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Airlines
Jet posts loss in Q4 despite higher income
Skyrocketing aviation turbine
fuel prices, slowdown in
domestic demand and losses
from operations on certain
international routes have led
Jet Airways to post a loss of
Rs 221 crore for the fourth
quarter ended March 31,
2008 against a net profit of
Rs 88 crore, a year ago.
However, the total income
for the same period grew 37
per cent to Rs 2,727 crore (Rs
1,989 crore) on account of
growing international operations.
The overseas load factor,
however, has seen a dip as
high oil prices are marginally
affecting the demand .
Domestic load factor stood
at 74 per cent (70.3), while
international load factor was
at 69 per cent (76.6)
Revenues from international
operations grew 42 per
cent (Rs 1,160 crore) from 23.7
per cent (Rs 469 crore) in the
same period last year. Domestic
operations accounted for
58 per cent (Rs 1,600 crore)
compared to 76.3 per cent last
year (Rs 1,509 crore).
The company said that
globally, the aviation industry
was bearing the brunt of rising
crude oil prices.
The fuel cost for the quarter
was higher by Rs 128 crore
compared to last year due to
rise in ATF prices and increased
number of long-haul
flights.
The consolidated net loss
for the full year ended March
31, 2008 including its 100-per
cent subsidiary, Jetlite, was
Rs 654 crore while the total
income stood at Rs 10, 921
crore. This is the first time the
company is declaring consolidated
figures, it acquired Air
Sahara and turned it into its
low fare arm, Jetlite,
Jet's standalone losses for
FY08 were Rs 253 crore
against a profit of Rs 28 crore
last year.
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Costlier fuel, new hires dent Jet Airways
Fuelling turbulence
Airlines studying options to cut fuel costs
More Stories on :
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Jet Airways (India) Ltd
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