Jet Airways, India’s largest carrier in terms of passenger carriage, has registered a net profit of Rs 12.4 crore in the second quarter of the current financial year on the back of a revival in the aviation market and rising revenues from its international operations. The Naresh Goyal-led airline had incurred a loss of Rs 406.69 crore during the same period last year.
The carrier’s total earnings of rose by an impressive 32 per cent to over Rs 3,105 crore, with its international operations accounting for almost 60 per cent of the total earnings and domestic operations accounting for the rest.
The airline’s expenditure also saw an increase of 13 per cent in this quarter, compared with Rs 2,516 crore in the same quarter last year.
The increase in expenditure came because the airline increased capacity in the market.
Jet Airways CEO Nikos Kardassis said the company not only achieved the best on-time performance, but offered multiple products to suit the unique needs of customers.
“Our ability to expand market share in a highly competitive market augurs well for the future, as it clearly reveals that Jet Airways is fast emerging as the airline of choice from and to the Indian subcontinent,” he was quoted in a statement sent by the airline.
The average seat per kilometre grew by 22.6 per cent in the quarter and revenue per kilometre rose by 23.3 per cent.
Jet’s market share from the quarter was at 26.9 per cent for the quarter ending September and its on-time performance stood at 84 per cent for the quarter.
“With the introduction of new service from Mumbai and Delhi to Colombo and Delhi to Milan by the year end, Jet Airways is set to further consolidate its dominant market leadership as the preferred airline,” the statement further said.
Colombo flights would be launched on November 5 and operations to Milan would begin from December 5.
Going ahead, Jet Airways expect the yields to improve further on account of new hub at the terminal of the Delhi airport and the peak season ahead. “We expect the yields to improve further on account of the peak season, our constant product and service innovation as well as improved network connectivity with the addition of new flights to the existing hubs in Mumbai and Delhi.
