Jet Airways gains after launching daily non-stop services to Amsterdam

Jet Airways (India) rose 1.35% to Rs 577.35 at 10:45 IST on BSE after the company announced the launch of daily non-stop services between India and Amsterdam.

The announcement was made after market hours yesterday, 14 December 2015.

Meanwhile, the BSE Sensex was down 31.81 points, or 0.13%, to 25,118.54.

On BSE, so far 2.06 lakh shares were traded in the counter, compared with an average volume of 10.47 lakh shares in the past one quarter.

The stock hit a high of Rs 582 and a low of Rs 574 so far during the day. The stock had hit a 52-week high of Rs 592 on 8 December 2015. The stock had hit a 52-week low of Rs 248.50 on 16 June 2015.

The stock had outperformed the market over the past one month till 14 December 2015, rising 31.13% compared with 1.8% fall in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 71.94% as against Sensex's 2.73% decline.

The mid-cap airline company has an equity capital of Rs 113.60 crore. Face value per share is Rs 10.

Jet Airways (India) said that Amsterdam will be the company's next European gateway, which is ideally located for convenient onward connections. With effect from 27 March 2016, it will operate two daily non-stop flights to Amsterdam Airport Schiphol, one each from its home hubs in Mumbai and New Delhi. Jet Airways will also operate a daily flight from Toronto to Amsterdam. Schedules of all three flights have been planned to allow quick and convenient connections between India and Toronto over Amsterdam, Jet Airways (India) said in a statement. These flights will be available for sale across all booking channels from 15 December 2015. Jet Airways will deploy its modern Airbus A330-300 aircraft with 34 seats in Premiere and 259 seats in Economy class on these routes.

With the objective of providing convenient connections for its guests to key destinations across Europe and North America over Amsterdam, the company has entered into a strategic agreement with KLM Royal Dutch Airlines and Delta Air lines.

Jet Airways (India)'s net profit rose 25.5% to Rs 87.59 crore on 10.3% rise in net sales to Rs 4855.56 crore in Q2 September 2015 over Q2 September 2014.

Powered by Capital Market - Live News