Jet Airways was the largest commercial passenger airline in India with a passenger market share of 22. 6%. It dropped to second place behind IndiGo in October 2017. The airline was granted a scheduled airline status on 14 January 1995. In 1996, the airline placed a USD 375 million order for four 737-400 and six 737-800 aircraft from Boeing.
About Jet Airways in brief
Jet Airways was the largest commercial passenger airline in India with a passenger market share of 22. 6%. It dropped to second place behind IndiGo in October 2017. The airline was granted a scheduled airline status on 14 January 1995. In 1996, the airline placed a USD 375 million order for four 737-400 and six 737-800 aircraft from Boeing, which were delivered between 1997 and 2000. In 2003, the Indian government decided to allow private carriers to operate international services to countries in south Asia, such as Bangladesh, Nepal, and Sri Lanka. In January 2006, Jet Airways announced its intention to acquire Air Sahara for US$500 million in an all-cash deal; however, the deal fell through in June 2006. On 16 April 2007, Air Sahara and Jet Airways agreed to pay ₹14. 5 billion. In August 2008, JetLite became a wholly owned subsidiary of Jet Airways. In October 2008,Jet Airways laid off 1,900 of its employees, who were later re-instated due to intervention from the Ministry of Civil Aviation. Jet Airways entered into an alliance with low-cost rival Kingfisher Airlines in May 2009, sharing crew and ground equipment on domestic and international flights. It has halted operations since 17042019. It was the only other full-service airline of India apart from Air India. The company was listed on the Bombay Stock Exchange and became public company on 28 December 2004. In the financial year 1996–97, it carried 2.4 million passengers and had a market share of 20 percent, second highest after state-owned Indian Airlines.
In May 2005, the company started its first international, long-haul flight to London in May 2005 with two-class Airbus A340-300s sub-leased from South African Airways. The deal was postponed due to the airline’s financial difficulties and eventually fell through. It is now marketed as Jet Air, a joint venture between Air India and Air France-KLM, with a track record of more than 20 years of successful operations. It also has its own brand of airline called Jet Airways, which is based in Mumbai and has a fleet of 30 Boeing 737 aircraft. It operates over 195 flights daily to 37 destinations within India. It suffered losses for the first time since its establishment in financial year 2001–2002 as demand fell and costs increased. In March 2004, the government had announced that privately owned scheduled carriers meeting certain criteria could operate to all countries apart from those in the Middle East. In April 2005, it was granted rights to Jet Airways to operate services to London Heathrow. In July 2006, it announced its plans to integrate Jet Airways into Jet Lite, a wholly-owned subsidiary of Air Sahara. In September 2008, it launched another low- cost brand, Jet Konnect, to share ground equipment and crew handling and ground handling equipment on international and frequent-flyer flights. In November 2008, the two airlines agreed to share a code-sharing program.