Jet Airways (India) Share Price Jet Airways
Jet Airways (India) Limited (JAIL) was incorporated in 1st April 1992 as a private company with limited liability and it commenced operations as an Air Taxi Operator in 5th May 1993. The Company became the first airline in India to operate the Boeing 737-400 Aircraft in April of the year 1994 and it operates one of the youngest aircraft fleets in the world today. The Company was granted the scheduled airline status in 14th January of the year 1995. Jet Airways became a deemed public company in 1st July1996. The principal activities of the Company comprises of scheduled air transportation, which includes carriage of passengers, cargo and provision of related allied services. As on 31st March 2018, the Company had a fleet of 112 aircraft, comprising 10 Boeing 777-300 ER aircraft, 5 Airbus A330-200 aircraft, 4 Airbus A330-300 aircraft, 75 Next Generation Boeing 737-700/800/900/900ER aircraft, 15 modern ATR 72-500 Turboprop aircraft and 3 ATR 72-600 aircraft.Jet Airways was reconverted into a private company as at 19th January 2001. The Company bagged the prestigious Air Transport World Award 2001 for Market Development and the TTG Travel Award 2002 for Best Domestic Airline. In the year 2004, the company made tie up with the South African Airways. During the year 2005, Jet Airways Limited has filed its draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) to enter the capital market with its initial public offering for used to fund its international expansion plans. Jet Airways became a public company in 28th December of the year 2004. The Company launched its first inter-continental flight by linking Mumbai with London Heathrow by a non-stop day flight in the month of May during the year 2005. Jet Airways executed its purchase agreement with The Boeing Company, USA in the year 2005, also in the identical period introduced an In-flight Safety Manual in Braille, signed a pact with Gulf Air and the company won the Avaya Global Connect Customer Responsiveness Award. During 2005-2006, the company completed the construction of hangar complex with workshop and allied facilities in Mumbai. In 2006, the company signed a special code sharing (SPA) agreement with American Airlines, the worlds largest carrier, for India and US flights. The Company introduced a second Mumbai-London (Heathrow)-Mumbai frequency effective from 10th July of the year 2006 and commenced its operations on the Amritsar-London (Heathrow)-Amritsar sector in 4th August of the year 2006. The Memorandum of Understanding (MoU) was made with Lufthansa Technik AG, Germany in the year 2007 for A330/B777 Component Works, Personnel Assignment Services and Maintenance Management Services. Also in the same year 2007, Jet Airways inked 8mn aircraft lease agreement and introduced its first flight from Chennai to Toronto, via its hub in Brussels. In September 2007, Brussels Airlines declared as Jet Airways new frequent flyer programme partner, Under this programme, members of Jet Privilege and Privilege Programme of the Belgian airline will be able to cash in the air miles on each others network. Jet Airways and Etihad Airways, the national carrier of the United Arab Emirates, had inked a code share agreement in June of the year 2008 and reciprocal frequent flier partnership on the New Delhi-Mumbai-Abu Dhabi sectors. In same June 2008, launched its daily Mumbai-Shanghai-San Francisco flight, becoming the first Indian private carrier to operate to China. The Company enhanced its network connectivity from Pune with the launch of its new direct services to Hyderabad, Nagpur & Ahmedabad effective from July 15th 2008. During the same month, Jet Airways got permission for fly to Dubai from Delhi and Mumbai.With a view to unlock the value of the business of operating a frequent flyer, loyalty and points-based reward scheme under the name Jet Privilege Frequent Flyer Programme (JPFFP) and subsequent to the approval of the Members obtained by way of Postal Ballot, in March 2014, the Company transferred the JPFFP to JPPL on 21st April, 2014, During the year, the Company and Etihad Airways PJSC agreed to promote the business of Jet Privilege Private Limited (JPPL) and to invest in JPPL. Accordingly, fresh shares were allotted to the Company and Etihad Airways PJSC taking their holding to 49% and 50.1% respectively in JPPL. JPPL thus ceased to be a subsidiary of the Company with effect from 24th March 2014.In FY 2017, the Company added frequencies between India and Nepal, providing guests with greater choice while doubling its capacity on the sector. New international flights from Bengaluru to Singapore and Colombo were also launched during the year, enhancing connectivity as well as capacity to ASEAN and SAARC regions, including deployment of B777 from Mumbai to Singapore.During the year 2017, the Company expanded its connectivity to the Far East via code share agreements with Hong Kong Airlines, Fiji Airways and Jet Star Asia, bringing new and unique destinations such as Okinawa in Japan, Darwin in Australia as well as Auckland in New Zealand into its network fold.During the year 2017, the Company strengthened its ongoing relationship with code share partners Delta Air Lines, KLM Royal Dutch Airlines, Air France and Virgin Atlantic, expanding connectivity via its European gateways to cover 34 points in North America and 46 points in Europe.On 29th October 2017, the Company launched its three international non-stop services between Chennai and Paris CDG (five days/week), Bengaluru Amsterdam (daily) and Mumbai London Heathrow (Third frequency). The new flights from Bengaluru and Chennai are especially significant as they India with Europe and North America for the very first time with non-stop and one-stop flights in codeshare with KLM Royal Dutch Airlines and Delta Air Lines as well as with Air France and Delta Air Lines respectively. The Company also strengthened services from its third hub - Bengaluru with a second daily frequency to Singapore.During FY2018, as a part of network expansion the company increased its capacity between emerging cities to enable its guests access direct return non-stop flights from Indore to Ahmedabad easily. The Company started industry-first and Jaipur, along with 11 other direct or one-stop through flights between Delhi-Silchar, Dehradun-Jaipur to name a few. To strengthen its network and gain out of partnership with Air France, KLM, Delta, the company launched two new services into Europe a daily service between Bangalore-Amsterdam and a five-day per week service between Chennai Paris. Jet Airways also introduced a third daily frequency between London and Mumbai and recently announced a forthcoming first ever four days a week, non-stop service between Mumbai and Manchester, effective 5th November 2018.In FY 2018, the Company signed a Memorandum of Understanding with Air France and KLM Royal Dutch Airlines on Strategic Cargo Co-operation. Key important actions implemented by Cargo, dynamic sales & marketing activities with continuous monitoring and improvement on the cargo mix, coupled with deployment of Airbus A330 aircrafts on domestic routes further enhanced capacity utilization.