Kingfisher-Jet likely to tie up for code share agreement

Mumbai, Oct 13 (UNI) Jet Airways (India) Limited, India's largest private airline, may tie up with rival carrier Kingfisher Airlines Limited, for a possible code share agreement on domestic and international routes.

Nearly two years back, Jet took over Sahara airlines while Kingfisher took over Air Deccan recently.

Naresh Goyal, and Vijay Mallya, who promoted Jet and Kingfisher respectively, will be soon meeting at the headquarters of Kingfisher Airlines in Mumbai, sources said The scrip of Kingfisher Airlines Limited today rose by 35.70 per cent to close at Rs 52.65 on the Bombay Stock Exchange, while Jet Airways' shares posted a 11.39 per cent rise to close at Rs 292.50.

Sources said both the airlines are losing about Rs 20 crore a day.

Aviation industry have been crying hoarse about the financial pressures, which have been accentuated by the global financial meltdown resulting in loss of creamy international and national traffic.

Kingfisher had recently laid off 300 jobs, while Jet, together with its low cost airline JetLite, has also cut 687 jobs.

Jet Airways has also started undertaking a route rationalisation exercise for its international operations. It recently announced discontinuation of its Mumbai-San Francisco flight from January 13 next year.

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