Jet Airways shares gain on plan to upgrade Delhi-Singapore route

Jet Airways has said it would deploy a bigger aircraft, a wide-body Airbus A330, on Delhi-Singapore route, offering 50 per cent more seat capacity on the route, from 25th of this month. (Photo: Reuters)

Shares of Jet Airways jumped as much as 1.4 per cent in the early trade on Friday after the airline major on Thursday informed BSE that it will upgrade its daily flights between Delhi and Singapore to an Airbus A330, from 25th of this month. This will enable guests on this high demand sector to experience enhanced cabin comfort on board the wide-body aircraft, while offering convenient connections for those travelling from India to Australia and the ASEAN region over Singapore on code-share and interline partner airlines.

At 9.32 am, Jet Airways share price was up 0.80 per cent at Rs 432.10. The scrip opened at Rs 425 and had touched a high and low of Rs 437.40 and Rs 425, respectively, in trade so far. Sensex was down 0.96 per cent at 25,619.79.

In a BSE filing, the company said, “The upgraded service will offer 50 per cent more seat capacity than the Boeing 737 currently operating on this route.”

The A330 offers guests Jet Airways’ award winning inflight experience with enhanced cabin comfort and a customised two-cabin seating configuration of 18 seats in Premiere and 236 in Economy.

The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 543.50 on 02-Feb-2015 and a 52 week low of Rs 240.75 on 25-Nov-2014.

Last one week high and low of the scrip stood at Rs 455 and Rs. 390 respectively. The current market capitalisation of the company is Rs 4,921 crore.

The promoters holding in the company stood at 51 per cent while institutions and non-institutions held 14.09 per cent and 34.91 per cent, respectively.

Jet Airways currently operates a fleet of 116 aircraft, which include a mix of state-of-the-art Boeing 777-300 ERs/Airbus A330-200/300 aircraft, Next Generation Boeing 737s and ATR 72-500/600s, and has one of the youngest fleet in the region with an average of 6.01 years.