Jet Airways (India) rose 4.32% to Rs 276.80 at 14:46 IST on BSE after the company said it will launch a daily direct flight service from Mumbai to Paris with effect from 14 May 2014, subject to government approvals.
The company made the announcement after trading hours on Monday, 20 January 2014.
Meanwhile, the BSE Sensex was up 35.41 points, or 0.17%, to 21,240.46.
On BSE, so far 5.17 lakh shares were traded in the counter, compared with an average volume of 4.25 lakh shares in the past one quarter.
The stock hit a high of Rs 282.40 and a low of Rs 267 so far during the day. The stock hit a 52-week high of Rs 688.60 on 25 April 2013. The stock hit a 52-week low of Rs 260.35 on 16 December 2013.
The stock had underperformed the market over the past one month till 20 January 2014, sliding 3.58% compared with the Sensex's 0.59% rise. The scrip had also underperformed the market in past one quarter, falling 23.73% as against Sensex's 1.54% rise.
The mid-cap company has an equity capital of Rs 113.60 crore. Face value per share is Rs 10.
This new flight from India's financial capital Mumbai, to Paris, the world's most popular tourist destination, will be operated by wide-body Airbus A330 aircraft, Jet Airways said.
Jet Airways flight 9W 124 will depart from Mumbai's brand new Chhatrapati Shivaji International Airport, T2 at 1200 hrs and arrive at Paris' Charles de Gaulle airport at 1750 hrs. The return flight 9W 123 will depart Paris at 2110 hrs (LT) and arrive Mumbai at 0945 hrs the following day thus providing a seamless connection to the airline's entire network within India. Moreover, the return Jet Airways flight from Paris to Mumbai will make it the only evening departure from continental Europe to Mumbai, Jet Airways said.
Paris will be the airline's twenty first international destination and will provide a key gateway point for travel to several destinations across Europe with Jet Airways' code share and interline partners, Jet Airways said.
To mark this important launch, Jet Airways has announced a special return Economy introductory fare of Rs 45,291 (including taxes) and return Premie introductory fare of Rs 1,53,315 (including taxes) for guests traveling from Mumbai to Paris. The regular fare on this sector would be: Economy Rs 62,040 and Premiere Rs 2,02,114 (inclusive of taxes). These fares available since 14 January 2014 have a travel validity commencing 14 May 2014. However, to avail of the attractive introductory fares, guests will need to book and purchase their tickets on or before 10 February 2014. In addition, JetPrivilege members can earn double miles on flights booked between 14 May and 13 June 2014.
Jet Airways will deploy an Airbus A330-200 aircraft on this route, with 18 Premiere seats that open up as flatbeds and 236 ergonomic Economy seats offering guests unmatched comfort. Guests traveling to Paris will experience the airline's famed in-flight service, its award-winning In-flight Entertainment (IFE) system, carefully selected menus offering a range of Indian and international options, along with the airline's warm and personalized hospitality, Jet Airways said.
Mr. Gaurang Shetty, Vice President Commercial, Jet Airways (India), said: "Jet Airways is delighted to launch its maiden service to Paris, one of the world's top destinations and a key gateway point for airline guests traveling travelling between India and France while they experience Jet Airways' hallmark in-flight service. By offering enhanced connections to several European cities from Paris with our code share partners, we are confident that this new flight would prove immensely popular with our guests. Furthermore, Jet Airways would be able to offer guests seamless travel between Europe and India, and onwards to SAARC destinations including Colombo, Dhaka and Kathmandu and vice versa."
Jet Airways (India) reported a net loss of Rs 894.01 crore in Q2 September 2013, higher than net loss of Rs 99.67 crore in Q2 September 2012. Net sales rose 0.9% to Rs 3788.23 crore in Q2 September 2013 over Q2 September 2012.
Jet Airways currently operates a fleet of 113 aircraft, which include 10 Boeing 777-300 ER aircraft, 8 Airbus A330-200 aircraft, 4 Airbus A330-300 aircraft, 73 next generations Boeing 737-700/800/900/900 ER aircraft and 15 ATR 72-500 and 3 ATR72-600. With an average fleet age of 5.07 years, the airline has one of the youngest fleet of aircraft in the world. Flights to 75 destinations span the length and breadth of India and beyond, including Abu Dhabi, Bahrain, Bangkok, Brussels, Colombo, Dammam, Dhaka, Doha, Dubai, Hong Kong, Jeddah, Kathmandu, Kuwait, London (Heathrow), Muscat, New York (Newark), Riyadh, Sharjah, Singapore and Toronto.
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