Background of the Company
Jet Airways was incorporated as an "air taxi" operator on 1 April 1992. It started commercial airline operations on 5 May 1993 with a fleet of 4 Boeing 737-300 aircraft, with 24 daily flights serving 12 destinations.
In 1991, the late P.V. Narasimha Rao, Prime Minister of India at the time, introduced an
"open skies" policy as part of India's economic liberalisation. This opened doors for privately owned "air taxi" operators to start scheduled services. Naresh Goyal, who already owned JetAir (Private) Limited (which provided sales and marketing for foreign airlines in India) took advantage of this opportunity by setting up Jet Airways as a fullservice scheduled airline that would give competition to state-owned Indian Airlines.
Indian Airlines had enjoyed a monopoly in the domestic market between 1953, when all major Indian air transport providers were nationalised under the Air Corporations Act
(1953), and January 1994, when the Air Corporations Act was repealed, following which
Jet Airways received scheduled airline status.
Jet Airways’ 45 destinations include most of the big cities in India. International destinations include Kathmandu, Colombo, Singapore, Kuala Lumpur, London's
Heathrow Airport, Bangkok, Brussels and Newark. Jet Airways was the first private airline in India to fly to international destinations. It started international operations in
March 2004 between Chennai and Colombo after it had been cleared by the Government of India to operate scheduled services to international destinations.
MACRO ENVIRONMENT FACTORS:
Economic environment of India and world affects the airline industry to a great extent.
Factors like fluctuations in global fuel prices, exchange rates, slowdown etc have varying impact on the way Jet Airways has been operating in this sector.
One of the most important aspect that has greatly affected the world's transportation system is the