Excelsior Correspondent
JAMMU, Feb 14: Jet Airways Group reported its 11th successive profitable quarter with a net profit of Rs 186 crore for the third quarter of FY18 against a net profit of Rs 299 crore for Q3 FY17, which included a profit of Rs 327 crore on account of sale and leaseback of aircraft.
Supported by a well-differentiated product and service experience, the group registered marked improvements in key operational and business parameters, including capacity and revenue growth by reporting a total revenue of Rs 6,412 crore for the third quarter FY18-an increase of 10.2 per cent over Rs 5,817 crores for Q3 FY17, said Vinay Dube, Chief Executive Officer, Jet Airways.
At the same time, revenues from passengers rose by 11.7 per cent to Rs 5,541 crore and from Cargo rose by 39.3 per cent to Rs 510 crore, he said, adding that the airline also inducted 5 additional Boeing 737 aircraft in its fleet in the period up to December, helping it strengthen its domestic footprint and services.
CASK-excluding fuel decreased by 2.6 per cent to Rs 3.02 against Rs 3.10 in Q3 FY17. The fall was in line with the carrier’s recent announcement of achieving a 12-15 percent reduction in non-fuel CASK over the next couple of years, he informed.
Laying the groundwork for the future, Jet Airways signed the landmark ‘Enhanced Cooperation Agreement’ with Air France-KLM for the development of their operations between Europe and India.
Vinay Dube stated that in an equally significant development, Jet Airways Cargo also signed a Memorandum of Understanding (MoU) with Air France KLM Cargo to strengthen cooperation in the cargo sector between India and Europe.
The quarter also saw Jet Airways launching several new as well as additional services between key sectors. The airline also launched its first non-stop service between New Delhi-Riyadh and additional frequencies between Mumbai-Riyadh, Mumbai-Kuwait, Delhi-Doha and Delhi-Dammam sectors), strengthening its dominant presence on the Indo-Gulf sector, he informed.
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