Jet Airways (India) Private Limited is India's leading private airline. It boasts a market share of about 45 percent.

Jet operates a relatively young fleet of Boeing 737 jets and ATR72 turboprops. It carries about seven million passengers a year. Its reputation for punctuality and outstanding service attracts a large proportion of business travelers. Jet's founder and chairman is Naresh Goyal, an Indian expatriate living in London. Company founder Naresh Goyal began his travel career in 1967 at the age of 18 as a general sales agent (GSA) for Lebanese International Airlines. In May 1974, he formed his own company, Jetair (Private) Limited, to market other foreign airlines in India. Jetair eventually grew to a network of 60 branch offices. After three and a half decades of monopoly by Air India and Indian Airlines, the Indian government reopened the domestic aviation market to private carriers in April 1989. Goyal set up Jet Airways (India) Private Limited in 1991. Initial investment was $20 million. Through an Isle of Man holding company, Tail Winds, company founder Naresh Goyal (then based in London) owned 60 percent of Jet Airways, with Gulf Air and Kuwait Airways dividing the remaining 40 percent. Jet Airways began domestic flight operations with four new-generation Boeing 737s on May 5, 1993. The first flights were from Mumbai (Bombay) to Delhi and Madras and ten other destinations. (Jet was not the first private airline in the skies; that distinction went to East West Airlines, which launched in February 1992.) Jet Airways aimed to carry seven million passengers by the end of 1993, and to take in first year revenue in excess of $75 million (INR 2.4 billion). The schedule was coordinated with that of Gulf Air to provide convenient connections. Gulf Air assisted the new airline with technical and marketing assistance. The Australian airline Ansett Worldwide also provided engineering expertise, and was the lessor for Jet's first four aircraft. Malaysia Airlines System (MAS) provided technical and flight training and performed maintenance services, while a unit of British Airways educated cabin staff in customer service. Three of Jet's Boeing 737s were leased from MAS. Jet entered a comprehensive marketing agreement with KLM in 1995. Eight private airlines plied the skies over India in the mid-1990s. Jet Airways was the second largest. Revenues for the 1994-95 fiscal year were estimated at INR 360 crore ($120 million), with profits of more than INR 18 crore ($6 million), crore being a traditional term meaning 10 million. Jet Airways claimed to be the only profitable privately owned airline in India. Indeed, by 1997, five of the seven that had been launched since 1992 were grounded. By another count, more than 20 start-up airlines had been launched in India since deregulation, reported Airline Business. Jet Airways was one of the very few survivors. Jet's revenues rose 32 percent to $300 million in 1997, with profits of $11 million. During the year, Jet bought out the shareholdings of Kuwait Airways and Gulf Air after the Indian government banned foreign ownership in India's airlines. This also scuttled MAS's proposal to acquire a 9 percent stake in Jet Airways. In 1997, Jet Airways was operating a fleet of one dozen Boeing 737s and was ordering ten more for $486 million. By this time, Jet was India's largest private carrier, and was flying to 20 destinations. Its market share was about 15 percent. Jet Airways Executive Director Saroj Datta (formerly of Air-India and Kuwait Airways) told Britain's Financial Times that the airline's choice of newer aircraft was a significant factor in its success. While they cost more to lease, they saved fuel and helped endear business travelers with their reliability. Datta added that Jet benefited from Goyal's background as a general sales agent; it had established interline agreements with 90 foreign carriers flying into India, accounting for 25 percent of revenues. While the Tat industrial group was unable to secure government approval to create a proposed carrier with Singapore Airlines, the domestic aviation market remained competitive. As demand contracted, rivals engaged in a spirited price war, particularly on the Mumbai (Bombay) to Delhi route. Nikos Kardassis, Jet's chief executive officer for five years, resigned in the summer of 1999. He was replaced by Executive Director Saroj Dutta, who had been with the airline since 1992.

