Archive for the ‘Jet Airways’ Category

Duty evasion charge on corporates

December 18, 2006

The Directorate of Revenue Intelligence (DRI) has booked cases against Jet Airways and Air Sahara. The cases are for non-payment of customs duty on aviation turbine fuel (ATF) for flights getting converted into domestic operations after completion of an international operation, minister of state for finance SS Palanimanickam said in a written reply in the Lok Sabha. While airlines do not have to pay taxes and duties when they operate to international destinations, taxes are applicable on domestics routes.

Jet and Sahara have paid differential duty amounting to Rs 67 lakh & Rs 21 lakh respectively, in cases booked against them in Mumbai.

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Soon, book Jet Airways tickets at fair price shops

December 13, 2006

Soon, you can book tickets of Jet Airways at fair price shops in Gujarat. Officials said the Gujarat government will begin negotiations with the airline as soon as the Jet management shows interest in the state government’s proposal.

The idea of selling air tickets from fair price shops was conceived as part of revitalising the concept of such shops and modernising about 15,000 fair price shops in the state to make them more competitive. It is planning to convert it into a full-fledged consumer shop.

SK Nanda, the secretary of the state’s Food and Supply Department, told Business Standard, “If all goes well, one would be able to book airline tickets at fair price shops in urban areas. For this, we have approached Jet Airways and offered them this proposal. We have already submitted the proposal to the airline’s regional management, which would later be forwarded to their central management.”

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Jet Airways to fly US, Canada

December 12, 2006

Aiming at 50 per cent revenue from its international operations in three years, Naresh Goyal-promoted Jet Airways is planning to launch flights to New York in August followed by San Francisco and Toronto.

Jet Airways will launch direct daily flights from Delhi and Kolkata to Bangkok from January 23, 2007. Jet Airways Chief Executive Officer Wolfgang Prock-Schauer said : “ Flight to San Francisco via Shanghai is likely to start in October 2007. We will be able to fly to Gulf destinations by early 2008. We are also looking at South Africa and Kenya.”

The airline will be having 22 widebodies aircraft by 2008-09. Earlier Jet Chairman Naresh Goyal had said that the airline is aiming at 50:50 ratio for revenues from international and domestic operations in next three years.

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Jet signs deal for simulators

December 7, 2006

Jet Airways has signed a contract with CAE for supply of Boeing 777-300 extended range and Airbus A-330 simulators.

In addition, the Canadian-based company will provide a CAE Simfinity Integrated Procedures Trainer (IPT) for the Boeing 777-300 ER aircraft as well as a CAE Simfinity Maintenance Flight Training Device for the A330 aircraft.

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Airline industry in a flutter as Patel grounds congestion levy

December 7, 2006

The domestic airline industry appears divided on the just imposed Rs 150-congestion cess by some carriers even as civil aviation minister Praful Patel on Tuesday ticked off carriers for levying the new surcharge.

Vijay Mallya’s Kingfisher Airlines, which had first come out with the surcharge, said it had no plans to rollback the cess. At the same time, government-owned Indian aligned itself with the minister’s views by emphasising that it will not impose a congestion surcharge.

Other full-service carriers, Jet Airways and Air Sahara, seem to be adopting a wait-and-watch approach. Low-cost players like Air Deccan and SpiceJet, on the other hand, are not keen on this new levy. Mr Patel’s outright rejection of the surcharge means that it is likely to be phased out even if not scrapped immediately by all airlines.

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Jet ties up with American Airlines

December 1, 2006

Jet Airways has entered into a special code sharing (SPA) agreement with the world’s largest carrier American Airlines for India-US flights. 
Travellers from various regions in India will have the convenience of using Jet Airways’ network to reach London and then fly onwards to Chicago and beyond on American Airlines. 
“This agreement ensures seamless travel to Chicago with one ticket from India including baggage. This will also boost sales of both Jet Airways and American Airways,” industry analysts said. 
The fleet of American Airlines, including its regional airlines, numbers more than 1,000 aircraft. 

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Jet Airways grounds Shweta Singh

November 25, 2006

Shweta Singh, wife of late BJP leader Pramod Mahajan’s son Rahul, has again caught media attention after she was taken off pilot duties by Jet Airways following a rough landing by her that could have caused a major accident.

The Directorate General of Civil Aviation had directed the private carrier to “de-roster” Shweta and the co-pilot of a flight from Delhi to Hyderabad on November 16 for applying speed brakes and improper wing flap position while landing.

The DGCA said the “accident value was perceived to be high during the incident”, official sources said, adding that the her actions prima facie constituted violation of the Standard Operating Procedures and safety norms.

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Jet may get nod for Gulf flights

November 25, 2006

Jet Airways may get permission to start flying to Gulf next year. This follows a review of the policy to reserve flights to the Gulf for Air-India and Indian.

Gulf-based carriers have been expanding in India, and there is a view that the two public sector carriers are not matching this with additional capacity.

Jet’s operations on these high-turnover sectors are likely to impact margins of A-I and Indian. The government had promised these airlines a five-year exclusivity to Gulf, when international operations were permitted for Jet and Sahara. However, there was no written commitment to the effect.

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Sahara files Rs 3020 cr claims against Jet

November 25, 2006

Questioning Jet Airways’ failure to acquire it, Air Sahara has filed a claim of Rs 3,020 crore before an Arbitration Tribunal here and sought the honouring of the share purchase agreement (SPA) reached by the two parties in January. 
In its plea before the Arbitration Tribunal headed by British Judge Lord Stein on November 20, Air Sahara sought Rs 3,020 crore from Jet towards execution of the SPA along with recovery of inter-line business revenue that the latter accrued for nearly three months. 
As part of its plea, Sahara sought a direction from the tribunal that Naresh Goyal-promoted Jet should execute the SPA and close the transaction as per directions of the tribunal. 

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Jet to replace ICICI with SBI as guarantor

November 21, 2006

Jet Airways has moved the Bombay High Court to change its guarantor from ICICI Bank to State Bank of India.

CNBC-TV18 has learnt that ICICI agreed to give it a bank guarantee of Rs 1,500 crore against the release of money in the Escrow account. But sources say ICICI Bank asked Jet for collateral worth Rs 1,500 crore.

But unlike ICICI Bank SBI wants collateral of just Rs 750 crore or half the amount that ICICI has claimed.

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