Company Watch - Jet Airways.
Jet Airways is to raise up to USD 400 million to meet its working capital requirements, according to India's Financial Times. Chairman Naresh Goyal said Jet last year deferred plans to raise funds via a rights issue owing to volatile market conditions. It had planned to launch the issue in October 2008 but deferred it until conditions improved. Goyal also said he would dilute 5 percent-10 percent of his personal stake in the company. He currently holds 80 percent. He told the paper that the airline is open to various sources of funding including banks or private equity placement. Sep 30, 2009
Jet Airways, IndiaOs premier international airline, launched its new Delhi-Hong Kong service, its second daily flight to Hong Kong from India, aboard a state-of-the-art, wide-body Airbus 330-200 aircraft. The airline marked the occasion with a small inaugural ceremony at the Indira Gandhi International Airport, Delhi, in the presence of senior company officials. Jet Airways will also flag off its inaugural flight to Delhi from Hong Kong on October 1, 2009, China National Day, the anniversary of the founding of the People's Republic of China in 1949. The new daily flights will facilitate business and leisure travel between the Indian capital and the commercial hub of the East, Hong Kong, and complement the airlineOs existing Mumbai-Hong Kong services. From September 30, 2009 to October 24, 2009 and from March 28, 2010 to October 30, 2010, flight 9W 72 departs Delhi at 2250 hours, arriving in Hong Kong at 0655 hours. Flight 9W 71 will then depart Hong Kong at 1330 hours, arriving in Delhi at 1650 hours. Sep 29, 2009
Jet Airways will launch twice-weekly Bangkok-Gaya-Varanasi service Oct. 6. Sep 29, 2009
JetBlue Airways, New York's hometown airline, today announces its first annual 'Swing for Good' Golf Classic at Bethpage State Park -- home of the 2009 U.S. Open -- benefiting two charitable partners: KaBOOM!, a not-for-profit organization that envisions a great place to play within walking distance of every child in America; and DoSomething, an organization that empowers young people to take action in their community around any cause. Former Major League Baseball players Mike Torrez and Tim Raines will be out on the links and Dwight Gooden will also be in attendance at the event. Sponsors of the game include Verizon Business, Airbus and Sabre Holdings, among others. The double shotgun will be played this Thursday, October 8 on two, 18-hole championship golf courses, including the "Red" course, featuring 6,756 yards of golf from the longest tees for a par of 71. Breakfast, registration and range begin at 8:30 a.m., with a Best Ball Shotgun Start at 10:00 a.m. The JetBlue Challenge Shootout will be played at 3:30 p.m., where four JetBlue Challenge closest to the pin finalists will have the chance to win $1 million and other great prizes for longest drive, straightest drive and much more throughout the day. The event will conclude at 4:00 p.m. with a dinner, awards ceremony, raffle and auction. Oct 7, 2009
JetBlue Airways is continuing its expansion into Latin America and the Caribbean by starting service to the island of Barbados. To celebrate the inaugural service, JetBlue is offering a special USD 99 sale fare each way for U.S. originating travel between New York and Barbados. Flights are on sale through Tuesday Oct. 6, for travel between Oct. 8 and Dec. 16, 2009. Black-out dates and other restrictions apply. For more information, visit www.jetblue.com. Oct 2, 2009
Lufthansa code-share flights from a dozen JetBlue cities in the U.S. and Puerto Rico are now available for sale at www.lufthansa.com. The code-share agreement, which was recently approved by the U.S. Department of Transportation (DOT), provides JetBlue customers with convenient connections to Lufthansa's worldwide network of over 400 destinations in 100 countries. JetBlue travelers will enjoy one-stop reservations and seamless baggage transfers on flights departing from Austin, Texas; Buffalo, N.Y.; Fort Lauderdale, Fla.; Fort Myers, Fla.; New Orleans, La.; Pittsburgh, Pa.; Raleigh/Durham, N.C.; Rochester, N.Y.; San Juan, Puerto Rico; Syracuse, N.Y.; Tampa, Fla.; and West Palm Beach, Fla. Travelers flying JetBlue from these cities will be able to connect via New York/JFK or Boston onto Lufthansa flights bound for Germany and beyond, including top cities like Delhi, Madrid, Rome, Tel Aviv and Zurich. Flights are bookable at www.lufthansa.com , via a link at www.jetblue.com, or through local and online travel agencies. Code-share operations will commence Nov. 11, 2009. For more information, visit www.jetblue.com. Oct 2, 2009
Verizon Business signed a six-year agreement with JetBlue Airways to manage the airline's IT data center and network needs as well as provide security and IT consulting services. A newly built IP-based voice and data network will support airport kiosks, wireless Internet access and an advanced reservation system. Terms of the deal were not disclosed. Oct 7, 2009
JetBlue Airways has signed a six-year agreement giving Verizon Business management of its data center, network infrastructure and help desk, the two companies announced today. Verizon Business, a unit of Verizon Communications, will design and manage a transition of existing JetBlue systems to a new global IT infrastructure that includes Internet Protocol voice and data to support airport kiosks, Wi-Fi access and an advanced reservation system. On Demand: Enterprise Database Security: Using strategy to make the most of your budget: View now JetBlue employs 12,000 workers and serves 58 cities in the U.S., Caribbean and central and South America. JetBlue CIO Joe Eng described the agreement with Verizon as a way to strengthen the airline's IT capabilities and prepare for future business. JetBlue employees currently assigned to IT infrastructure jobs will be allowed to take other roles in IT, other jobs in the company or transition to Verizon Business, Eng said in an interview. That IT group has fewer than 100 members, although a somewhat larger IT group will remain with JetBlue and continue work on business processes, capabilities and new functions. "This agreement is about Verizon management of IT infrastructure -- the network, data center and help desk -- ...to help reduce the cycle time for delivery of those capabilities and allow the rest of IT to focus on other capabilities," he said. Eng described the agreement as "sizable" in monetary terms, and said it will bring some financial benefits over doing the work internally, even though cost cutting was not the primary objective. The changes to the data centers will create more resiliency, but also allow them to scale as JetBlue continues to grow. Eng, who arrived at JetBlue 18 months ago, said he recommended the Verizon agreement to JetBlue's upper management. He based the decision on his notion that JetBlue should buy IT capabilities rather than build them internally and use broad platforms of technology instead of handpicking "best-of-breed" approaches. Oct 6, 2009
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