Jet to double revenues to $3bn by 2010

Jet to double revenues to $3bn by 2010


New Delhi: India’s largest private carrier Jet Airways expects to more than double its revenues to $3 billion in the next three years.

“We expect our revenues to go up from the current $1.4 billion to $3 billion by 2010", Jet Airways Chairman Naresh Goyal told reporters here on the sidelines of the Fortune Global Forum.

He said in the next three years, domestic and overseas operations would be contributing equally to the topline of the carrier. According to him, every year, the company expects about 15% growth in its domestic revenues.

The company had yesterday announced that its total income rose over 26% to 2,254.17 crore in the Q2 this fiscal from 1,787.33 crore during the same period last fiscal.

With the bilateral agreement between India and Belgium being reviewed, it would increase Jet’s flight frequencies to Brussels. The company had earlier announced to establish the Belgian capital as its European hub.

“Currently, under the existing agreement, we fly from Mumbai, Delhi and Chennai only with 28 flights in a week to Brussels. Once the treaty is reviewed, it would double the number of flights to 56."

Goyal said after the review, Jet would be able to fly from places like Hyderabad, Kolkata, Bangalore, Ahmedabad and Amritsar. “Once this (review of treaty) is through, it would better our revenues and increase our profitability."

He said currently, Jet has several alliances with foreign airlines which connect its passengers to more than 50 international destinations. Commenting on fleet expansion, he said the airline would shortly induct six aircraft.