Dubai: India’s Jet Airways is generating more revenue and passengers for Etihad Airways than any other airline the Abu Dhabi carrier holds stakes in.
Etihad purchased a 24 per cent stake in Jet Airways for $379 million (Dh1.4 billion) in 2013. It also injected $220 million and spent a further $150 million purchasing a majority stake in the airlines frequent flyer programme.
“Jet Airways is now our number one equity partner for revenue and passenger contribution on Etihad Airways. India is now Abu Dhabi’s number one source market for international visitors,” Etihad President and Chief Executive, James Hogan, said in an emailed joint statement from Etihad and Jet Airways on Friday.
Etihad owns stakes in seven other airlines including Italy’s Alitalia, Virgin Australia and Ireland’s Aer Lingus.
In the first half of the year, Jet Airways transferred 182,000 passengers onto Etihad’s network while Etihad transferred over 235,000 passengers the other way, the airlines said.
Jet Airways’ revenue contribution was not stated.
The two airlines now control 21 per cent of the Indian market and offer a combined 40,000 weekly seats between Abu Dhabi and India, according to the statement.
On Friday, Jet Airways reported a 2.21 billion rupees ($33.80 million) profit for the quarter ending June 30, compared with a loss of 2.18 billion rupees the same quarter last year.
