Jet Airways May Post Profit on Lower Fuel Costs

Jet Airways (India) Ltd. may report its first profit in three quarters, helped by lower fuel prices and income from the sale of an aircraft.
Jet Airways will post net income of 138 million rupees ($3.1 million) in the three months ended Dec. 31, compared with 610 million rupees a year ago, according to the median estimate in a Bloomberg survey of seven analysts. The airline had losses totaling 1 billion rupees in the preceding two quarters.
``Jet's turnaround is primarily being led by lower fuel prices,'' wrote N. Krishnan, a Mumbai-based analyst at CLSA Asia- Pacific Markets, in a Jan. 8 earnings note. ``Jet will benefit from what is seasonally its strongest quarter,'' said Krishnan, who expects the airline to earn 290 million rupees in net income.
15/01/07 Anand Krishnamoorthy/Bloomberg

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