UPDATE 2-Jet Airways to put global expansion on hold -exec

(Adds details of oil price impact, background)

By Fang Yan

SHANGHAI, June 16 (Reuters) - Jet Airways (JET.BO: Quote, Profile, Research), India's top private airline, plans to put its international expansion on hold until the end of next year because of soaring oil prices, its chief commercial officer said on Monday.

"After this flight, we will probably only launch Dubai when we get the rights," Sudheer Raghavan told Reuters at a ceremony marking the launch of a new daily flight between Mumbai and San Francisco via Shanghai.

"After that we are going to consolidate our international operations until the end of 2009, when we get new aircraft."

Jet Airways, controlled by billionaire chairman Naresh Goyal, has been expanding its global route network aggressively. It now flies to 62 destinations including 19 cities outside India, up from 11 at the end of last year.

But with crude oil prices topping $130 per barrel, long haul flights now take as much as two-and-a-half years to become profitable, compared with 12 to 18 months when oil prices were at $50 to $70, Raghavan said.

The price of Indian jet fuel, which accounts for nearly 45 percent of an Indian carrier's operating costs, has risen almost 90 percent since last June.

Jet Airways lost 911 million rupees ($21.2 million) in the third quarter to December 31, 2007, compared with a profit of 400 million rupees a year earlier.