After four years in the red, Jet Airways finally turns around. But sustaining this performance will be a bigger challenge.
THE TURNAROUND STORY
Jet set up about 20 teams to cut costs in several areas, including engineering, fuel and maintenance
Codeshare agreements with 23 airlines and partnership with Etihad Airways helped it sign lucrative ground handling, fuel and catering contracts
More sweating of aircraft improved the number of passengers flown
Fall in aviation turbine fuel prices reduced costs
It also gained from the overall rise in passenger traffic in the Indian aviation market
Just five days before Jet Airways was to shift its European hub from Brussels to Amsterdam, terrorists carried out two bomb blasts at Brussels airport, leaving thousands of passengers stranded. Jet’s four Airbus A330s and more than 600 passengers were also stuck. But as luck would have it, Jet was able to quickly move its passengers and aircraft to Amsterdam due to the recent arrangement with the Dutch government. The shifting of the European hub from Brussels to Amsterdam was aimed at covering more cities in Europe and North America with the help of codeshare agreements with KLM Royal Dutch Airlines and Delta Air Lines, the partners of Etihad Airlines, which owns a 24 per cent stake in Jet. Codeshare is an arrangement under which two or more airlines share a flight.
This story is from the June 19, 2016 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 19, 2016 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
"Focus on the challenge of each customer"
SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company
PEDAL ON THE FUTURE
THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY
BREATHE EASY
Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference
The Taste of India in a Glass
FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN
LOOK BEFORE YOU LEAP
IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES
MISSING ADVISORS
INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE
TURNING A CORNER
SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE
REALITY CHECK
INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?
TRUMP'S TRADE TANGO
The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?
"The essence of the Trump administration will be transactional”
Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more
