As the insolvency process for Jet Airways moves ahead, the airline’s stake in Jet Privilege Pvt Ltd that is on an “accelerated growth path”, could well be an attraction for prospective bidders.
For its part, Jet Privilege Pvt Ltd (JPPL) — an independent entity in which Jet Airways has 49.9 per cent stake and is part of Etihad Group — is working to build a “robust vertical-agnostic, multi-brand customer engagement platform”.
JPPL was set up to manage and further develop JPMiles, a loyalty and rewards programme.
Even as Jet Airways faced turbulence before being forced to ground operations on April 17, JPPL has been a profitable venture.
The company’s profit after tax rose to R 129.82 crore last year from Rs 121.64 crore in 2017, as per a document issued for prospective bidders of Jet Airways under the insolvency process.
“JetPrivilege is on an accelerated growth path to build a robust vertical-agnostic, multi-brand customer engagement platform that drives loyalty for brands while accruing numerous meaningful and valuable benefits to members through its reward currency JPMiles,” JetPrivilege Managing Director Manish Dureja told PTI.
Immediate focus is to consolidate growth in the travel space, including flights and hotel stays, he added.
In the document, the frequent flyer programme of JPPL has been mentioned as among the factors for investment rationale regarding Jet Airways.
