MUMBAI: India’s Jet Airways and Air France-KLM on Wednesday announced a partnership to route more traffic through Europe and on to North America, in a potential challenge to Gulf carrier Etihad Airways which is a shareholder in Jet.
Indian international air traffic is booming, but much of the growth has been captured by the three big Gulf carriers including Etihad, which owns 24 percent of Jet.
The “enhanced cooperation agreement” with Air France-KLM, signed in India’s financial capital Mumbai, is designed to expand the number of flights to Europe and make Paris and Amsterdam hubs for connecting flights to the US.
The agreement also includes Delta Air Lines, with which Air France KLM has an existing partnership.
International carriers are increasingly tying up on routes in the face of rising competition.
Jet’s chief financial officer Amit Agarwal said in September that there was “continued weakness in the Gulf market both on the demand as well as yield.” He said flights into Amsterdam and Paris, which Jet launched recently, were a “brighter spot.”
The Gulf will continue to be an important market and Jet will not reduce its operations there, Naresh Goyal, chairman of Jet, told reporters alongside Jean-Marc Janaillac, Air France-KLM’s chairman. Goyal added that Jet had a “great relationship with Etihad” and that would continue.
Under its previous CEO, James Hogan, Etihad had invested in Jet Airways as part of an aggressive strategy of growing its Abu Dhabi hub by taking stakes in other airlines that would funnel traffic to the UAE.
Two of the airlines, Alitalia and Air Berlin, have since entered administration and incoming Etihad CEO Tony Douglas is expected to re-examine its other equity investments when he starts in January.
Etihad was not immediately available for comment.
CAPA Center for Aviation senior analyst Will Horton said the Air France KLM partnership was a “textbook example” of the downside of Etihad having only a minority investment in Jet.
“Under the new/expanded deal, Jet Airways will do more flying on its own compared to the Etihad deal. That boosts revenue,” he said. “Jet’s widebody fleet will also be better utilized — that’s also good for Jet.”
Jet and Air France-KLM said in a statement the agreement announced on Wednesday would involve coordination of sales and services. They also signed a memorandum of understanding to strengthen cooperation in cargo operations.
Jet shares were trading 1.7 percent higher on Wednesday, while Air France-KLM shares were up 1 percent.
Jet and Air France-KLM expand ties in potential challenge to Etihad
Jet and Air France-KLM expand ties in potential challenge to Etihad
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QatarEnergy secures offshore exploration license in Libya
RIYADH: QatarEnergy has secured a marine exploration license in Libya following the conclusion of the “Libya Bid Round,” marking its entry into the country’s energy sector.
In a statement, QatarEnergy said Libya’s National Oil Corp. announced the results of the competitive bidding process, the first licensing round held in the country since 2007.
Exploration and production rights for Block O1 were awarded to a consortium comprising QatarEnergy, which holds a 40 percent participating interest, and Italy’s Eni, the operator, with a 60 percent stake.
Commenting on the development, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy, Saad Sherida Al-Kaabi, said: “We are pleased to have been awarded exploration rights in this area and are encouraged by the potential of Libya’s offshore sector and the opportunities to expand our footprint in North Africa.”
He added: “I would like to thank and congratulate the Libyan authorities on the success of this licensing round. We look forward to working closely with the Libyan authorities and Eni to ensure the successful execution of the exploration program.”
Block O1 is located in the offshore Sirte Basin and spans approximately 29,000 sq. km, with water depths reaching up to 2,000 meters.
Beyond Libya, QatarEnergy continues to expand its global presence, particularly in Asia. The company recently signed a 20-year sales and purchase agreement with Malaysia’s Petronas to supply 2 million tonnes per annum of liquefied natural gas starting in 2028.
The agreement, signed during the LNG2026 conference in Doha, represents the first long-term LNG deal between the two state-owned energy companies. QatarEnergy said the partnership reflects “continued confidence and trust between the two organizations” and underscores their shared vision for a sustainable energy future.
Al-Kaabi noted that the agreement “highlights our continued commitment to supporting Malaysia’s growing energy needs, as well as those of our customers worldwide.”
On the sidelines of the same conference, QatarEnergy also signed a memorandum of understanding with Japan’s Ministry of Economy, Trade and Industry and JERA to supply additional LNG volumes during emergencies, such as natural disasters.
