Jet Airways has reported a quarterly profit of Rs 88 crore, as against a Rs 45 crore loss posted in the same quarter in the previous fiscal. Jet Airways said that its yields have increased by 5% in the period. The company attributed the profit to a slew of factors, inclduing softening ATF prices, slower capacity addition, increasing focus on internaional operations.
Jet said that the increasing level of consolidation in the industry is good for the airlines. This, Jet said, will lead to more rational pricing and better operational performance for all carriers. With the ongoing consoldiation, the airlines expects the outlook to be better in the coming quarters.
Jet also signalled its intention to start flights to North America / Canada / Africa and Gulf routes this year. In its statement, Jet Airways said that the turnaround of JetLite (previously Air Sahara, which Jet acquired in April) will pose a financial and operational challenge to Jet Airways in the future.
The average fuel rate was lower at Rs. 36.55 per litre vs. Rs. 36.05 a year ago. This is despite higher fuel expense due to the larger number of flights operated.
Capacity in the domestic market grew at a rate of 36.7% in March quarter, as against 40% plus growth in the previous quarters, Jet said.
Jet's staff numbers increased from 8,727 to 10,590. According to Jet Airways, the bulk of the new numbers has been pilots, engineers and cabin crew.
Jet's revenues from its international flights is now a fourth of the total operating revenues as compared to 13% in the fourth quarter of last year. Jet Airways said that it has set its own internal record seat factor in international operations at 76.6% for the quarter (66.5% a year ago; 67.6% in the third quarter).
The following are highlights of Jet Airways results in figures for quarter ended March 31, 2007 vs. March 31, 2006
Operational:
• System-wide ASKMs of 4,679 million, up 19.8%
• System-wide RPKMs of 3,396 million, up 20.7%
• System wide seat factor of 72.6% vs.72.0%
• Break-even seat factor at 67.1% vs. 67.2%
• 2.71 million revenue passengers carried, vs. 2.67 million
Financial:
• Operating Revenue of Rs. 19,783 million (US$ 455 million), up 23.2%
• EBITDAR of Rs. 4,599 million (US$ 105.8 million), up 49.4%
• Profit before tax and before sale-leaseback Rs. 1,215 million (US$ 27.9 million) vs Rs. 901 million (US$ 20.2 million), up 35%
• Profit after tax of Rs. 880 million (US$ 20.3 million)
Exchange rate used 1 USD = INR 43.47
The following are highlights of Jet Airways results in figures for year ended March 31, 2007 vs. March 31, 2006
Operational:
• System-wide ASKMs of 17,698 million, up 33.1%
• System-wide RPKMs of 12,307 million, up 28.5%
• System wide seat factor of 69.5% vs. 72.0%
• Break-even seat factor at 71.4%
• 10.73 million revenue passengers carried, up 12.2%
Financial:
• Total Revenue of INR 74.0 billion (US$ 1,702.6 million), vs total revenue of INR 60.9 billion (US $ 1,364.5 million)
• EBITDAR of INR 10.1 billion (US$ 231.9 million) vs EBITDAR of INR 13.6 billion (US $ 305.4 million)
• Profit before tax of INR 514 million (US$ 11.8 million) vs. profit before tax of Rs. 7,223 million (US$ 161.9 million)
• Profit after tax of INR 280 million (US$ 6.4 million) vs. profit after tax of Rs. 4,520 million (US$ 101.3 million)
Exchange rate used 1 USD = INR 43.47
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Jet said that the increasing level of consolidation in the industry is good for the airlines. This, Jet said, will lead to more rational pricing and better operational performance for all carriers. With the ongoing consoldiation, the airlines expects the outlook to be better in the coming quarters.
Jet also signalled its intention to start flights to North America / Canada / Africa and Gulf routes this year. In its statement, Jet Airways said that the turnaround of JetLite (previously Air Sahara, which Jet acquired in April) will pose a financial and operational challenge to Jet Airways in the future.
The average fuel rate was lower at Rs. 36.55 per litre vs. Rs. 36.05 a year ago. This is despite higher fuel expense due to the larger number of flights operated.
Capacity in the domestic market grew at a rate of 36.7% in March quarter, as against 40% plus growth in the previous quarters, Jet said.
Jet's staff numbers increased from 8,727 to 10,590. According to Jet Airways, the bulk of the new numbers has been pilots, engineers and cabin crew.
Jet's revenues from its international flights is now a fourth of the total operating revenues as compared to 13% in the fourth quarter of last year. Jet Airways said that it has set its own internal record seat factor in international operations at 76.6% for the quarter (66.5% a year ago; 67.6% in the third quarter).
The following are highlights of Jet Airways results in figures for quarter ended March 31, 2007 vs. March 31, 2006
Operational:
• System-wide ASKMs of 4,679 million, up 19.8%
• System-wide RPKMs of 3,396 million, up 20.7%
• System wide seat factor of 72.6% vs.72.0%
• Break-even seat factor at 67.1% vs. 67.2%
• 2.71 million revenue passengers carried, vs. 2.67 million
Financial:
• Operating Revenue of Rs. 19,783 million (US$ 455 million), up 23.2%
• EBITDAR of Rs. 4,599 million (US$ 105.8 million), up 49.4%
• Profit before tax and before sale-leaseback Rs. 1,215 million (US$ 27.9 million) vs Rs. 901 million (US$ 20.2 million), up 35%
• Profit after tax of Rs. 880 million (US$ 20.3 million)
Exchange rate used 1 USD = INR 43.47
The following are highlights of Jet Airways results in figures for year ended March 31, 2007 vs. March 31, 2006
Operational:
• System-wide ASKMs of 17,698 million, up 33.1%
• System-wide RPKMs of 12,307 million, up 28.5%
• System wide seat factor of 69.5% vs. 72.0%
• Break-even seat factor at 71.4%
• 10.73 million revenue passengers carried, up 12.2%
Financial:
• Total Revenue of INR 74.0 billion (US$ 1,702.6 million), vs total revenue of INR 60.9 billion (US $ 1,364.5 million)
• EBITDAR of INR 10.1 billion (US$ 231.9 million) vs EBITDAR of INR 13.6 billion (US $ 305.4 million)
• Profit before tax of INR 514 million (US$ 11.8 million) vs. profit before tax of Rs. 7,223 million (US$ 161.9 million)
• Profit after tax of INR 280 million (US$ 6.4 million) vs. profit after tax of Rs. 4,520 million (US$ 101.3 million)
Exchange rate used 1 USD = INR 43.47
Discuss
Add this link to...
Tell a friend
Bury
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