Jet Airways flies higher on plan to extend code-share agreement with Etihad Airways

13 Mar 2013

Jet Airways (India) is currently trading at Rs. 580.40, up by 11.25 points or 1.98% from its previous closing of Rs. 569.15 on the BSE.

The scrip opened at Rs. 571.00 and has touched a high and low of Rs. 584.00 and Rs. 571.00 respectively. So far 238742 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 688.30 on 28-Jan-2013 and a 52 week low of Rs. 275.10 on 16-May-2012.

Last one week high and low of the scrip stood at Rs. 584.00 and Rs. 498.35 respectively. The current market cap of the company is Rs. 5018.60 crore.

The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 11.53% and 8.47% respectively.

Jet Airways is planning to extend its code-share agreement with Etihad Airways, the Abu Dhabi-based carrier to the Mumbai-Brussels-Newark route. The Naresh Goyal-owned carrier will also dry lease three of its Boeing 777s to the Turkish Airlines for a period of one year for which it has entered into an agreement.

Code-sharing allows an airline to book passengers on its partner carriers and provide seamless transport to multiple destinations where it has no presence.

Jet Airways, including its subsidiary Jet Konnect, currently operates a fleet of 16 ATR 72-500 and 1 ATR 72-600 aircraft, and will introduce an additional 4 new ATR 72-600 aircraft into its fleet. The airline has been operating ATR aircraft since 1999 and has covered its fleet with GMAs since the beginning of its partnership with ATR.

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