Jet Airways today reported a 33 % increase in its domestic passenger traffic for the month of November 2009, as compared to the same period last year. The airlines’ international passenger traffic has also registered a growth of 19% on a seat factor of 81.9% in November 2009.

JetLite the wholly owned subsidiary of Jet Airways India Ltd has also done remarkably well in increasing its passenger traffic by 22% and a seat factor of 76.7% in the month of November 2009.

Mr. Nikos Kardassis, Chief Executive Officer, Jet Airways (I) Ltd said, “Our improved performance in November 2009 is largely due to the contributions of our team of highly dedicated professionals and the coming together of a series of strategic restructuring initiatives being implemented by the airline over the last year. The restructuring involved a series of route rationalizations, trimming of strategic costs, streamlining of processes, addition of new routes and an enhanced customer experience. Additionally, a number of marketing and network initiatives have resulted increased payloads and led to a robust growth in traffic despite the all-round fall in global air travel.”

Kardassis added, “Jet Airways Konnect launched this year was our flexible, pragmatic response to the downshift in demand across several domestic routes, which saw a shift in demand from full-service to low-cost due to the global slowdown. With business loads down, Jet Airways Konnect enables Jet Airways to offer passengers a quality, low-fare product, with the option of re-introducing business class seats when demand for the same picks up. Jet Airways continues to be the preferred choice of travel for international and domestic routes recording a higher load factor and enhanced yields helped by innovative pricing to match capacity with demand.”
As part of the company’s strategic expansion program, the airline has also introduced new routes for its guests connecting Delhi – Chennai / Patna / Raipur and additional services on the Mumbai – Coimbatore in the domestic sector. On the international sector, Jet Airways has enhanced its connectivity with the introduction of a new Mumbai – Kathmandu service with its new – generation Boeing 737 aircraft and increased frequency on the Delhi – Kathmandu sector. The airline will also introduce a new Mumbai – Dhaka service on December 23rd 2009. Both these services will offer travelers seamless connectivity to several destinations across India, as well as to the Gulf, North America, Europe and ASEAN.

In a bid to create a larger customer base and offer enhanced services to its international and domestic travelers, Jet Airways plans to develop Delhi and Mumbai as major hubs to international destinations.

Jet Airways has entered into codeshare agreements with top airlines like American Airlines, Air Canada, All Nippon Airways, Brussels Airlines, Etihad Airways, Emirates, JetLite, Malaysia Airlines, Qantas Airways, Virgin Atlantic, thus increasing capacity and providing enhanced connectivity for their guests.

PRESS RELEASE/Jet Airways

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Last Friday evening, the Air India board met to pass the accounts for the financial year 2006-07. According to the original financial documents presented to the board, the airline had recorded a net loss of Rs 541.3 crore for 2006-07, its biggest ever.
“It is a sad day in the 70-year-old history of Air India,” said a functional director of the airline, who slipped out of the meeting to talk to ET. Air India had reported a profit after tax of Rs 14.94 crore in 2005-06.



Insiders said that losses would have been close to Rs 1,100 crore, were it not for a range of ‘smart’ measures to lessen the impact. Air India’s two auditors, Kalyaniwala and Mistry and SK Mehta and Co, had qualified the accounts with comments on each of these measures.

Apparently, ICICI Bank chairman N Vaghul, an independent director on the board, had raised a range of issues relating to the auditor’s qualifications.
“The final losses could be in the region of Rs 700 crore,” said a senior executive close to the developments.

The same board, which met for the Air India board meeting, also discussed and passed Indian’s accounts. Fortunately, Indian was able to buck the trend and report a tidy profit of Rs 57 crore during the same period. So even though Air India’s net worth has turned negative, the company is banking on Indian’s capital base to bail it out.

24/11/07 Cuckoo Paul/Economic Times