Jet Airways will embark on a major fleet expansion programme to achieve a revenue of $3 billion by 2009-10, by when its international operations are expected to account for 50 per cent of the revenue.
According to estimates, to add about 32 aircraft the fleet the cost is $2.5 billion. The total fleet strength is expected to touch 80 plus by 2009.
Addressing a press conference in Singapore in connection with launch of its daily flight services between Chennai and Singapore, Peter Luethi, chief operating officer, Jet Airways (India) Ltd, said the airline was aiming to be a $3 billion company by 2009-10.
The focus will be on reliability in operations, consistency for its service delivery and creating shareholder value. Its revenue for 2004-05 was close to a billion dollars.
He said the board has given its nod to purchase 12 Boeing 737s for the domestic network in the next 24 months besides giving approval for buying 12 A-330s and 10 Boeing 777s.
The company hopes to become an international carrier with a strong base in India. The international operations are expected to account for 50 per cent of the revenue by 2009-10.
However, Luethi stressed that Jet Airways will remain in the domestic network and continue to maintain the leadership in the domestic market.
He said the airline was able to manage growth by outsourcing some of the expensive elements like IT and technical services.
The domestic fleet expansion will strengthen the frequencies between metros and also focus on the areas that are clearly identified as tourism spots, he said, adding that the airline had removed complicated tariff structure and was offering competitive rates for the domestic market.
Elaborating on its plans to link more new international destinations, he said that the airline was planning to launch its third service to the UK during May-June next year. Plans to launch services to Brussels, Germany, France and the US were also in the pipeline, he said.
This correspondent's trip was sponsored by Jet Airways.