Jet Airways said its standalone quarterly net profit fell 91 per cent as it didn’t clock any gains on sale and lease of back planes like a year earlier, and failed to keep a check on most of its cost heads. The carrier posted a net profit of Rs 46.01 crore compared to Rs 517 crore a year earlier.
Vinay Dube, Chief Executive Officer, Jet Airways, said, “The weak demand in the Gulf continues, whilst low fares as well as yields in the domestic market have limited the ability to offset the increase in fuel prices. In line with our commitment to offer guests a superior experience, we continue to grow our domestic presence while keeping a tight control on costs, reflecting in the reduction in non-fuel CASK.
Jet Airways also derived significant operational and business advantages via synergies with its strategic partner – Etihad Airways, as well as other codeshare partnerships, carrying a growing and significant number of global travellers across its 64 destination network, including gateways at Abu Dhabi, Amsterdam, Paris and London.”
Jet Airways continued to take steps to strengthen its domestic network footprint by augmenting services between emerging cities such as Jaipur, Lucknow, Chandigarh, Dehradun, Udaipur and Indore during the quarter, in order to facilitate the rising demand as well as travel aspirations of guests from these fast-growing cities.
The airline’s focus in connecting global travellers as a result of its cooperation with codeshare partners such as Air France-KLM, Virgin Atlantic and Delta Air Lines, drew robust dividends and the airline’s percentage of alliance revenues went up by 8% during the recent Quarter.
