Jet Airways Q4 net slumps 95% to Rs 23 cr on mounting expenses

Fuel costs up a staggering 59%; an 88% rise in other income saves airline the blushes

Jet Airways consolidated net profit slumped 95 per cent to Rs 23 crore in Q4 FY 17 on a year-on-year basis owing to higher expenses. In the same period last fiscal the airline made a Rs 426 crore profit.

Revenue from operations grew 3.5 per cent to Rs 5,728 crore driven largely by network optimisation. Jet Airways capacity addition has been limited in comparison with peers. The airline launched new routes in domestic network and improved utilisation of its wide body Airbus A330 and Boeing 777 planes.

An 88 per cent rise in other income (including profit from sale-and-lease-back of planes, and