Posts Tagged ‘Jet Airways’


[Economic Times] MUMBAI: In what is seen as a step towards closing its proposed investment plans in Jet Airways, Etihad Airways on Wednesday said it has paid $70 million to buy three slots of the Naresh Goyal-promoted airline at Heathrow airport in London.

Etihad, which is in talks with Jet on possibly taking a stake in the firm, said discussions about further investment were continuing.

Etihad, which is in talks with Jet on possibly taking a stake in the firm, said discussions about further investment were continuing. Picture: Wikipedia

“Etihad Airways can confirm that it has concluded a transaction with Jet to purchase Jet’s three pairs of Heathrow slots for $70 million. The purchase is part of a sale and lease back agreement signed yesterday,” Etihad said in a statement.

The statement further said Jet will continue to operate flights to London utilising these slots.

The deal further strengthens the existing commercial relationship between the two airlines, which came into effect in July 2008, making provision for code-sharing, Etihad said.

On the ongoing stake sale talks between the two, Etihad said they continue to progress with discussions about further investment in Jet.

However, on the 24 per cent proposed stake sale toEtihad, Jet sources said, Jet has reportedly agreed to cede more management control, including more board positions to Etihad. However, this could not be officially verified with either Jet or Etihad officials.

This is to enable sealing the deal that has of late hit some air pockets with the UAE-based airline saying that it wanted to re-look at its investment plan in Jet……

Read the full story at The Economic Times of India…..


Economic Times
27th Feb, 2013


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[The Indian Express] Amid great fanfare, Boeing has rolled out the first 787 Dreamliner aircraft produced at its brand new plant in South Carolina and built for Air India to be delivered in mid-2012.

"This is a proud moment for Boeing as we roll out an airplane from our third final assembly site," Jim Albaugh, president and chief executive officer,

"This is a proud moment for Boeing as we roll out an airplane from our third final assembly site," Jim Albaugh, president & CEO: Picture thanks to Eric Prado via Flickr

The airplane’s rollout marks the first time that a Boeing commercial airplane has been produced in the Southeastern United States, the US aerospace giant said.

“This is a proud moment for Boeing as we roll out an airplane from our third final assembly site,” Jim Albaugh, president and chief executive officer, Commercial Airplanes said yesterday at the function held in North Charleston.

The 787 airplane built for Air India next goes to the flight line, where it will go through systems checks and engine runs in advance of taxi testing and first flight.

The airplane remains on schedule for delivery to Air India in mid-2012, Boeing said in a statement.

While Air India has ordered 27 of these new planes, Jet Airways has placed orders for ten. The national carrier is expected to get at least three of these air-planes this year.

The long-haul aircraft made of composite materials like carbon fibre, is portrayed as fuel-efficient aircraft which would help slash flying costs significantly.

“We’ll celebrate today, and tomorrow we begin the process of getting the airplane ready for delivery to our Air India customer,” said Jack Jones, Boeing South Carolina vice president and general manager.

The ceremony was attended by nearly 7,000 Boeing employees and invited guests. The festival-like atmosphere, featuring aerial displays, music and entertainment, was a fitting celebration to commemorate assembly completion of the first 787 built at the North Charleston, facility, the company said……

… story continues at The Indian Express……


The Indian Express Group
Sun Apr 29 2012



MUMBAI: In a move that would give Jet Airways a cutting edge advantage over its rivals, the country’s largest private carrier is likely to move a large part of its international operations to Munich in Germany by the year end, said two people familiar with the development.

India's largest private carrier is likely to move a large part of its international operations to Munich in Germany

India's largest private carrier is likely to move a large part of its international operations to Munich in Germany

Those in the know of the matter also said the development is a precursor to the Naresh Goyal promoted airline joining Star Alliance, one of the biggest airline alliances in the world that flies over 600 million passengers around the globe annually.

Jet already has a European hub in Brussels, in Belgium which it established in 2007 and it might reduce operations considerably to the European city or slowly shift base to Munich, the exact strategy of the airline for its scissor operations at Brussels could not be ascertained immediately.

Jet Airways spokesperson said the in a reply to ET query that the story is speculative while Jet’s CEO, Nikos Kardsis declined any such move being contemplated by the Indian carrier. Another Jet senior official Sudheer Raghavan also said that the query is speculative.

But the 35 new flights to Munich requested by Jet Airways from the ministry of civil aviation for its winter schedule tell a different story. The move comes at a time when the ministry has allowed private carriers to have equal rights with Air India for international operations.

Jet’s shift in favour of Munich can also be gauged from its recent application when it applied for an additional flight from its current hub at Brussels that came with some great sops in airport charges and an interline agreement with Brussels airlines.

Jet currently operates 200 international flights daily with a fleet of 101 aircraft and is said to be looking to add some more wide-body aircraft to its fleet as and when the market conditions stabilise….

Read the full story at The Economic Times….


12 April, 2012
Manisha Singhal, ET Bureau