Jet Airways appoints Gary Toomey new CEO
June 14, 2013 (PTI): Aviation industry veteran Gary Kenneth Toomey was today appointed by Jet
Airways as its new Chief Executive Officer (CEO), nearly two months after the airline's deal with Gulf carrier Etihad Airways.
The appointment followed the resignation of Nikos Kardassis on June
seven after he served two terms as CEO between 1993-1999 and again from
October 2009 till May 2013. Toomey, 58, an Australian national, has previously served as President
and CEO of the Air New Zealand Group and CEO of Airlines PNG in Papua New Guinea during periods of their major expansion.
Before this, he had served in various positions in Australian carrier
Qantas, including as a Director, Deputy CEO and Chief Financial Officer.
Soon after Kardassis resigned, Capt Hameed Ali was appointed as Acting
CEO to run the show till a full-time chief executive was appointed.
A Jet spokesperson said Ali would continue as Acting CEO till Toomey's
appointment received regulatory approval. In a statement, Jet chief Naresh Goyal said Kardassis had "made a
significant contribution to Jet Airways, particularly in the development
of our international network, laying the foundation for our future expansion."
Ever since Jet clinched a stake sale deal with Abu Dhabi -based Etihad
in April, whereby it agreed to sell 24 per cent stake for Rs 2,042
crore, the industry was abuzz with speculation that changes in the private carrier's leadership were in the offing.
India Approves AirAsia's Investment Proposal
NEW DELHI, March 7, 2013: India Wednesday approved a proposal by Malaysia's AirAsia BhD to initially invest
about 800 million rupees ($14.5 million) to start a budget airline in a joint venture with Tata Sons Ltd. and another local company.
The proposal was approved at a meeting of the Foreign Investment Promotion Board, Economic Affairs Secretary Arvind Mayaram told reporters.The FIPB is a panel of officials which examines foreign investment
proposals. Mr. Mayaram is its chairman. AirAsia, Southeast Asia's largest carrier by fleet size, and its local
partners will now have to seek approvals from the civil aviation ministry and other authorities to start the airline, Mr. Mayaram said.
According to the proposal, AirAsia is to own a 49% stake in the joint
venture. Tata Sons--which controls India's diversified Tata Group--would
hold a 30% stake and privately held Telestra Tradeplace Pvt. Ltd. the remaining 21%.
For India's Tata Group, the establishment of an airline will mark the culmination of years of efforts to reenter the aviation business.
J.R.D. Tata--the former Tata Group chairman who founded India's now-state-run carrier Air India--is
considered the father of civil aviation in India. The government nationalized Air India in 1953.
The group had aborted plans to reenter the sector at least twice since
early 1990s when India opened the sector for private investment. Ratan
Tata , its recently retired chairman, said in a 2011 interview that the aviation ministry
once held up his application for years despite his constant prodding. Mr.
Tata, the group's chairman emeritus since his retirement in December,
welcomed the FIPB decision Wednesday. Source: wsj.com
Sky-high fares slide as airlines launch price war
Mumbai, February 20, 2013: Air fares crashed on Tuesday as airlines rolled out never-before offers
to lure passengers and fill empty seats. Jet Airways kicked off the price war with a six-day sale
of 20 lakh seats over 450 flights across 57 domestic destinations. Go Air , IndiGo and Spice Jet also followed suit with unannounced cuts.
Under the offer, a Rs 8,000 one-way ticket from Mumbai to Delhi would cost just Rs 2,850. Similar discounts on other sectors are a welcome
relief for passengers who have seen fares soar for two years.
The offers, at the lowest possible base fare of Rs 1, have been
sweetened even more this year. Unlike in the past, passengers can now book low offers up to December 31. Till last year, such offers were
available up to, say, March 31 when the lean season ended, or at the most till July.
Sudheer Raghavan, chief commercial officer, Jet Airways, said the offer
will allow passengers to plan and schedule their travel much in advance,
especially during the holiday season, while benefiting from the special fares.
The Jet offer comes in four slabs based on distance. For instance,
one-way fares from Mumbai to Ahmedabad, Mangalore, Hyderabad, Nagpur or
Bhopal would be Rs, 2,250, taxes included. It would be Rs 3,300 to
Bengaluru, Raipur, Coimbatore or Jaipur; Rs 2,850 to Chandigarh, Delhi,
Bhubaneswar or Visakhapatnam; and Rs 3,800 to Kolkata. Similarly, the fare from Delhi to Jammu, Srinagar and Varanasi would be
Rs 2,250; Rs 2,850 to Ahmedabad, Patna or Raipur; Rs 3,300 to
Bengaluru, Kolkata, Hyderabad, Ranchi or Pune; and Rs 3,800 to Chennai, Bengaluru
or Guwahati. Not all bargain hunters may be lucky though as the inventory is limited,
and it is not known how many cheap seats are being released per flight. Source: The Times of India