Company Watch - Jet Airways.

Jun 25, 2007

India's Jet Airways will consider a rights equity issue on June 26 to raise up to USD$400 million as it seeks to expand overseas and re-haul a recent acquisition. Jet, which has nearly a third of the Indian market, is launching more overseas routes in the face of growing competition in the fast-expanding domestic aviation market. An estimated 35 million domestic passengers took to the skies in the fiscal year to March 2007, an increase of 39 percent from the previous year, on the back of cheap fares and new flights. The market is forecast to expand at more than 20 percent a year to 2010. Jun 19, 2007

Jet Airways operates the 777-300ER on a Mumbai - London route. On Sunday August 5, the 14-year-old airline will become the first private airline flying from India to the United States, operating the Boeing 777-300ER via Brussels - its newly created European hub. The inaugural service will be Mumbai - Brussels - New York Newark. Via Brussels, Jet Airways will launch future daily international services from Ahmedabad, Bangalore, Chennai and Delhi to Chicago, Los Angeles, New York and Toronto. Daily Services to San Francisco via Shanghai are also planned. Jun 18, 2007

Jet Airways , which acquired domestic carrier Air Sahara in April for INR14.5 billion rupees (USD$356 million), has said it would raise up to USD$400 million for its international expansion and aircraft acquisition plans, as well as to overhaul Sahara. Sahara, now named JetLite, operates as a discount carrier. Jun 19, 2007

Jet Airways Orders 13 ATR 72-500 Aircraft. ATR, a joint venture of EADS and Italian group Finmeccanica, announced an order for 13 ATR 72-500s to be operated by Jet Airways. An agreement for six of the planes has been reached with Irish-based leasing company Aircraft International Renting, a unit of TAT Leasing, ATR said at the Paris air show on Wednesday. Jet Airways has concluded purchase agreements for the remaining seven planes and plans to conclude lease agreements for these aircraft too. The total value of the contracts is about USD$238 million, ATR said. Jun 20, 2007

Displaying its new livery, Jet Airways' latest Boeing 777-300ER arrived Saturday at Le Bourget Airport ahead of June 18 opening of the 47th Paris Air Show. The aircraft's colors aren't the only change for India's largest private airline. Jet Airways' 777-300ER is fitted with an innovative interior, including newly created first class suites with premiere amenities. Each of the first class suites offers nearly 26 sq. ft (2.4 sq. m) of usable space that can be closed off with sliding doors. The suites feature a 23-inch flat-screen monitor, storage areas that include a personal hanging wardrobe and a 6' 11" (2.1m) flat bed. With a business-jet style table, two can dine comfortably in the suite. The twin-engine 777-300ER, one of 10 777s Jet Airways has ordered, is configured in three classes, including eight first class suites, 30 Premiere seats and 274 economy seats. Jun 18, 2007

JetBlue Airways yesterday released second-quarter guidance that featured a lift in its estimated pre-tax margin to 4%-6% from the 3%-5% forecast when it unveiled its first-quarter results two months ago. Full-year pre-tax margin still is expected to be 1%-3%, a figure reduced from 2%-4% following a $22 million first-quarter loss. Operating margin in the current quarter is expected to be 9%-11%, with full-year coming in at 5%-7%. Passenger RASM is projected to improve 5%-7% over the year-ago quarter and 7%-9% for the year, figures JetBlue said would be affected by the decision to remove a row of seats in each of its A320s. Unit cost is expected to increase 4%-6% in the second quarter and 7%-9% in the full year. The former represents a drop from April's projection of a 6%-8% increase. Nonfuel CASM also will rise more slowly than originally expected, by 3%-5% rather than 5%-7%. It is expected to increase 6%-8% for the full year. Jun 21, 2007

JetBlue Airways outlined its hedge position. It is 65% hedged for the current quarter, during which it expects to use 73 million gal. of fuel at an estimated per-gal. price of $2.01. It is 45% hedged for the third quarter and 35% for the fourth. By year end it forecasts consumption of 448 million gal. at an average price of $2.07. Jun 21, 2007

JetBlue Sees Q2 Revenue Up 5-7 Percent JetBlue Airways said on Wednesday it expects its passenger revenue to increase by 5 percent to 7 percent in the second quarter and by 7 percent to 9 percent for all of 2007. Jun 20, 2007

JetBlue Tops J.D. Power Passenger Survey JetBlue Airways earned the highest marks among among low-cost airlines in North American, according to a J.D. Power survey released today that measures carrier performance in seven areas, including cost, inflight service, aircraft and reservations. Jun 19, 2007

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