India’s airlines are showing signs of improvement in their latest results, helped by lower oil prices and efforts to boost their performance.
SpiceJet on Tuesday reported a net profit of 718 million rupees (Dh41.2m) in the quarter between April and June compared to a loss of 1.24 billion rupees in the same period a year earlier.
This was driven by lower fuel prices and more efficient use of the airline’s fleet.
Mahesh Sharma, the minister of state for civil aviation, a day earlier revealed that Air India had reduced its net losses to 55.47bn rupees in the last financial year to the end of March compared to 75.59bn rupees in the financial year of 2011 to 2012, helped by improvements in seat factors and on-time performance. Edelweiss Securities, based in Mumbai, has predicted a profit of 343m rupees for Jet Airways in the quarter to the end of June compared to a loss of 2.17bn rupees a year earlier.
“The domestic aviation industry has seen strong growth in this quarter,” Edelweiss said. “In line, we expect Jet Airways to report a 28 per cent year-on-year growth in passengers. The benefit of lower fuel costs will reflect in this quarter also.”
01/08/15 Rebecca Bundhun/The National
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SpiceJet on Tuesday reported a net profit of 718 million rupees (Dh41.2m) in the quarter between April and June compared to a loss of 1.24 billion rupees in the same period a year earlier.
This was driven by lower fuel prices and more efficient use of the airline’s fleet.
Mahesh Sharma, the minister of state for civil aviation, a day earlier revealed that Air India had reduced its net losses to 55.47bn rupees in the last financial year to the end of March compared to 75.59bn rupees in the financial year of 2011 to 2012, helped by improvements in seat factors and on-time performance. Edelweiss Securities, based in Mumbai, has predicted a profit of 343m rupees for Jet Airways in the quarter to the end of June compared to a loss of 2.17bn rupees a year earlier.
“The domestic aviation industry has seen strong growth in this quarter,” Edelweiss said. “In line, we expect Jet Airways to report a 28 per cent year-on-year growth in passengers. The benefit of lower fuel costs will reflect in this quarter also.”
01/08/15 Rebecca Bundhun/The National
