Jet Airways, India's largest private sector airline, seems to have a penchant for announcements at the start of a calendar year. This time last year the carrier got permission to fly international routes, making the hitherto purely domestic airline a global player.
And on January 19 Jet Airways and Air Sahara issued a joint announcement that the former had acquired the latter for an all cash consideration of Rs23 billion $500 million. It is estimated that the Jet-Sahara combine will have a fleet of 77 aircraft and a fiscal 2005-06 turnover of more than Rs70 billion Jet announced a first six months turnover of Rs27 billion suggesting full year's revenues...
