Jet Airways keen on more US links

By agencies   |   Monday, 14 March 2005, 20:30 IST
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MUMBAI:India's largest private sector airlines Jet Airways plans to operate flights to Chicago and San Francisco via Paris even as it negotiates with Continental Airlines and United Airlines for a tie-up. "We shall be starting flights from Mumbai to New York in two months time but on the long term are looking at operating flights to Chicago, San Francisco and Houston or Dallas", Jet CEO Woolfgang Prock-Schauer said here today. "We are looking for more aircraft, either A340 or Boeing 777s for operations via Paris instead of Brussels by winter," he said adding "we are also talking to Continental and United for a tie-up in the US". Jet Chairman Naresh Goyal said, "We are carrying out studies for long haul aircraft and come up with a firm plan shortly. Both Airbus (A340s) and Boeing (777s and 787s) are in the race for the fleet plan. "As part of our expansion plans, we are firming up to take more aircraft on lease in the next few weeks," he added. Prock-Schauer said the airline would be taking seven new generation Boeing 737s on lease for domestic operations and purchase 10 more next year for deliveries till 2007 end. Meanwhile Jet Airways became the first private airlines to list in the National Stock Exchange. The scrip was today listed on the National Stock Exchange (NSE) and the first trade was struck at Rs 1428, at premium to the issue price of Rs 1,100 per share. The first trade for 4000 shares was struck at Rs 1428 per share, NSE official said today after listing ceremony here. The private airline, which had floated an IPO for 1.72 crore shares of Rs 10 each, constituting 20 per cent of the post issue capital, had raised Rs 1,899 crore. The part of proceeds of IPO would be used to retire some high cost debt. The IPO received 4.47 lakh bids for 27.75 crore shares, resulting in oversubscription of 16.08 times the issue size.