Jet Privilege clocks 35 billion miles, may help save airline

Lenders to Jet Airways (India) Ltd may tap its frequent-flyer programme to partly rescue the airline from its financial distress.

Despite a sharp reduction in Jet Airways’ fleet and the pessimism stemming from its inability to repay loans and service plane lease rentals, Jet Privilege Pvt. Ltd (JPPL) has witnessed its customer base swell from 7.3 million to 9 million in the past year. Reward-point sales have risen 20% to 35 billion JPMiles during the period, improving opportunities for the carrier’s shareholders to monetize their value.