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Tue 12 Aug 2014 11:58 AM

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Backed by Etihad, Jet Airways to turn profitable

Jet Airways, India's second-biggest carrier, forecasts a return to profit in three years through cost-cuts, route-sharing with new partner Etihad Airways and restructuring of hefty debt.

Backed by Etihad, Jet Airways to turn profitable
India's Jet airways chairman Naresh Goyal (R) speaks as James Hogan, chief executive officer of Etihad Airways, watches during a news conference in Mumbai on August 11, 2014. Jet Airways, India's second-biggest carrier, forecast on July 23 a return to profit in three years through cost-cuts, route-sharing with new partner Etihad Airways and restructuring of hefty debt. (AFP/Getty Images)
Backed by Etihad, Jet Airways to turn profitable
India's Jet airways chairman Naresh Goyal (R) speaks with James Hogan, chief executive officer of Etihad Airways during a news conference in Mumbai on August 11, 2014. Jet Airways, India's second-biggest carrier, forecast on July 23 a return to profit in three years through cost-cuts, route-sharing with new partner Etihad Airways and restructuring of hefty debt. (AFP/Getty Images)
Backed by Etihad, Jet Airways to turn profitable
India's Jet airways chairman Naresh Goyal (R) speaks with James Hogan, chief executive officer of Etihad Airways during a news conference in Mumbai on August 11, 2014. Jet Airways, India's second-biggest carrier, forecast on July 23 a return to profit in three years through cost-cuts, route-sharing with new partner Etihad Airways and restructuring of hefty debt. (AFP/Getty Images)
Backed by Etihad, Jet Airways to turn profitable
Hyderabad International Airport CEO P. Sripathy and Etihad Airways Sales Vice-President Adrian Parkes give a press conference in Hyderabad on November 12, 2009. The United Arab Emirates (UAE) national airline has launched four flights a week between Abu Dhabi and Hyderabad, the capital of southern Indian state Andhra Pradesh. (AFP/Getty Images)
Backed by Etihad, Jet Airways to turn profitable
In this photograph taken on June 10, 2008, India's Jet airways chairman Naresh Goyal (L) and Etihad Airways CEO James Hogan (R) pose at a joint press conference in Mumbai. India's biggest private airline Jet Airways, which is in final talks for a stake sale to Abu Dhabi-based Etihad Airways, on February 1, 2013 swung into a quarterly net profit from a net loss a year ago. Etihad is likely to pick up a stake in Jet, which would be the first in India's aviation sector, after the government in September said it allowed overseas airlines to take up to a 49 percent stake in domestic operators. (AFP/Getty Images)
Backed by Etihad, Jet Airways to turn profitable
India's leading private sector airline Jet airways chairman Naresh Goyal (L) along with James Hogan (R) chief executive officer of Etihad Airways addresses a joint press conference in Mumbai on June 10, 2008. The airlines announced a new code sharing agreement and network-wide frequent flyer partnership between them. Passengers would get a multiple choice of flights and frequent flyer benefits through the tie-up. Jet Airways, operates with a fleet of 84 aircraft which fly to 60 destinations and Etihad Airways has 37 aircraft, which fly across 45 destinations. (AFP/Getty Images)