Jet Airways

Not to be confused with Jat Airways.

Jet Airways
IATA ICAO Call sign
9W[1] JAI[1] JET AIRWAYS[2]
Founded1 April 1992 (1992-04-01)
Commenced operations5 May 1993 (1993-05-05)
Ceased operations17 April 2019 (2019-04-17) (Until December 2024)
Hubs
Frequent-flyer programIntermiles[3][4]
Fleet size5
Traded asBSE: 532617
NSE: JETTAIRWAYS
ISININE802G01018
HeadquartersDelhi, India
Key peopleMurari Lal Jalan (non-executive Chairman)
RevenueIncrease ₹252 billion (US$3.0 billion) (FY 2017–18)[5]
ProfitDecrease ₹−6.3 billion (US$−75 million) (FY 2017–18)[5]
Employees16,015 (2017)[6]
Websitewww.jetairways.com

Jet Airways (India) Limited, trading as Jet Airways, was an Indian airline based in Delhi, with a training and developmental centre in Mumbai. Incorporated in April 1992 as a limited liability company, the airline began operations as an air taxi operator in 1993. It began full-fledged operations in 1995 with international flights added in 2004. The airline went public in 2005 and in 2007, when it acquired Air Sahara. The airline is expected to re-commence its flight operations by the end of 2024, making it the first Indian airline to be revived after ceasing operations.[7]

It grew to be one of the largest airlines in India, with a 21.2% passenger market share in February 2016. It operated over 300 flights daily to 74 destinations worldwide from its former main hub at Chhatrapati Shivaji Maharaj International Airport in Mumbai and secondary hubs at Chennai International Airport in Chennai, Indira Gandhi International Airport in New Delhi, Kempegowda International Airport in Bangalore, Cochin International Airport in Kochi and Netaji Subhas Chandra Bose International Airport in Kolkata.

With its competitors, mainly SpiceJet and IndiGo, lowering ticket fares in the following years, it was forced to follow suit, hurting overall performance resulting in steep financial losses. It dropped to second place behind IndiGo in October 2017, with a passenger market share of 17.8%. The downward slide continued and resulted in bankruptcy in 2019.[8] Jet Airways ceased operations in April 2019.

In 2020, Jet Airways was taken over by an investment company Kalrock with a view to restart operations in 2022, which however did not happen due to financial problems and ongoing proceedings with the National Company Law Tribunal (NCLT).[9] The airline is now expected to restart operations by end of 2024, with Jalan-Kalrock's ownership retained.[10][11]

  1. ^ a b "Jet Airways". ch-aviation. Archived from the original on 5 August 2017. Retrieved 2 August 2017.
  2. ^ "JO 7340.2G Contractions" (PDF). Federal Aviation Administration. 2 August 2017. pp. 3–1–17. Archived (PDF) from the original on 11 June 2017. Retrieved 2 August 2017.
  3. ^ Kundu, Rhik (14 November 2019). "Seven month after Jet's grounding, JetPrivilege renamed InterMiles". Livemint. Mint. Retrieved 17 November 2019.
  4. ^ "Jet Airways' frequent flier programme JetPrivilege is now InterMiles. The benefits and riders, explained". cnbctv18.com. 15 November 2019. Retrieved 17 November 2019.
  5. ^ a b "Audited Financial Year Results for the Financial Year ended 31st March 2018" (PDF). JetAirways. Retrieved 10 May 2018.
  6. ^ Jet Airways Annual Report 2017 (PDF) (Report). Jet Airways. Archived from the original (PDF) on 22 December 2015. Retrieved 19 December 2017.
  7. ^ "India's Jet Airways yet to secure aircraft for ops restart". ch-aviation. Retrieved 29 September 2022.
  8. ^ "NCLT admits lenders' move for bankruptcy proceedings against Jet Airways". 20 June 2019.
  9. ^ "Is India's Jet Airways finally dead?". Quartz. 22 May 2023. Retrieved 18 July 2023.
  10. ^ "Jet Airways gains 5% after Jalan-Kalrock infuses Rs 100 cr, aims to take off next year". Moneycontrol. 29 September 2023. Retrieved 29 September 2023.
  11. ^ Bureau, The Hindu (8 May 2024). "Supreme Court hears SBI consortium's appeal against NCLAT verdict on Jet Airways transfer". The Hindu. ISSN 0971-751X. Retrieved 17 July 2024. {{cite news}}: |last= has generic name (help)