Jet plans $2.4 bn fleet purchase

Private sector airline Jet Airways (India) is planning to acquire 30 aircraft for $2.4 billion over three years to cover new international destinations.

Chairman Naresh Goyal said orders have been placed for 10 737-400/800/900 aircraft, 10 Boeing 777 aircraft and 10 Airbus 330 aircraft for longer haul destinations. "The estimated cost of fleet acquisition is over $2.4 billion and the delivery of 737 aircraft will begin from January 2006, while white-bodied 777 and 330 aircraft will start from early 2007," Goyal said.

Jet would additionally lease two new Airbus 330 for its international operations. Goyal said the airline was focusing on expanding its international network and expecting 50 per cent revenue from overseas by 2008.

"We are looking at global destinations including Nairobi, Kenya, Johannesburg, Durban, Cape Town, Rome, Milan, Zurich, Frankfurt, Paris, Vancouer, Chicago, Newark, JFK, Israel, Tehran, Bangkok and Hong Kong," Goyal said.

Referring to its the India-UK service, Goyal said Jet has gained 26 per cent market share in this route and more first class passengers from other airlines are opting Jet.