Jet Airways Group, which includes Jet Airways (India) and Jet Privilege, has reported net profit of ₹438 crore for the year 2016-17 on total revenues of ₹22,693 crore. For the fourth quarter, the group reported a net profit of ₹23 crore on total revenues of ₹5,728 crore. This is the second profitable year for the airline.
“The past year has been extremely challenging for both domestic and international markets,” said Naresh Goyal, chairman, Jet Airways. “We achieved positive results through our relentless effort to streamline operations, improve productivity and business performance, enabling us to reduce our debt by ₹1,902 crore during this year despite weakening demand in certain international markets, especially Gulf.”
