Jet Airways and Etihad Airways have unveiled a new “turnaround strategy” to return the Indian carrier to profitability in three years.
The plans follow Etihad’s recent acquisition of a 24% stake in Jet Airways.
Currently international operations contribute 45% of Jet Airways total revenue, but within three years the airline is looking to grow that to 63%.
It will include new services to Europe, China, Australia and southeast Asia, expanded frequencies on existing routes and additional codeshares.
Jet Airways’ two and three-class aircraft will also be enhanced and the seat count will be optimised on Boeing 777s and Airbus A330s.
The Jet Airways board recently approved a three-year business plan to reshape the airline and secure its long-term future.
It also announced a new team, with Cramer Ball as its new chief executive and Subodh Karnik as chief operational officer, pending regulatory approval.
The airline said “tough measures” needed to be introduced to improve its position and build a “strong foundation”.
Naresh Goyal, chairman of Jet Airways, said: “The coming together of Jet Airways and Etihad Airways has already proved a success for the two airlines and, importantly, has been beneficial for travellers.
“However, the market has been challenged by factors such as a difficult economic climate, volatile fuel prices, and the rapid growth of low-cost carriers in India.
“Tough measures were needed to ensure Jet Airways’ long-term future, maximise its partnership with Etihad Airways, and enhance the benefits this partnership offers to passengers.
“Our international operations are already profitable and contribute 45% to our total revenue. We will continue to build on this strong foundation as part of our three-year turnaround plan and increase the contribution to 63 per cent by 2015.
“At the same time, we will address challenges in the domestic market with a model that removes complexity in our fleet, product and brand. This is not a short-term strategy, but we are optimistic about the future and confident about achieving the intended results.”
Last month the airlines agreed an expansion of their codeshare agreement with more than 43 routes added, bringing the total of codeshare services to 71.