Jet Airways Q3 net falls 34% on year

Mumbai: Jet Airways Ltd on Friday returned to profit in its fiscal third quarter, helped by softer aviation fuel costs and its growing international operations.
Jet, which has more than a third of the fast-growing but competitive domestic market, said net profit for the fiscal third quarter fell 34 percent to 400.4 million rupees ($9 million) from 610 million reported a year earlier.
Its revenue rose 31 percent to 19.36 billion rupees from 14.78 billion.
Jet had reported losses for the two previous quarters on high fuel costs.
A fuel surcharge on tickets and income from sale and lease back of aircraft helped improve margins in the quarter.
Jet has seen its share of the domestic market slip on rising competition from newly launched discount carriers, but it is adding overseas routes and expects half its revenue to come from its overseas operations by March 2009.
20/01/07 Reuters/Financial Express

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