size alone, Jet-Etihad will tower over AI. [caption id=attachment_625635 align=alignleft width=380 strongNew Delhi:/strong The impendi
Dinesh Keskar, Boeing's vice-president for sales in Asia Pacific and India, poses with a model of 787 Dreamliner during Dinesh Keskar, Boeing's vice-presid
The stake-sale deal between Jet Airways and the Abu Dhabi-based Etihad Airways will infuse a new lease of life into the troubled Indian aviation industry, the Associated Chambers of Commerce and Industry (Assocham) said in a statement on Sunday. The induction of capital by Etihad, one of the most efficient airlines of the world will not only improve the financial position of Jet Airways but also bring several operational benefits, said the statement. [caption id=attachment_611820 align=alignleft width=380 The stake-sale deal between Jet Air
In this photograph taken on June 10, 2008, India's Jet airways chairman Naresh Goyal (L) and Etihad Airways CEO James Hogan (R) pose at a joint press conference in Mumbai. India's biggest private airline Jet Airways, which is in final talks for a stake sale to Abu Dhabi-based Etihad Airways, on February 1, 2013 swung into a quarterly net profit from a net loss a year ago. Etihad is likely to pick up a stake in Jet, which would be the first in India's aviation sector, after the government in September said it allowed overseas airlines to take up to a 49 percent stake in domestic operators. In this photograph taken on June 10
James Hogan (L), chief executive of Abu Dhabi's Etihad Airways, Ahmad Ali-al-Sayegh (2nd L), a board member of Etihad Airways, India's Civil Aviation Minister Ajit Singh (C) and Naresh Goyal (R), Chairman of Jet Airways, pose after their meeting in New Delhi January 31, 2013. India's second biggest carrier Jet Airways expects to finalise a stake sale deal with Abu Dhabi's Etihad Airways in a week or so, an executive at the airline, who declined to be named, said on Thursday. Singh said earlier on Thursday, after meeting the top executives of the two airlines, that Etihad was in talks with Jet for a potential investment in the carrier. James Hogan (L), chief executive of
Abu Dhabi's Etihad Airways is in talks with Jet Airways for a potential investment, civil aviation minister Ajit Singh said today, without giving any details of the possible deal. The government's role is to make sure that whatever agreement they come to is within the regulatory framework, he said after a meeting with Jet Chairman Naresh Goyal and Etihad Chief Executive James Hogan. Singh reiterated that Jet will continue to be treated as a domestic airline and Etihad, as a foreign carrier. He said Etihad's flights into India and seats it offers now will continue to be governed by the ASA between the two countries. To a question on whether Etihad would want to increase flights to Abu Dhabi from Indian cities and if the Government will relook at the ASA, Singh said UAE doesn't only comprise Abu Dhabi .....we will then have to increase entitlements to Emirates too. Singh declined to divulge details of the meeting, a first in which senior officials of both airlines were present, saying we spoke of the weather in India and in Abu Dhabi . [caption id=attachment_608587 align=alignleft width=380 Abu Dhabi's Etihad Airways is in ta
India's Trade Minister Anand Sharma shakes hands with Ahmed Ali-al-Sayegh, a board member of Abu Dhabi's Etihad Airways, as Jet Airways Chairman Naresh Goyal (L-R) looks on, before their meeting in New Delhi January 31, 2013. Etihad Airways will soon apply to India's foreign investment approval authority for an investment in Jet Airways Ltd., said a source at India's trade ministry on Thursday. India's Trade Minister Anand Sharma
Naresh Goyal-led Jet Airways will soon have Abu Dhabi as its new international hub after senior executives both from the Indian aviation firm and Etihad Airways finalise contours of the deal. The Etihad management has reportedly agreed upon valuation and equity structure for sale, emCNBC-TV18/em's Kritika Saxena reported in an exclusive story.[caption id=attachment_602556 align=alignleft width=380 Naresh Goyal-led Jet Airways will s
Wolfgang Prock-Schauer, CEO of India's private airliner Jet Airways addresses a news conference in Mumbai in this September 4, 2006 file photo. Air Berlin's chief executive Hartmut Mehdorn stepped down on January 7, 2013, handing over the task of bringing Germany's second largest airline back into profit to strategy chief Prock-Schauer. Wolfgang Prock-Schauer, CEO of Indi
strongNew Delhi/strong: Tough competition from full service carriers, specially Jet Airways, and fliers' preference for a meal on a five-and-a-half hour flight are two of the main reasons why IndiGo Airlines was compelled to withdraw its daily services to Singapore from Mumbai and Delhi. The airline will now fly to Singapore from Chennai and Hyderabad instead. IndiGo was the only low-cost carrier to launch a five-and-a-half-hour medium haul international flight on the Singapore route. The other direct flights are from full service carriers Air India, Jet Airways and Singapore Airlines. One-stop flights are being offered by Thai Airways (via Bangkok), Sri Lankan (via Colombo) and Malaysian Airlines via Kuala Lumpur. A top official of a prominent travel website told emFirstpost/em that IndiGo kept its cards so close to its chest that even we were informed about the withdrawal of the Singapore service from Delhi and Mumbai only yesterday. On such medium haul flights consumers did not seem to mind paying Rs 5,000-6,000 extra but get meals and a comfortable journey. The flights will be withdrawn from the next fiscal, according to industry sources. [caption id=attachment_577644 align=alignleft width=380 strongNew Delhi/strong: Tough compe
