Jet Airways is India's second largest airline with more than 300 flights a day travelling to 74 destinations.

With this reach, it's no wonder that other airlines would want to do business with it. And this week, U.S.-based Delta Air Lines and KLM Royal Dutch Airlines announced a code-share agreement with Jet Airways, which is a big deal in the aviation world.

It enables Delta and KLM passengers flying from Europe and the United States to connect to Jet Airways daily flights from Amsterdam to New Delhi and Mumbai. From there, they can reach many Indian cities, including Chennai, Goa, Amritsar, and Hyderabad, as well as Dhaka in Bangladesh, Kathmandu in Nepal, and Colombo in Sri Lanka.

"Delta and KLM codeshare on these Jet Airways routes will provide customers with coordinated customer service, a single ticket and through-check in of bags to their final destinations," the three airlines said in a statement. "Delta SkyMiles and KLM Flying Blue members will be eligible to earn and redeem frequent flyer miles on codeshare routes operated by Jet." 

India has the fastest growing aviation market in the world, accorrding to the International Air Transport Association.

The group representing nearly 260 airlines has reported that from October 2014 to October 2015, revenue passenger kilometres (RPK) in India's domestic market rose by 17.6 percent.

That compares to a 12.8 percent RPK increase in domestic air travel in China, 10.3 percent in the Russian Federation, 6.9 percent in the United States, and 2 percent in Japan.

The rise in air travel in these countries occurred as fuel prices fell sharply. The RPK percentages fell 6 percent in Brazil and 0.7 percent in Australia over the same one-year period.