25-May-2012 12:00 PM

Jet Airways reports losses in FY2012

Jet Airways revenue up 16% – financial highlights for 12 months ended 31-Mar-2012:

  • Total revenue: INR149,941 million (USD3117 million), +15.9% year-on-year;
  • Total costs: INR165,016 million (USD3431 million), +26.2%;
    • Fuel: INR66,307 million (USD1379 million), +51.8%;
    • Labour: INR15,995 million (USD332.6 million), +19.4%;
  • Profit (loss) before tax: (INR12,553 million) (USD261.0 million), compared to a profit of INR465 million (USD9.7 million) in p-c-p;
  • Net profit (loss) after tax: (INR12,361 million) (USD257.0 million), compared to a profit of INR97 million (USD2.0 million) in p-c-p;
  • Passenger numbers: 17.3 million, +18.0%;
  • Passenger load factor: 79.3%, +0.7 ppt;
  • Breakeven load factor: 89.4%, +9.4 ppts;
  • Yield: INR3.86 (USD 8.03 cents), +6.0%;
  • Cost per ASK: INR3.45 (USD 7.17 cents), +18.4%;
  • Cost per ASK excl fuel: INR1.73 (USD 3.60 cents), +5.7%;
  • Fleet: 102 aircraft, +5.2%;
  • Total assets: INR210,201 million (USD4370 million), +1.6%;
  • Total liabilities: INR196,983 million (USD4096 million), +8.9%. [more – original PR]

*Based on the average conversion rate at USD1 = INR48.0972

Jet Airways: "Capacity reduction in the industry has helped the domestic airlines to increase fares and improve yields. The full impact of the same would be felt in the current quarter. We have not seen any adverse effect on the passenger traffic flow. Rupee depreciation and Crude Oil prices continues to be a cause of concern. This coupled with sluggish economy could impact traffic growth to some extend in the short to medium term as the discretionary spending on travel could get affected. Our International business continues to be robust and we are achieving healthy seat factors. We are focusing on network rationalization, selectively adding flights to profit making markets such as Gulf & Middle East and ASEAN routes and discontinuation of loss making routes." Source: Company statement, 24-May-2012.

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