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Jet Airways revenue down 4.5%, reports first profit in three quarters in 3QFY2010

27-Jan-2010 12:30 PM

Jet Airways revenue down 4.5% - financial/traffic highlights for the three months ended 31-Dec-2009:

  • Total revenue: USD629.2 million, -4.5% year-on-year;
  • Total cost: USD571.5 million, -16.6%;
    • Fuel: USD193.6 million, -18.8%;
    • Selling and distribution: USD63.8 million, +0.5%;
    • Labour: USD63.2 million, +20.6%;
    • JetLite: USD93.3 million, +14%;
  • EBITDAR: USD155.6 million, +99.5%;
    • JetLite: USD17.2 million, +54.8%;
  • Profit before tax: USD23.1 million, compared to a loss of USD54.5 million in the previous corresponding period;
  • Net profit: USD23.1 million, compared to a loss of USD46.7 million in the previous corresponding period;
    • JetLite: USD850,414, compared to a loss of USD4.8 million in the previous corresponding period;
  • Passenger numbers: 3.4 million, +33.2%;
    • JetLite: 980,000, +21.5%;
  • Passenger load factor: 80.0%, +13.8 ppts;
    • JetLite: 78.8%, +11.0 ppts;
  • Breakeven load factor: 77.8%, -6.2 ppts;
    • JetLite: 78.0%, +6.5 ppts;
  • Breakeven load factor ex fuel: 46.9%, -4.7 ppts;
    • JetLite: 45%, +3.6 ppts;
  • Revenue per RPK: USD 7.96 cents, -20.4%;
    • JetLite: USD 8.29 cents, -12.0%;
  • Cost per ASK: USD 6.19 cents, +13.6%;
    • JetLite: USD 6.32 cents, -3.5%;
  • Cost per ASK ex fuel: USD 3.73 cents, +11.6%;
    • JetLite: USD 3.71 cents, -4.0%. [more]

*Based on the conversion rate at USD1 = INR45.86

Jet Airways: “Airlines have achieved high levels of seat factors as well as yield growth. The industry traffic grew by 29% in 3QFY2010 as compared to 3QFY2009…our cost initiatives are leading to lower cost per ASK while we continue to focus on premium traffic and improvements in revenues per departure,” Company statement. Source: Jet Airways, 25-Jan-2010.