Jet Airways

Jet Airways was incorporated on April 1, 1992 as a private company
 with limited liability under the Companies Act. We commenced
 operations as an Air Taxi Operator on May 5, 1993 with a fleet of
 four leased Boeing 737 aircraft. We were granted scheduled airline
 status on January 14, 1995. Jet Airways became a deemed public
 company on July 1, 1996. On January 19, 2001, Jet Airways was
 reconverted into a private company. Jet Airways became a public
 company on December 28, 2004.  
 
 At the time of incorporation of the Company, our shareholders were
 Mr. P.V.V. Chalam and Mrs. Anita Goyal. These shares were transferred
 to Tail Winds on May 12, 1994, and Mr. Naresh Goyal holds them on
 behalf of Tail Winds in terms of an RBI approval letter No. EC.BY.CO
 (S) 250/2251/TS/93/94 dated December 30, 1993. 
 
 Pursuant to an application dated March 12, 1993 made by our Company,
 the FIPB by its letter No. 267/FC/93/NRI dated June 28, 1993 granted
 its approval to the foreign collabouration proposal for investment in
 Tail Winds in the proportion of 60% by Mr. Naresh Goyal, 20% by Gulf
 Air and 20% by Kuwait Airways. Tail Winds in turn held 100% of the
 Equity Share capital of our Company.  
 
 The MoCA by its letter dated April 17, 1997 directed the Company to
 take steps for disinvestment of Equity Shares held, directly or
 indirectly, by foreign airlines pursuant to the Government of India's
 policy on foreign equity and NRI/OCB equity participation in the
 domestic air transport services sector. Consequently, with effect
 from October 15, 1997, Mr. Naresh Goyal acquired the 20% Equity
 Shares from each of Gulf Air and Kuwait Airways, respectively, and
 became the 100% owner of Tail Winds which is an NRI/OCB and currently
 owns over 99.99% of our Equity Share capital.  
 
 We currently provide regular scheduled services to 42 destinations in
 India and two destinations outside India, operating 1,924 flights
 weekly. Our aircraft fleet has grown from four aircraft in 1993 to
 currently 42 aircraft comprising 34 Boeing 737 aircraft and eight ATR
 72-500 aircraft. 		
 		
 2004
 
 -South African Airways ties up with Jet Airways
 
 2005
 
 -Jet Airways Limited has filed its draft Red Herring Prospectus with
 the Securities and Exchange Board of India (Sebi) to enter the
 capital market with its initial public offering. The company will
 offer 17,266,801 (1.72 crore shares) equity shares of Rs 10 each for
 cash at a price to be decided through the book-building process. It
 is learnt that the value of each share will be Rs 870. The IPO
 proceeds will essentially be used to fund its international expansion
 plans.
 
 - The price band of Jet Airways' IPO has been fixed between Rs 950
 and Rs 1,125. The issue opens for bids on February 18 and closes on
 February 24. The total offer is for 1,72,66,801 equity shares of Rs
 10 each for cash at a premium to be decided through a book-building
 process
 
 - Jet Airways IPO was subscribed 4.25 times on the first day of the
 offer. At 7:50 pm, a total of 7.32 crore bids were received on the
 first day. FIIs accounted for 69.93 per cent of the total issue and
 mutual funds accounted for 28.69 per cent of the total. Insurance
 companies accounted for 0.61 per cent of the total bids and FIs for
 0.36 per cent.
 
 -Jet Airways signs lease agreement with South African Airways
 
 - Jet Airways launches its first inter-continental flight by linking
 Mumbai with London Heathrow by a non-stop day flight here on May 23,
 2005.
 
 -Jet Airways executes purchase agreement with The Boeing Company,
 USA
 
 -Jet Airways introduce an Inflight Safety Manual in Braille
 
 -Jet Airways signs pact with Gulf Air
 
 -Jet Airways wins Avaya GlobalConnect Customer Responsiveness Award
 
 2006
 
 -Jet Airways has signed a special code sharing (SPA) agreement with
 American Airlines, the world's largest carrier, for India-US
 flights.
 
 2007
 - Jet Airways India Ltd has signed the Memorandum of Understanding
 (MoU) with Lufthansa Technik AG, Germany for A330/B777 Component
 Works, Personnel Assignment Services and Maintenance Management
 Services.
 
 - Jet Airways inks 8mn aircraft lease agreement.
 
 -Jet Airways India Ltd announces the introduction of its first flight
 from Chennai to Toronto, via its hub in Brussels.