South Asian Business news and information

Indian Airlines are feeling the pressure of the growing appetites of the Indians to travel abroad.  Jet Airways, the top and the largest airlines of India, is looking forward to acquire ten new Boeings. I am quoting from the report published in Earth Times.org:

India's No 1 private airline Jet Airways Ltd. is buying 10 Boeing 787-800 Dreamliner aircraft to expand its fleet and to meet requirements of its international operations.

The company said the wide-bodied aircraft will be delivered between July 2011 and December 2012. The order, placed in late 2006, is valued around $1.58 billion at the listed price.

The airline operates flights to destinations in south and southeast Asia and Britain besides domestic routes. It has plans to add New York sometime later in 2007 and is also targeting busy routes in China, Europe and the Middle East.

In 2005, Jet Airways ordered for B777-300ER and A330-200 aircrafts which it would receive in March- April this year. The new order which has not been finalized was placed in “late 2006”. However, Jet Airways informed the Mumbai Stock Exchange about the deal but did not disclose any financial information. Under the new deal, Jet Airways have the option to ask for substitutes.

Now days, large number of Indians are going abroad either for job, travel or study. As a result, the airlines’ businesses are growing leaps and bounds. According to the report published in Reuters, Jet Airways is expecting a large portion of its revenue from international flights by 2009. Boeing Corporation also forecasted that to meet the demands of the people, India would need 856 new aeroplanes in the next 20 years. This shows, how the Indian traveling market. This is very good news in this New Year. Expansion of business means more money, more people and more jobs. Wish India a happy air journey.

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Earth Times

Reuters

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