Jet Airways posts profit in third quarter

January 25th, 2010 - 7:09 pm ICT by IANS  

New Delhi, Jan 25 (IANS) Leading private carrier Jet Airways Monday announced net profit of Rs.105.8 crore for the quarter ended December 2009, while it suffered a net loss of Rs.214.18 crore.
In a regulatory filing, the company said its total income has, however, decreased to Rs.293.64 crore for the quarter ended Dec 31, 2009, from Rs.306.3 crore during the like period last year.

The airline had accrued losses of Rs.406 crore during the second quarter.

Its net sales for the period under review declined to Rs.2,722.68 crore, while it was Rs.2,908.87 crore in the same period last year.

The airline had posted a net loss of Rs.1,032 crore in fiscal 2008-09, and Rs.653.87 crore during the like 2007-08 fiscal.

Besides high operational costs, the airline continues to strive against the global slowdown with lowest seat factor at 78.2 percent in December last year, even as it has been a market leader among domestic carriers.

Jet Airways - along with its low-cost subsidiary, JetLite - was the market leader in December catering to 25.4 percent of the market share followed by Kingfisher with 23.9 percent and national carrier Air India having a market share of 17.5 percent market share.

The airline had faced a five-day strike between Sep 5 and 12 by pilots last year, causing it a loss of Rs.80 crore.

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