Airlines set to post steep losses for June quarter, say analysts

New Delhi/Mumbai: Analyst expect all three listed airlines in India to report steep losses for the quarter ended June, a deterioration from year-ago results when they reported a small profit or smaller losses. A poll of four analysts points to consensus minimum loss of Rs282 crore for the country’s oldest private carrier, Jet Airways (India) Ltd, with the highest estimate pegging losses at Rs412 crore, excluding its subsidiary JetLite. It will declare results on 29 July. Two analysts predict low-fare carrier SpiceJet Ltd will post losses ranging between Rs70 crore and Rs87.5 crore.
Losses for India’s largest low-fare carrier Deccan Aviation Ltd, which is merging with Kingfisher Airlines Ltd and is now tracked by few analysts, are estimated at Rs350 crore, according to a single analyst’s projection.
SpiceJet will declare its results on 30 July. Deccan hasn’t set a firm date for reporting its results.
Jet Airways, Deccan and SpiceJet, whose shares are listed, have nearly 45% of the domestic market share with National Aviation Co. of India Ltd-run Air India, Kingfisher Airlines Ltd, InterGlobe Aviation Pvt. Ltd-run IndiGo, GoAir (India) Pvt. Ltd-run GoAir, Jet’s subsidiary JetLite and Paramount Airways controlling the rest of the market as per the June figures released by the Directorate General of Civil Aviation.
28/07/08 Tarun Shukla and P.R. Sanjai/Livemint

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Categories: Indian Aviation- In General Jul 2008