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Our Bureau

Mumbai, March 21

The shares of Jet Airways have been on an upward course during the last week in the wake of a distinct improvement in their international operations during January and February.

The stock jumped by about 5.75 per cent on Wednesday to end the day at 670.10 on the BSE, against Rs 564.55 on March 14. Similarly, on the NSE, the stock rose by 5.5 per cent to touch 667.65 at the close of Wednesday's trading.

"Load factors for the month of January and February have shown a remarkable improvement over that of the third quarter of this fiscal," according to Ms Surbhi Chawla, Research Analyst (Shipping & Aviation), Angel Broking. The improved figures have raised the expectations of better financial and operational results for the quarter ending March 2007, she felt.

Falling aviation turbine fuel prices have also contributed to steering the stock on its upward course, according to Mr Vishwas Agarwal, a technical analyst.

The airline operated 652 and 671 international flights in January and February, compared with 562 and 588 in November and December 2006, respectively. Also, the seat factor increased to 78.6 per cent in February from 66.9 per cent in November last year.

Analysts see better prospects for the airline in the international space in the light of the ongoing expansion of traffic rights with key countries such as the UK, Singapore, China, France and Germany.

More Stories on : Airlines | Stocks | Jet Airways (India) Ltd

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