Jet Airways returns to profi
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Jet Airways and JetLite have posted a combined net profit of INR2.25 billion (US$48.6 million) in the quarter ending 31 March 2010, compared to a INR786 million loss in the same period last year. The return to profit follows a 15% rise in revenue to INR33.4 billion. Demand, measured in revenue passenger kilometres (RPK), climbed 22% to 6.1 billion, on the back of an 11% rise in capacity. This allowed quarterly load factor to increase 6.9 points to 78.6%.
Jet’s CEO, Nikos Kardassis, said; “The positive turnaround at the Jet Airways’ Group is a result of constant product innovation, stringent cost management, smart marketing and strong fiscal prudence, as well as the hard work dedication and commitment of our people.
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