India’s Jet Airways and Saudi Arabia’s flynas strike codeshare deal to boost inter-city travel

The codeshare will help 6 million passengers who travel between Saudi Arabia and India for religious, tourism and business purposes. (Getty Images)
Updated 12 December 2018

India’s Jet Airways and Saudi Arabia’s flynas strike codeshare deal to boost inter-city travel

  • Under the agreement, travelers will be able to use either airline for their trips between the two countries and on some domestic connections
  • Codeshare agreement will support close to 6 million passengers who travel between Saudi Arabia and India for religious tourism and business purposes

LONDON: The Indian airline Jet Airways has signed a codeshare agreement with Saudi Arabia’s budget airline flynas, which will improve the connectivity between major Indian and Saudi Arabian cities.
Under the agreement, travelers will be able to use either airline for their trips between the two countries and on some domestic connections.
Flights are on sale now with customers able to travel on codeshare flights from Tuesday.
“This partnership is an important step in-line with flynas’ expansion and development strategy. Through such agreements we aim to offer a continually improved service to our passengers by adding more travel routes and expanding our reach regionally and internationally, in particular to key markets such as India,” said flynas’ CEO, Bander Al-Mohanna.

 

Jet Airways will place its marketing code “9W” on flynas flights between Dammam and Jeddah and Riyadh. The code will also be placed on connections from those cities to the holy city of Madinah as well as Gizan, Gassim, Taif and Abha. This will enable Jet Airways customers to fly into one Saudi city and leave via another.
Flynas will place its marketing code XY on Jet Airways’ international flights connecting Jeddah to Mumbai, Riyadh to Mumbai and Delhi. It will also cover flights from Dammam to Mumbai and Delhi.
Flynas will place its code on some destinations within Jet Airways domestic network, via Mumbai to Delhi, Kochi, Bengaluru, Hyderabad, and Lucknow as well as via Delhi to Bengaluru, Lucknow, Chennai and Kochi.
The codeshare agreement will support close to 6 million passengers who travel between Saudi Arabia and India for religious tourism and business purposes, said Marnix Fruitema, executive vice president — commercial, Jet Airways.
“Saudi Arabia is the second largest international travel market to and from India,” he said in a statement.

FASTFACTS

Saudi Arabia is the second largest international travel market to and from India.


Oil recoups losses as OPEC, US Fed see robust economy

Updated 14 November 2019

Oil recoups losses as OPEC, US Fed see robust economy

  • US-China trade deal will help remove ‘dark cloud’ over oil, says Barkindo

LONDON: Oil prices reversed early losses on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) said it saw no signs of global recession and rival US shale oil production could grow by much less than expected in 2020.

Also supporting prices were comments by US Federal Reserve Chair Jerome Powell, who said the US economy would see a “sustained expansion” with the full impact of recent interest rate cuts still to be felt.

Brent crude futures stood roughly flat at around $62 per barrel by 1450 GMT, having fallen by over 1 percent earlier in the day. US West Texas Intermediate crude was at $56 per barrel, up 20 cents or 0.4 percent.

“The baseline outlook remains favorable,” Powell said.

OPEC Secretary-General Mohammad Barkindo said global economic fundamentals remained strong and that he was still confident that the US and China would reach a trade deal.

“It will almost remove that dark cloud that had engulfed the global economy,” Barkindo said, adding it was too early to discuss the output policy of OPEC’s December meeting.

HIGHLIGHT

  • US oil production likely to grow by just 0.3-0.4 million barrels per day next year — or less than half of previous expectations.
  • The prospects for ‘US crude exports had turned bleak after shipping rates jumped last month.’

He also said some US companies were now saying US oil production would grow by just 0.3-0.4 million barrels per day next year — or less than half of previous expectations — reducing the risk of an oil glut next year.

US President Donald Trump said on Tuesday Washington and Beijing were close to finalizing a trade deal, but he fell short of providing a date or venue for the signing ceremony.

“The expectations of an inventory build in the US and uncertainty over the OPEC+ strategy on output cuts and US/China trade deal are weighing on oil prices,” said analysts at ING, including the head of commodity strategy Warren Patterson.

In the US, crude oil inventories were forecast to have risen for a third straight week last week, while refined products inventories likely declined, a preliminary Reuters poll showed on Tuesday.

ANZ analysts said the prospects for US crude exports had turned bleak after shipping rates jumped last month.