Code sharing deal to help Jet add Rs 40 cr to bottomline

Mumbai: Jet Airways, the country’s largest-private airline, is expected to add around Rs 30-40 crore to its sagging bottomline through the code sharing arrangements with its subsidiary JetLite.
A company official, who did not wish to be named, confirmed it. He said, the development assumed significance as the amount would be generated from the initiative which was launched three months ago. “The code sharing arrangements promise to reap more benefits for both the companies in coming years,” said the official. It will also scale up Jet Airways’ income, albeit marginally.
Industry experts, however, said this additional income would not make a huge difference to the bottomline of the loss-making airline. Jet Airways, which suffered a net loss of Rs 384 crore in the September 2008 quarter against a net profit of Rs 28 crore in the year-ago period, is likely to announce its December quarter results on Friday.
16/01/09 Mithun Roy/Economic Times

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Categories: Jet Airways Jan 2009