Jet Air to sale-and-leaseback of 10 aircraft by March

Jet Airways ,the country's largest private carrier has posted its fourth straight quarterly loss on Friday as higher fuel costs continued to hurt its financials. The airline posted a Rs 101.22 crore loss for the December quarter against a Rs 118 crore profit which it posted in the year-ago period.
In an interview to CNBC-TV18, M Shivkumar, senior vice-president (finance) at Jet said expensive fuel impacted the operating performance of the airline, "We could not pass on the fuel cost to customers and hence had operating losses," he said.
Aviation Turbine Fuel (ATF), constitutes a third of the total operating cost to any airline and in India it costs is nearly 70% higher then what foreign airlines in South East Asia or West Asia pay due to huge sales tax that airlines have to pay in India.
During the quarter, the ATF cost around 53,0000/kl. Fuel cost surged 60% to Rs 175.3 crore.
Shivkumar, howeever said the carrier benefited from a sale and leaseback of planes, a property deal and foreign-exchange gains during the quarter. Jet earned around Rs 400 crore from these transactions.
23/01/12 CNBC-TV18/Moneycontrol.com

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Categories: Jet Airways Jan 2012