Jet Airways enters profit zone

NEW DELHI: Led by a spurt in the domestic air traffic and massive cost cutting, Jet Airways returned to profit in the December quarter with a Rs.105.80-crore net profit against Rs.214.18-crore loss in the year-ago period.

The Naresh Goyal-promoted airline, however, registered a 4.5 per cent fall in its total income at Rs.2,885.59 crore during the reporting quarter, compared to Rs.3,022.83 crore in the same quarter last fiscal.

The seat factor (flight occupancy) jumped to 80 per cent in the reporting quarter significantly up from 66.2 per cent in the year-ago period. The airline carried 3.41 million passengers during the period.

The airline brought down its employee cost to Rs.289.76 crore in the latest quarter, compared to Rs.364.87 crore in the corresponding period last fiscal. Fuel expenses also came down to Rs.887.86 crore from Rs.1,094.03 crore.

The airline board also gave an in-principle approval to acquire up to 26 per cent in MAS-GMR Aerospace Engineering Company, Hyderabad. — PTI

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