Responding to the growing demand from the Europe market, Jet Airways, the second most prominent private airline of India, is all set to deploy six wide-body Boeing aircraft to Amsterdam, Paris and Toronto from August 2016.
Jet Airways initiated moves to take back the six B777-300 ER aircraft, wet-leased to partner airline Etihad Airways as an upgrade of the existing Airbus fleet. The replacement is intended to meet the demand of additional capacity in the core European and Gulf markets. The carrier also plans to fly the wide-body aircraft in some of its domestic routes.
In FY16, Jet Airways shifted its European gateway from Brussels to Amsterdam, resulting in significantly enhanced connectivity for its guests to 30 destinations in the Europe market and 11 in North America along with codeshare partners KLM and Delta.
Jet Airways faced an unprecedented situation following the terrorist attack in Brussels in March 2016. However, a well-coordinated and quick response by teams across Jet Airways network resulted in the safe evacuation of guests.
Profitable fourth quarter
Jet Airways is surfacing the headlines after registered their fourth straight profitable quarter last week. For Q4 of FY16, the company reported a net profit of INR 4.26 billion, compared to a loss of INR 18.03 billion for the same period last year.
Naresh Goyal, Chairman, Jet Airways, said: “Jet Airways has been revitalized as a business in the last two years. Our focused efforts have resulted in significant improvement in operational performance leading to record profitability. Customer satisfaction, network enhancement and driving benefits through further improvements in operational efficiencies continue to be our key priorities. The Indian aviation industry is witnessing a growth phase and Jet Airways’ commitment to connect India to the world and vice versa is our contribution to India’s economic growth story.”
Etihad partnership strengthens
Jet Airways along with Etihad Airways, now has the largest market share of the Indian international traffic. It is observed that the overall codeshare traffic for the fourth quarter of FY16 grew by 21 pc to 5 70, 000 passengers. A wider network of codeshares now enables Jet Airways to offer significantly enhanced global connectivity including the Europe market witnessing an increase in passenger traffic. The codeshare traffic with strategic alliance partner Etihad Airways over its Abu Dhabi hub and with its partner airlines grew 45 pc in Q4 of FY16.
James Hogan, President and CEO of Etihad Aviation Group and the Vice Chairman of Jet Airways, said: “We are very satisfied with the strong operational and financial performance achieved by Jet Airways. Etihad Airways is committed to its partnership with Jet Airways and is focused on driving further synergies, along with other Etihad Airways Partner airlines.”
Allure the mid-market business and leisure travellers of India
Responding to the promising fiscal results, the airline is extending its commitment to provide a best-in-class full service travel experience to all the destinations in the Europe market. Jet Airways announced the confirmation of its largest-ever fleet order for 75 Boeing 737 Max aircraft.
Jet Airways is strategically aiming to allure the mid-market business and leisure travellers of India to the European destinations. Jet Airways’ improved performance was largely due to the combination of enhanced fleet utilization and optimization of network, which enabled better integration between domestic and international operations. Additionally, the implementation of a full service strategy across the domestic operation, supported by the ‘Guest First’ approach along with an increased focus on premium traffic, has contributed positively. Time will reveal, whether the introduction of the Boeing wide-body aircraft in the Europe market will turn out to be a game-changer for the airline.