01-May-2006 11:45 AM
India's Jet Airways yr to March net profit up 15 pct
BOMBAY (XFNews-ASIA) - Jet Airways, India's largest private airline, announced that its net profit rose 15 pct in the year ended March on air-traffic growth and profit from the sale and leaseback of planes.
The airline reported a net profit of 4.5 bln rupees for the year, as revenue rose 39 pct to 61.4 bln rupees.
Fourth-quarter net profit soared 71 pct to 2.2 bln rupees, on revenue which jumped 61 pct to 19.7 bln rupees.
Jet Airways chairman Naresh Goyal said in a statement said the results were strong but cautioned that high oil prices and other operational costs could affect future performance.
"We remain the market leader .... but operate in a challenging environment. We are concerned with the high level of input costs, primary fuel, and expect that the coming year could remain challenging," he said.
Jet, which will command half of India's aviation market after its planned 500-mln usd purchase of rival Air Sahara, faces increasing competition from low-cost carriers such as Air Deccan, GoAir and SpiceJet.
"In coming months, we will be working towards successfully integrating Air Sahara operations into our own," Goyal told reporters.
Fourth-quarter net profit soared 71 pct to 2.2 bln rupees, on revenue which jumped 61 pct to 19.7 bln rupees.
Jet Airways chairman Naresh Goyal said in a statement said the results were strong but cautioned that high oil prices and other operational costs could affect future performance.
"We remain the market leader .... but operate in a challenging environment. We are concerned with the high level of input costs, primary fuel, and expect that the coming year could remain challenging," he said.
Jet, which will command half of India's aviation market after its planned 500-mln usd purchase of rival Air Sahara, faces increasing competition from low-cost carriers such as Air Deccan, GoAir and SpiceJet.
"In coming months, we will be working towards successfully integrating Air Sahara operations into our own," Goyal told reporters.