Jet Airways to Post Full-Year Loss

Hong Kong: Jet Airways (India) Ltd. will post a loss for its just-ended financial year, its chairman said, blaming start-up costs arising from new overseas routes and fare wars among the airlines competing in India's domestic market.
Chairman Naresh Goyal declined to specify the carrier's result for the fiscal year ended March 31 other than to say "we will lose" money.
Mr. Goyal, speaking to reporters Monday, forecast that Jet Airways would break even in the current fiscal year. The carrier posted a net loss of 911.2 million rupees ($22.9 million) in its third quarter, ended Dec. 31, against a profit of 400.4 million rupees a year earlier.
Thanks to deregulation and a plethora of new, privately owned airlines, India -- dominated for years by plodding state-run carriers -- has become one of the world's fastest-growing aviation markets. Aircraft manufacturers Boeing Co. and Airbus, a unit of European Aeronautic Defence & Space Co., see India as the most promising market for new planes in Asia outside China, though the growth is constrained by cramped airports and other poor infrastructure.
15/04/08 Bruce Stanley/Wall Street Journal

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Categories: Jet Airways Apr 2008