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Jet Airways announces 'India's biggest ticket sale', shares gain

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Jet Airways on Tuesday launched "India's biggest air ticket sale," an offer that sent its share prices up after recent reverses. On offer are 20 lakh seats in over 450 daily flights across 57 cities within India, the company said.

Tickets on Jet Airways and JetKonnect flights start at Rs 2,250, according to the company's website. Jet is India's second largest carrier after unlisted Indigo.

Shares in Jet Airlines were up 2.3 per cent after falling 7.65 per cent on Monday. Jet shares have slumped as much as 11 per cent in the past three weeks as the airline has struggled to conclude an agreement with Abu Dhabi-based carrier Etihad Airways.

Jet's offer comes a month after budget carrier SpiceJet announced a similar sale that turned out to be successful. SpiceJet offered 10 lakh seats at an all-inclusive fare of Rs 2,013 for any local flight between February 1 and April 30, booked till January 13.

Jet's offer is likely to weigh on the aviation sector, which has witnessed a lot of turmoil in the recent past, culminating in the grounding of Vijay Mallya controlled Kingfisher Airlines. The aviation industry has been hurt by high state taxes on jet fuel, expensive airports and regulatory uncertainty.

Terms and conditions for Jet's offer:

The offer is valid for the economy class and in domestic flights. The offer is open from February 19, 2013 to February 24, 2013 (both days inclusive). Travel must commence on or before December 31, 2013.

Story first published on: February 19, 2013 12:18 (IST)

Tags: Jet Airways, JetKonnect, SpiceJet, Indigo, Etihad


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