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India’s second largest carrier Jet Airways has put 20 lakh seats on sale at flat Rs 2250 for travel anytime till December 31, this year. Tickets for the same can be booked between 19-24 February.
India's second largest carrier Jet Airways has put 20 lakh seats on sale at flat Rs 2250 for travel anytime till December 31, this year. Tickets for the same can be booked between 19-24 February.
"Experience India's biggest air ticket sale with 20 lakh seats on over 450 daily flights across 57 cities within India," Jet Air said on its website. A few minutes after the announcement, the company's website crashed and remained unavailable for customers.
Fares which typically start at Rs 6,000-7,000 for one-way have been reduced to Rs 2,250 during sale period.
With this initiative, the airline is likely to improve cash flows by Rs 450 crore on account of advance bookings, which will be done on a massive scale. Travel agents assert that going by previous trends, there are atleast 30% cancellations by customers who indulge in impulsive buying only to cancel bookings later. As a policy, airlines do not refund amount on tickets purchased during offer period, they say.
Last month, rival carrier SpiceJet had announced sale of 10 lakh seats at Rs 2013 for travel between February and April after which the aviation regulator ordered other airlines to not follow suit as it would hurt their financials.
However, this time around Jet Air has doubled the number of seats.
IndiGo has also announced a similar discount on travel portals without elaborating sectors and validity of discounted seats.
Jet Airways stock price
On April 17, 2014, Jet Airways closed at Rs 279.90, up Rs 5.20, or 1.89 percent. The 52-week high of the share was Rs 688.60 and the 52-week low was Rs 210.25.
The latest book value of the company is Rs -27.75 per share. At current value, the price-to-book value of the company was -10.09.
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