 "Jet helps Etihad record 63% rise in traffic in 2015")
Riding on the back ofpartnership with Jet Airways, Gulf-based airline Etihad Airways recorded agrowth of 63% rise in passenger traffic in calendar year of 2015. In 2015, Jet-Etihad partnership carried a total 3.3 million passengers between Etihad Airways' Abu Dhabi hub and India in 2015, as compared to 2 million flown during the previous 12 months.
Before the deal, Etihad used to carry 2% of international traffic to and from India. "Together, both carriers are the market leader in terms of travel between India and the UAE. In terms of the overall international market, they fly between them approximately 20% of all worldwide travellers to and from India representing a large share of the country's booming air travel industry," Etihad said in a release.
The two airlines signed a deal in April, 2014 for for equity infusion by Etihad, loan gurantees, purchase of Jet's slots at London Heathrow airport, investments in Jet's frequent flyer programme and co-operation in commercial, engineering and operational areas. The Rs 2,057 crore investment for a 24% in Jet concluded in November 2013 and the Rs 900 crore investment in Jet's frequent flyer programme was completed in March, 2015.
"Today, Jet Airways is our number one equity partner for revenue and passenger contribution on Etihad Airways, and India is Abu Dhabi's number one sourcemarket for international visitors," James Hogan, Etihad Airways' President and Chief Executive Officer said.
"We have helped bring Jet Airways back toprofitability and it is our number one equity partner," Hogan added. Whilethe industry feared that the partnership will lead Jet become a feeder airlinefor Etihad, Jet Airways flow of international traffic also grew simultaneously.According to data from DGCA, Jet Airways carried 7.07 million flyers in and out of India in 2015 - up 27% from previous year's figure of 5.56 million.
"If you look at transfer traffic,Etihad gives us more business than what we give to them," Cramer Ball, the outgoing CEO of Jet Airways said in an interview recently.
