Financial Daily from THE HINDU group of publications
Thursday, Sep 22, 2005
Jet Airways captures 24 pc of Mumbai-London sector
Tunia Cherian George
Mumbai , Sept 21
JET Airways has captured a fourth of the market share on the Mumbai-London route within three months of launching the service in May this year. In August, the airline carried approximately 13,000 passengers, which represents 24 per cent of the traffic on this route.
Mr Peter Luethi, COO of Jet Airways, said that this was a significant achievement given that it was achieved in just three months. Average loads on the sector were in excess of 70 per cent, he added. He was quoting Government data to confirm the marketshare information.
Me Luethi attributed the performance to a combination of factors, including convenient daytime departures from Mumbai; a quality product on business class; pricing of the economy segment; in-flight entertainment, and an understanding of the Indian market.
He told Business Line that passengers from India make up about 60 per cent of the loads on the Mumbai-London sector, though this number varied with the season.
The airline has deployed the A340-300 E (Enhanced) aircraft, with a capacity of 269 passengers in a two-class layout, on the sector. Jet Airways plans to launch a daily service between Delhi and London from October 30.
Besides Jet Airways, a clutch of Indian and UK-based carriers offer services on this sector, including Air India, Virgin Atlantic, British Airways, and bmi (British Midlands).
Mr Luethi was speaking to newspersons on the sidelines of a function to launch an in-flight safety instruction manual in Braille.
The manual was unveiled by film star, Rani Mukherjee. The manual will be available on all Jet Airways flights from October 2005.
The airline listed on the stock exchanges in March this year at an issue price of Rs 1,100.
The stock is currently trading at Rs 1,101.25, about Rs 11 off its previous close of Rs 1,111.65.
For the quarter ended June 2005, the airline posted a net profit of Rs 95.34 crore, an 84 per cent increase on Rs 51.96 crore in the corresponding previous quarter.
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