New Delhi: There is some oxygen for the choking Indian airline industry. Two positive factors - domestic air travel growing at almost 30% and sharp fall in jet fuel prices - are bringing the industry back from the brink, at a time when some players were staring at emergency exits.
India's only profitable airline IndiGo reported on Thursday its highest ever net profit of Rs 1,304 crore for FY15 on an enhanced top line of Rs 14,320 crore. Reason: IndiGo did not resort to indiscriminate discounts and maintained a pricing discipline by consistently offering low - but not suicidally low - fares.
Another profitable Indian airline, Wadia Group's GoAir, is also expected to post its highest ever profit in the last fiscal, likely to be significantly better than Rs 146 crore in FY14.
Jet Airways and SpiceJet saw their losses coming down. Jet managed to bring down its loss by 49% to Rs 2,097 crore in FY15, compared to Rs 4,130 crore in the previous fiscal. SpiceJet has reported profits in the last two quarters with its founder Ajay Singh returning to the low-cost carrier earlier this year.
12/09/15 Saurabh Sinha/Times of India
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India's only profitable airline IndiGo reported on Thursday its highest ever net profit of Rs 1,304 crore for FY15 on an enhanced top line of Rs 14,320 crore. Reason: IndiGo did not resort to indiscriminate discounts and maintained a pricing discipline by consistently offering low - but not suicidally low - fares.
Another profitable Indian airline, Wadia Group's GoAir, is also expected to post its highest ever profit in the last fiscal, likely to be significantly better than Rs 146 crore in FY14.
Jet Airways and SpiceJet saw their losses coming down. Jet managed to bring down its loss by 49% to Rs 2,097 crore in FY15, compared to Rs 4,130 crore in the previous fiscal. SpiceJet has reported profits in the last two quarters with its founder Ajay Singh returning to the low-cost carrier earlier this year.
12/09/15 Saurabh Sinha/Times of India