2001 terrorist attacks on the United States.In 1999. 2003. 2004. In October 1999. and Jet reduced capacity on some routes and began assigning employees multiple roles and cutting capacity on various routes. it was now posting significant losses despite total revenue in 2003 of INR 2. Jet and other airlines were appealing to the government to reduce the tariffs on India's relatively expensive aviation fuel. and implemented a number of workforce productivity measures. was also in the works. took their toll on traffic for not just Jet Airways. Jet Airways was flying 155 flights a day to 30 destinations.41 crore ($550 million). also had worked for Meridiana. Indian Airlines Ltd." Economic Times." Business Standard. Jet Airways and rival private airlines in India were freed to begin flying outside the country on March 22. 20. "Airlines' Market Share of Domestic Passenger Traffic. Further Reading "Air Sahara. when its aviation market was undergoing liberalization.S. fuel costs were also up sharply. Air-India Limited.876. a former Star Alliance board member. "Indian Domestic Carrier to Add Two B737-400s to Fleet. Although the company had reportedly been profitable from its inception. The airline was introducing ultra-low "Super Apex" (advanced purchase excursion fares) tickets to lure passengers away from trains. as domestic carriers paid a $2 per gallon premium compared with foreign ones. Steve Forte. May 31. Designed by Ravi Bajaj. Principal Competitors Air Deccan. but most airlines. July 13. a small Italian domestic airline. Jet Airways' share of domestic passenger traffic rose to 48. The effects of the September 11. Air Sahara Limited. Jet hired its first chief operating officer. November 18. . was the first such international destination." India Business Insight. 2003. Anand. the airline launched a regional feeder network using leased 64-seat ATR 72 turboprop aircraft. or more than six million passengers. Colombo. in 2002. Prock-Schauer aimed for Jet to be posting a profit of $60 million by 2005. Business Today observed that interest costs had risen 50 percent during the year. Jet Airways got a new CEO in 2000. April 13. Almazan. The fleet was up to 25 aircraft. 1994. According to India Business Insight. carrier TWA. A charge card for frequent flyers had been launched withCitibank in August 2000. discussed since 1995. Jet also was increasing frequencies on key routes. a native of Italy. Jet Airways unveiled new uniforms for its 270 cockpit crew members and 660 cabin staff about the same time as the ATR rollout. formerly vice-president of marketing at the U. The air travel market in India was making up for lost time after being flat for a couple of years. An initial public offering of 25 percent of shares. 2004. Forte. later. and the airline employed 4. "Jet Kicks Off Job Rationalisation. the SARS health crisis. Flights to Bangladesh and Nepal followed soon after. Jet Record Losses in '02-03. Jet had borrowed about $800 million to finance new aircraft.Schauer. Passenger demand fell slightly. Chairman Naresh Goyal told the Hindu the airline planned to connect to all of India's tourist destinations. Controlling costs was CEO Wolfgang Prock-Schauer's primary agenda. and. however." Business Times (Singapore). The airline leased two of its Boeing 737s to a Japanese company.7 percent. Forte left the airline in December 2002 to return to the United States. Byas. Jet was poised to profit from an expected extension of flying rights throughout Asia. In May 2003. Sri Lanka. the new uniforms were a year in the making. He was replaced by Wolfgang Prock.300 people. p. Jet estimated that it had a 32 percent market share and that 80 percent of its passengers were business travelers. Alec. Peter Luethi.

"Jet Airways Considering IPO. June 3. 1997." Business Week." Business Line (The Hindu)." Business Today. "Look Who's Gaining Altitude in India. September 6. May 19. Sangita P. 1. Gunter. Market Research High on Agenda': Mr. p. 62. March 22. p. Marcelo. September 14. "Jet Airways Restrained from Bidding for Indian Airlines. "Jet Propelled into Action. "Fledglings Enter India's Open Skies. "Gulf Air to Help Launch Indian Airline. August 13. . Phadnis. Peter Luethi. Gupta. p. and Ashish Gupta. Low Cost." Airline Business. Ballantyne. 2003. September 30. 1999. "Jet Airways Set for IPO and Expansion. p. p. p. "Penning a New Take-Off Plan. 1999." Business Line. April 19. 2003. 2004. September 6. March 8. 12." Business Times (Malaysia).com. Ashwini. 2003. "We Don't Believe Price Wars Are the Answer. 174." Financial Express. June 4. "'Stabilisation. April 13." Hindu (Chennai). Nandini Sen. August 5. Fauziah. ------.------. July 16. "India's Private Domestic Airlines." Economic Times of India. Purvita. 1. 1995. March 17. 13. Edna. August 19. 2002. December 21." Business Review Weekly (Australia). 3." Times of India." Financial Times (London). 5. 1998. Ray. p. Endres. 2000." FT. December 1. 1993. "KLM Signs Up Indian Ally--Jet Airways. Mehta. May 8. Paul." Business Standard. 1. "Jet Setter. "Airline Eyes Stake in Jet Airways. Manjeet. "Jet Airways CEO Clarifies on Quit Move. 1993. "Jet Airways Plans Public Issue." Hindu (Chennai). p. 68." Hindustan Times. p. Chief Operating Officer. 2003. Baby. 20." Financial Times (London)." Business Line. p. Swati." Hindu (Chennai). David." Business Line. "New CEO of Jet Airways Targets $60M Profit. 1999. 1996. 1995. Vinay. 2000. "Domestic Airlines Vie for Market Share. "Jet Airways Will Sport a New Look from Today. Parsai. Ishmail. Jet Airways. 2003." Flight International. 2000. "India Frees Up Private Airlines to Fly to South Asian Destinations. Kripalani." Economic Times." Business Line. 2000." Times of India. 1993. 2003. August 23. 2002. "Jet Airways Plans to Go Public. Soman. "Can Jet Get Its Nose Back Up?. September 27. November 29. 1999. November 25. Tom. Prasad. Cuckoo. Gargi. "Jet Airways Set to Expand Regional Feeder Network. "Jet Mulls Stake in AI to Fly Abroad. Malhan. August 6. 1999." Times of India. Louden. December 3. "Flying Is His Forte. Nina. Chatterjee. Kamath. Fernandes. Menon. "High Market Power. October 21." Moneyclips. p.

