Jet Airways net down 11% to Rs 69 cr

Jet Airways India has reported a 11.40 per cent decline in its net profit at Rs 68.59 crore for the quarter ended September 30, 2005, as against Rs 77.42 crore for the corresponding quarter in the previous year.

Total income grew 27.73 per cent to Rs 1,324.24 crore against Rs 1,036.74 crore. For the first half of the current year, the private airline registered a net profit of Rs 163.93 crore against Rs 129.36 crore for the corresponding period in the previous year, a 26.72 per cent jump.

Total income grew to Rs 2,590.16 crore against Rs 1,926.42 crore. The deferred tax for the second quarter for the current fiscal was up at Rs 31.15 crore against Rs 16.61 crore.

Executive director Saroj Datta said the fuel rates were nearly 22 per cent higher in the second quarter compared with the s"Flood related disruptions between July 26 to August 3 resulted in direct cost of over Rs 3.5 crore and over three times this amount in terms of estimated contribution loss. The results were simultaneously impacted by under utilisation of the airline's leased A-340 fleet, which will continue to be the case in the future since we will be deploying these aircraft on additional international routes such as Delhi-LondonHeathrow service," Datta said.

Jet Airways had recently been granted 14 additional weekly flights to Singapore from Chennai and New Delhi. The airline has also executed the purchase agreements for 10 Boeing 777 and 10 Airbus 330 aircraft for long haul operations, he said.

Dutta said the airline had recently executed the purchase agreement for 10 Boeing 777s and as many airbus 330 aircraft for long-haul operations.