According to a PTI report, Jet Airways is still in talks with Kingfisher Airlines for code sharing and other initiatives to achieve operational synergies and reduce costs. In October 2008, the two carriers had announced strategic alliance to help reduce cost and enhance efficiency through code sharing on domestic and international flights, joint fuel management, common ground-handling services and cross-selling flights through the global ticketing system.
On Jet Airways plans to raise USD 400 million (about Rs 2,000 crore) through Qualified Institutional Placement (QIP) of shares, Naresh Goyal, Chairman, Jet Airways said, “We have applied to Foreign Investment Promotion Board (FIPB) for approval. We are waiting for the approval.” Jet Airways had taken shareholders' approval for raising the amount through QIP to meet cash flow requirements.
Goyal recently met Anand Sharma, Minister of Commerce and Industry in New Delhi on the backdrop of the aviation industry's demand that foreign carriers be allowed to pick up stake in domestic airlines. |