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Jet Airways > Company History > Transport & Logistics > Company History of Jet Airways - BSE: 532617, NSE: JETAIRWAYS
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Jet Airways

BSE: 532617|NSE: JETAIRWAYS|ISIN: INE802G01018|SECTOR: Transport & Logistics
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Company History - 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
 
 -Jet Airways inks pact with Hertz India to offer new services
 
 -Jet Air announces launch of 'check fares' scheme
 
 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.
 
 -Jet Airways signs contract with CAE for Boeing 777 & Airbus A330
 simulators
 
 -Jet Airways wins three Avion global Awards for In-flight
 Entertainment
 
 -Jet Airways to buy Sahara for 0 mn in cash
 
 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.
 
 -Jet Airways signs MoU with Lufthansa Technik AG, Germany
 
 -Jet Airways wins Most Innovative Product Launch Award for its 'First
 Class' Suites onboard its Boeing 777-300ER
 
 2008
 
 - Jet Airways has launched daily direct flights between Mumbai and
 Bangkok with effect from May 14.This will be its third service to
 Bangkok from the country, a press release stated. The air-carrier
 already operates daily services to Bangkok from Delhi and Kolkata
 respectively.
 
 -Jet Airways India Ltd has appointed Ms. Monica Chopra as the Company
 Secretary with effect from October 01, 2008.
 
 - Jet Airways India Ltd has won the 2008 Galileo Express Travelworld
 Best Domestic Full Service Airline Award for the sixth year in a row
 
 -Jet Airways wins the Best Cargo Airline of Central Asia Award
 
 -Jet Airways Wins the 2008 Galileo Express Traveworld 'Best Domestic
 Full Service Airline' Award for the sixth year in a row
 
 2009
 
 -Jet Airways introduces Jet Airways Konnect a new All Economy
 No-Frills services
 
 
 2010
 
 - IBM has inked a 10-year business transformation and information
 technology (IT) services deal worth  million with Jet Airways.
 
 2011
 
 - CNBC awards Jet Airways as “Best domestic Airlines&rdq.
 
 - Jet Airways - Jet Airways Takes Delivery of 100th Aircraft.
 
 - Jet Airways - Jet Airways declared Best Domestic Airline.
 
 - Jet Airways (India) Ltd has informed BSE regarding a Press Release
 dated January 28, 2011 titled Jet Airways wins prestigious customer
 and brand loyalty award 2011
 
 - Jet Airways (India) Ltd has informed BSE regarding a Press Release
 dated April 19, 2011 titled Jet Airways conferred Air Cargo Award of
 Excellence 2011 by Air Cargo World Magazine.
 
 - Jet Airways (India) Ltd has informed BSE regarding a Press Release
 dated October 14, 2011 titled Jet Airways conferred 3 prestigious
 awards at the Times Travel Honours 2011.
 
 -Registered Office of the Company has been shifted to Siroya Centre
 Sahar Airport Road,Andheri - (East) Mumbai -400 099
 
 2012
 
 - Jet Airways (India) Ltd has informed BSE regarding a Press Release
 dated August 27, 2012 titled Jet Airways and ICICI bank launch
 Co-branded credit cards Exclusive Travel and Lifestyle benefits await
 the Country's Frequent Flyers.
 
 - Jet Airways (India) Ltd has informed BSE regarding a Press Release
 dated February 02, 2012, titled Jet Airways Declared Favourite
 Full-Service Airline At The Outlook Traveller Awards 2011.
 
 - Jet Airways (India) Ltd has informed BSE regarding a Press Release
 dated February 03, 2012, titled Jet Airways Declared Winner For
 Customer & Brand Loyalty In Domestic Commercial Airlines Sector.
 
 - Jet Airways (India) Ltd has informed BSE regarding a Press Release
 dated March 22, 2012, titled Jet Airways Rated best on time Performer
 amongst scheduled Domestic Airlines in February 2012.
 
 - Jet Airways (India) Ltd today said it, in a meeting held on May 24,
 2012, appointed Gaurang Shetty as an Additional Director and Manager
 of the Company with effect from today only.
 
 - Jet Airways (India) Ltd has informed BSE regarding a Press Release
 dated January 09, 2012 titled Jet Airways wins Prestigious NDTV
 Profit Business Leadership Award 2011.
 
 2013
 -Jet Airways Jetprivilege Inks Partership with the Mobile Store.
 -Jet  Airways and HDFC Bank join hands to launch JetPrivilege-HDFC
 Bank World Debit Card.
 -Jet Airways enters into a Reciprocal Frequent Flyer partnership with
 Air New Zealand.
 -Jet Airways launches daily direct flight from Mumbai to Singapore
 
 2014
 -Jet Airways Launches Daily Direct Service From Mumbai To Paris
 -Jet Airways Wins Prestigious ICC Supply Chain and Logistics
 Excellence Awards 2014.
 -Jet Airways Launches Inaugural Service between Mumbai and Paris
 -Jet Airways Jetprivilege Programme wins double honours at the
 prestigious CNN Flyertalk Awards 2014.
 -Jet Airways wins Best Domestic Airline award 2014.
 
 2015
 - Jet Airways designated as the Official Airline Partner for the
 Vibrant Gujarat Summit 2015.
 - Jet Airways designated as the Official Airline Partner for the
 Vibrant Gujarat Summit 2015.
 - Jet Airways bags Henry Spira Humane Corporate Progress Award
 - Jet Airways to launch daily flights to Amsterdam from Mumbai, Delhi
 and Toranto.
 - Jet Airways launches non-stop services b/w India, Amsterdam.
 
 2017
 -Jet Airways introduces pre-paid pass for travellers
 -Jet Airways and app-based cab aggregator Uber have joined hands to
 provide first and last mile connectivity to air travellers.
 -Jet Airways signs MoU with Aeromexico for codeshare flights
 -Jet Airways signs cooperation agreement with Air France-KLM
 
Source : Dion Global Solutions Limited
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