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Our Bureau

Mumbai, Oct 29

An eight per cent drop in unit cost and improved load factor has led Jet Airways to post a net profit of Rs 28 crore for the second quarter ended September 30, as against a net loss of Rs 55 crore in the same quarter a year ago.

Total income of the company has risen by 24 per cent to Rs 2,254 crore (Rs 1,821 crore).

While the domestic load factor for the airline in the second quarter increased to 66.3 per cent from 65.6 per cent in the year ago period, the load factor in international operations rose to 67.5 per cent (58.9 per cent). However, domestic operations still account for 69 per cent of Jet’s operating revenues (Rs 1,253 crore) with 31 per cent coming from international operations (Rs 566 crore).

Jet is looking at an equal contribution to revenues from domestic and international operations by third or fourth quarter of next year, said Mr W. Prock Schauer, CEO of Jet Airways.

The airline is also reconfiguring its aircraft. “We are increasing the number of seats in the business class and would be providing better leg space in the economy class as well. Around 60 to 65 per cent of our Boeing 737 fleet is in new configuration,” he added.

On Jet Lite, the company in a statement said, “We are on track to turn around JetLite and make it profitable in Q3 FY 2008.” Jet plans to make all 24 aircraft of JetLite operational by end of November. Re-branding of all aircraft and reconfiguration into all economy is set to be complete by March 2008.

Jet will launch operations to Dhaka from December both from Delhi and Kolkata and also plans to introduce a second frequency between Delhi and Kathmandu. As regards commencing operations to Gulf, Mr Schauer said, “We would start from January 2008 beginning and all the routes will commence within short intervals till February,” refusing to divulge exact dates. The Indian carrier has been given permission to fly to Qatar, Kuwait, Bahrain and Oman on the Gulf routes.

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

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