Mumbai: Jet Airways reported a third successive consolidated quarterly loss of Rs 283 crore in the December quarter of the current financial year as against Rs 93-crore profit in the corresponding period last year.
In the first nine months of the year, the airline posted a loss of Rs 1,629 crore. The loss is, however, lower than the Centre for Asia Pacific Aviation estimate. It had pegged the loss to be between $60 and $80 million (Rs 370 crore and Rs 500 crore).
The period between October and December is a seasonally good quarter for airlines, as it brings in high loads and better revenue because of rise in leisure travel. Yields improved 20 per cent and revenue rose six per cent but the result was adversely impacted due to rupee depreciation and higher fuel cost. Aircraft on ground resulted in an impact of Rs 105 crore. The airline has sold two wide-body A330s and is expected to sell three other aircraft to cut costs. “It is a weak result despite the quarter being good for airlines,” an analyst said.
08/02/14 Business Standard
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In the first nine months of the year, the airline posted a loss of Rs 1,629 crore. The loss is, however, lower than the Centre for Asia Pacific Aviation estimate. It had pegged the loss to be between $60 and $80 million (Rs 370 crore and Rs 500 crore).
The period between October and December is a seasonally good quarter for airlines, as it brings in high loads and better revenue because of rise in leisure travel. Yields improved 20 per cent and revenue rose six per cent but the result was adversely impacted due to rupee depreciation and higher fuel cost. Aircraft on ground resulted in an impact of Rs 105 crore. The airline has sold two wide-body A330s and is expected to sell three other aircraft to cut costs. “It is a weak result despite the quarter being good for airlines,” an analyst said.
08/02/14 Business Standard
