Jet Airways plans to hive off its customer-privilege business into a unit soon, officials of the airline said here on Tuesday. Customer-privilege business accounts for a quarter of its revenue.
The airline’s Chief Executive Officer Nikos Kardassis said that the move would allow the company to focus more on enhancing revenue.
“We plan to finalise the decision in 45 days,” Kardassis told reporters on the sidelines of an event. Vice- President of Marketing Manish Dureja said the airline had already got shareholders’ approval for the hive-off.
Jet Airways’ customer-privilege business handles its frequent-flyer programme and services like free miles offered to the customers of partner companies.
It has about 2.9 million passengers as partners and aims to cross 10 million passengers in the next five years, officials said.
Jet Airways posted a first-quarter net profit of Rs 25 crore, after posting losses in the last five quarters.
HDFC Bank tie-up
Earlier, Jet Airways partnered with HDFC Bank to launch ‘JetPrivilege-HDFC Bank Credit Card’, a range of credit cards offering benefits and rewards in the form of JPMiles.
The co-branded credit cards will offer enhanced mileage earning opportunities to customers across cities in India.
The credit card with its World, Platinum and Titanium variants will be offered on the MasterCard network platform.