Jet Air up 10% on Emirates renewing agreement

Moneycontrol Bureau

Shares of Jet Airways climbed 10% to Rs 616.40 after Emirates Airlines, in a statement said that it has renewed and expanded its partnership with the former.
With this partnership, Emirates customers will have the option to travel on its five daily direct flights as well as on the Jet Airways daily service between Mumbai and Dubai, says a statement from Emirates, according to a report in Mint newspaper.
Jet Airways' flights on these sectors will be identified with its 9W code as well as the Emirates EK code. Emirates currently operates 35 flights a week to and from the city, connecting 126 destinations in 74 countries via Dubai.
The development is definitely a positive one for Jet which is fighting it out on the sector with not only a dozen global carriers which fly to Dubai from Mumbai, but also Indian carriers like Air India. India-Gulf sector is considered very lucrative for carriers operating on this sector. According to rough estimates, traffic on the sector is growing over 10% annually and during peak seasons demand exceeds supply. Jet Air has been registering over 90% load factors on the route and  at times cannot cater to ever increasing demand due to its flights going full on the sector.
Emirates is keen to tap the vast Indian market and funneling such traffic over its hubs to various destinations in the US, the UK, Europe and elsewhere.
Earlier this week, Jet has also expanded its codeshare agreement with the United Arab Emirates' Etihad Airways to include flights operating from Abu Dhabi to Charles de-Gaulle airport in Paris. The codeshare, which came into effect on December 10, will enable Jet Airways to provide better connectivity to its customers on flights from Abu Dhabi to Paris, Jet had said in a statement.