strongMumbai:/strong Shares of Jet Airways today rose by as much as 7 percent amid growing expectations of a possible deal between the airline and United Arab Emirates' Etihad Airways for stake sale. After a positive opening, shares of the company further gained 6.74 percent to Rs 618.70 on the BSE. At NSE, the stock shot up by 6.17 percent to Rs 615.65. According to reports, Jet may strike a deal with Etihad, although there have been no official word on the same. [caption id=attachment_577089 align=alignleft width=380 strongMumbai:/strong Shares of Jet
Jet Airways is the front-runner for an investment by Gulf carrier Etihad Airways, a senior government source told reporters on Wednesday, adding a deal was likely in 10 days. [caption id=attachment_576289 align=alignleft width=380 Jet Airways is the front-runner for
strongMumbai:/strong Shares of Jet Airways rose as much as 4.7 percent on Monday to a near two-year high, and were headed for a fifth straight session of gains, on growing expectations that Abu Dhabi's Etihad Airways will buy a stake in the carrier. [caption id=attachment_559937 align=alignleft width=380 strongMumbai:/strong Shares of Jet
strongNew Delhi:/strong If all goes well, Jet Airways' promoter Naresh Goyal will announce an equity deal with Etihad airways before the year ends. According to sources, Goyal is planning to offload 24% stake in favour of Etihad at Rs 1600 crore. If the deal goes through at this price, it would mean Jet Airways has been valued at over Rs 6600 crore. As per Sebi guidelines, Etihad will have to make an open offer to the public shareholders of Jet for another 26%. This means the cap in foreign airline investment would be reached through this transaction since India has only recently allowed up to 49% equity investment by foreign airlines in Indian carriers. Sources confirmed this deal, saying it will be completed only when Jet Airways takes necessary permissions from the Home Ministry and the Foreign Investment Promotion Board. a href=http://www.firstpost.com/investing/jet-may-tweak-ownership-pattern-to-facilitate-etihad-deal-543001.htmlAs emFirstpost/em has pointed out earlier/a, this deal would require Goyal to first transfer shareholding in Tail Winds, which is registered in Isle of Mann, to himself. It may also need him to issue fresh equity. To validate any deal with Etihad, Goyal will have to first remove this anomaly of a promoter of an Indian airline owning shares through a firm registered outside India. Goyal himself is an NRI. [caption id=attachment_543754 align=alignleft width=380 strongNew Delhi:/strong If all goes
Shares in Jet Airways rose over 7 percent after emMint/em reported the airline will soon seek regulatory approval to tweak its ownership pattern to facilitate a stake sale to Etihad Airways. Promoter Naresh Goyal holds an overwhelming 80 percent equity in the airline through a company called Tail Winds, which is registered in tax-haven Isle of Man. In effect, Jet is already 80 percent owned through a vehicle abroad. a href=http://m.firstpost.com/business/jet-etihad-tiecould-be-valued-at-nearly-$440-mn-536320.html emFirstpost/em had earlier reported/athat for the deal with Etihad to materialise, promoter Naresh Goyal will have to issue fresh equity and dilute his stake in Tail Winds so that the money benefits the airline not Goyal. [caption id=attachment_543055 align=alignleft width=380 Shares in Jet Airways rose over 7 p
The fall of Kingfisher Airlines has benefitted Jet Airways. Kingfisher, which was once India's leading airlines in terms of market share, has shut down operations due to lack of funds while Jet Airways is going strong on domestic and international sectors. Jet Airways share price has doubled over the last one year while Kingfisher Airlines' share price has halved in the same period. Investors who had bought Jet Airways when Kingfisher was looking to go down in 2011 have reaped handsome gains. Table 1 shows Kingfisher's fall and Jet's rise. strongTable 1: Market share and share price of Kingfisher and Jet/strong [caption id=attachment_537279 align=alignleft width=600 The fall of Kingfisher Airlines has
People walk past the Etihad Airways headquarters in Abu Dhabi November 27, 2012. Loss-making carriers Jet Airways and SpiceJet are in talks with Abu Dhabi's Etihad Airways and Malaysia's AirAsia Bhd, respectively, to sell minority stakes, a government source said. Any deal would be the first since India changed its rules in September 2012 to allow foreign carriers to buy stakes of up to 49 percent in local airlines, which have been battered by fierce competition and high operating costs. People walk past the Etihad Airways
The Jet Airways-Etihad deal, which may be announced before the year is out, would be interesting in more ways than one. Not only is Jet promoter Naresh Goyal expected to get technical knowhow and lucrative route partnerships along with equity infusion via this deal, sector experts and people with direct knowledge of the matter told emFirstpost/em this deal may obviate the need for a tie-up that Jet has been trying to forge with Lufthansa AG. Some months back, Jet and Lufthansa had entered into an alliance which enabled them to sell tickets across each other's networks and Jet had begun coordinating flights with the German flag carrier for Europe and other international sectors. Subsequently, it even got permission of the civil aviation ministry for several flights into Germany, specifically Munich. The alliance between Jet and Lufthansa was being seen as a step towards eventually the Indian carrier joining Star Alliance.[caption id=attachment_536332 align=alignleft width=380 The Jet Airways-Etihad deal, which