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Jet Airways Group swung to a net profit for the third quarter ended December 31, 2014, helped by improved efficiency in its domestic and international networks.
Jet Airways posted a net profit of ₹63 crore in the quarter against a loss of ₹267 crore in the year-ago quarter. It reported a net profit in the September quarter on one-off gains, including from the sale of its frequent flyer programme.
Cramer Ball, CEO of Jet Airways, said: “The enhanced global connectivity we now offer along with our partner Etihad Airways and other strategic codeshares has helped in a sustained increase in our international passenger traffic. Concurrently, our continuing focus on efficiency and network rationalisation has helped in achieving an improved business performance.”
“While the global and local operating conditions have eased, we only expect to see the real impact of the lower fuel price in the next quarter.”
The airline’s total revenue (combined) for the third quarter of fiscal year 2015 increased by 9 per cent to ₹5,436 crore from ₹4,990 crore. Passenger revenues for the quarter rose 8.8 per cent to ₹4,621 crore from ₹4,248 crore, and cargo revenue by 5.3 per cent to ₹382 crore from ₹363 crore, compared with the third quarter last year.
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