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Jet Air sees profit from US route in year 1

Jet Air sees profit from US route in year 1
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First Published: Thu, Oct 18 2007. 11 53 PM IST
Updated: Thu, Oct 18 2007. 11 53 PM IST
India’s largest domestic carrier, Jet Airways (India) Ltd, expects to earn profits on its US flights in the first year of operations as travel demand between the two countries increases. The airline is filling more than 70% of seats since it became the first private carrier from India to fly to the US in August, said its chairman Naresh Goyal in an interview from New York.
Jet Airways, which now flies Mumbai-Newark (near New York), plans to start flights from New Delhi to New York’s John F. Kennedy Airport later this month, he said. Economic expansion in India has attracted investments from US companies, spurring business travel. Travel demand from the 2.5 million Indian software professionals, students and families in the US is also growing.
Jet Airways will fly to Shanghai from Mumbai in February, and plans to start flights to San Francisco, Goyal said.
The carrier won’t delay a proposed $400 million (Rs1,580 crore) share sale in India because of the turmoil in the stock market on Wednesday, Goyal said. India’s benchmark Sensex index fell 1.8% on Wednesday, which also saw Jet’s scrip down 1.4%.
“We decided for January and we are continuing with that. There is no change in our programme,” he said. On Thursday, Jet’s stocks fell 0.35%, while the Sensex was down 3.83%.
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First Published: Thu, Oct 18 2007. 11 53 PM IST