Jet ties up with Air France-KLM on Europe routes

New Delhi, November 29: Jet Airways has finalised an agreement with Air France-KLM on India-Europe routes, providing a boost to its long-haul operations. The agreement signals its alignment with Air France-KLM and their partner airlines, Delta and Virgin Atlantic.

Jet Airways Chairman Naresh Goyal and Air France-KLM Chief Executive Officer JM Janaillac made a formal announcement at a news conference in Mumbai, India.

Naresh Goyal added that their relation with Etihad airways, an Air France rival will continue. Etihad Airways had bought 24% of Jet Airways in 2013 and Jet had increased feeds to Etihad’s hub in Abu Dhabi.

The agreement will help Jet Airways to effectively deploy its wide-body Boeing 777 aircraft and improve its profitability. It will also help the combine to challenge Gulf carriers and expand its market share in India’s international traffic.

Announcing the deal, Jean-Marc Janaillac, chairman and chief executive of Air France-KLM, said, “Air France-KLM and Jet Airways are launching the first cooperation agreement of its kind on the India-Europe market, one of the markets at the heart of the group’s strategy for the coming years.”

Naresh Goyal, chairman of Jet Airways, said “the enhanced cooperation agreement between Jet, Air France-KLM being signed during our 25th year and Air France’s 70 years in India, represents the next stage in our journey of offering greater choice, connectivity, and comfort across our combined global networks.”

Jet shares were trading 1.7 percent higher on Wednesday, while Air France-KLM shares were up 1 percent.
The Air France-KLM-Jet combine already operates 64 weekly flights between the Paris-Charles de Gaulle and Amsterdam-Schiphol hubs and New Delhi, Mumbai, Bengaluru and Chennai.

 

Edited by Navaneeth Chitradurga, with Agency Inputs.