Jet Airways has reportedly extended the schedule for repaying INR20 billion (USD416 million) in debt from two years to five years, with the carrier to repay INR2.5 billion in 2009, compared to its previous commitment of INR10 billion (Dow Jones, 14-Aug-09). The affected loans, taken out in Dec-2008 and Jan-2009, are reportedly from Indian banks. The carrier reportedly plans to pay INR2.5 billion in 2010, followed by INR5 billion for the three from 2011.
Jet Airways extends debt repayment schedule; to repay only a quarter of 2009 amoung
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Virgin Atlantic seeks new partners in Asia and other eastbound markets, but imminent deals unlikely
In an interview with Bloomberg on 15-Jun-2016, Virgin Atlantic CEO Craig Kreeger said that the airline was open to "accords" that would complement the North Atlantic joint venture with its 49% shareholder Delta. These would be "most likely focused on Asia and other eastbound markets" where Virgin reduced its exposure after the Delta deal.
Although 'Asia and other eastbound markets' are both the world's largest and fastest-growing aviation markets, Virgin has reduced its exposure to Asia Pacific and Middle East since Delta acquired a 49% stake in the UK airline in 2012 and subsequently formed its North Atlantic JV in 2013. Virgin withdrew from Mumbai and Tokyo Narita in 2015, after dropping its Australia route in May-2014.
Mr Kreeger also said that Virgin was looking at adding to its existing seven codeshare partners, which are Air China, Air New Zealand, All Nippon Airways, Delta, Flybe, Jet Airways and Singapore Airlines. This report considers which airlines in "Asia and other eastbound markets" might make attractive partners for Virgin Atlantic, whether through new JVs or codeshares. Mr Kreeger may be open to JVs in the region, but he will first need to increase Virgin's very small online presence in Asia. Imminent new deals seem unlikely. In reviewing likely attractive enhanced relationships, Delta's interests will form one ingredient, but Virgin Atlantic remains an airline in its own right.