September 2022, Virtual
September 29 2022, Virtual
Now in its 27th year, the Business Travel Awards
Etihad has hailed its investment into Jet Airways as it reports strong passenger growth, increased flight connections and lower operating costs.
Speaking at a media conference in Mumbai, senior executives from both airlines gave details of the Indian carrier’s results.
The figures showed that since Etihad’s 24 per cent investment in Jet Airways in November 2013, the two airlines have increased direct routes between India and Abu Dhabi from nine to 15, and increased to multiple daily flights in some markets.
The two airlines now have a 21 per cent share of India’s international air travel market.
Jet Airways chairman Naresh Goyal, said: “Our strategic collaboration with Etihad Airways includes network integration, joint sales effort, sharing of resources, collaborated procurement and knowledge transfer.
“All of these have enabled us to leverage cost advantages and economies of scale to the eventual benefit of our guests, as well as our employees.”
Jet Airways has its 9W code on Etihad Airways flights to 33 destinations across the world, while Etihad Airways now places its EY code on 60 Jet Airways routes, mostly within India.
The airlines have also aligned their schedules between Abu Dhabi and India to improve flight connectivity between their networks.
Etihad CEO James Hogan said: ““Before our equity deal with Jet Airways, we had two per cent of the international traffic out of India. Today, with Jet Airways, we have 21 per cent of the market, and combined, we are the dominant carriers out of India.
“Jet Airways is now our number one equity partner for revenue and passenger contribution on Etihad Airways. India is now Abu Dhabi’s number one source market for international visitors.”
Last year, Etihad said it aimed to make Jet Airways profitable in three years. The turnaround plan included a range of “critical measures” such as long-term network, fleet and product developments to “optimise the airline’s domestic and international operations”.
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