Mumbai-based full-service carrier Jet Airways has announced a 25-40 per cent cut in business class fares for destinations ranging from London, New York and Toronto to Singapore, Bangkok, Hong Kong and Gulf countries.

The airline has introduced a special Mumbai-London and Delhi-London first class base fare at Rs 2 lakh per person, down from Rs 2,72,000.

The business class fare on the above two routes stands at Rs 75,000, down from Rs 85,000 earlier. Apart from that, there are special fares ranging between Rs 90,000 and Rs 1 lakh on offer for destinations such as New York and Toronto. Special business class base fares to the Asean destinations, including Singapore, Hong Kong and Bangkok range around Rs 17,000, while offer for couples to the Gulf destinations stands at around Rs 20,000 per person, down from Rs 34,000.

The airline has also introduced special business class fares on its domestic routes which are 30-35 per cent lower.

Its three-day apex fares range from Rs 7,900 to Rs 8,100 (one way), five-day apex fares range from Rs 6,500 to Rs 11,500, and seven-day apex fares from Rs 4,500 to Rs 17,500, depending on the sector.

The airline has been getting better yields from its international operations than domestic. Significantly, Jet's revenues from international operations in the third quarter of the current fiscal were almost double that of their domestic revenues and accounted for 56 per cent of their overall passenger and cargo revenue.

While their losses from domestic operations increased nine times to Rs 130.7 crore from Rs 14.4 crore year on year, their international operations losses remained stable.