"Passengers Get a Choice--India. . Tassell. Sidhva. But the Government Wants to Protect the State Carriers. "Priority for Fleet Strength--Jet Airways Chief. 37. 13. A global campaign. Kay Yew Koh. April 20.S. p." Financial Times (London). 1999. — Frederick C. and we'll let them make the final judgment on our service other airlines. Survey of Business Air Travel.Jet Airways has kickstarted its move to a premium international airline. 2000. p. regional manager of Jet Airways for Hong Kong. Zaheer. Japan and Korea. December 5. "High-Flyer Seeks Airspace: India's Most Successful Airline Has Ambitions to Fly Beyond the Country's Borders. Hong Kong Published: Sep 26. Tony. 1997. featuring Bollywood celebrity Sharuk Khan. 2000. Tay Han Nee. Kamil. July 7. p. He added that Hong Kong locals are very brand conscious and enjoy premium brands. and local branding initiatives are set to roll ou aiming to strengthen the Indian company's image among the non-Indian community. January 4. Taiwan." Far Eastern Economic Review. "We want Jet Airways to be accepted by the locales." Travel Trade Gazette Asia." Hindu (Chennai). The branding project will be held as a joint campaign between the group and several travel agents like The Sun Agent and the Indian tourism sector. 2008 Hong Kong . While the campaign aims to promote Indian culture and tourism. unveiling its in-flight service offerings to local press and travel agents. 1995.answers. T. "Jet Airways CEO Kardassis Quits. Shiraz. the main objective of is to bring the Indian bran non-Indian community. "Sky High Plans for Jet Airways.Shankar. 2002. Joanna. Ingram Read more: http://www." he said. IV." Economic Times. August 7. Jet Airways Looks Beyond Indian Base By: Cass Lam.. said Jet Airways has g amount of Cathay Pacific passengers since its launch in April this year. Companies and Finance." Financial Times (London). December 15. "Jet Airways Leaves Its Indian Rivals Standing: Newer Aircraft Have Given Naresh Goyal's Carrier a Private-Sector Lead.

Companies featured: Jet Airways Jet Airways Related Stories: Jet Airways' social media efforts take off Indian private carriers soar this fiscal IBM bags Jet Airways outsourcing deal India clears budget carrier orders Indian carriers halt cargo operations Air cargo traffic sees upsurge Poor infrastructure bane to Indian freight Jet Airways. FedEx in talks to launch cargo arm Emirates names lead for Malaysia Singapore targets Indian travelers with portal CAAS honours top 10 airlines Jet Airways launches Reap campaign Jet Airways to show staff the door Ads get a thumbs down at Jet Airways Jet Airways takes off in blogosphere Jet Airways Reaps Kids' Biennale Etihad's new agent with a mission Jet Airways rolls out buses for brand push Big biz campaign is Jet's budget buster Latest stories by Cass Lam: Newspaper price war reaches stalemate i-Cable takes back UEFA media rights UEFA signs three-year pact with XFMedia Nielsen to test online effectiveness Jebsen renews business strategy .

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