6-Aug-2012 11:19 AM

Jet Airways reports profits in 1QFY2013, ancillary revenue to become increasing important

Jet Airways revenue up 32% – financial highlights for three months ended 30-Jun-2012:

  • Total revenue: INR47,116 million (USD869.8 million), +31.5% year-on-year;
  • Total costs: INR46,137 million (USD851.7 million), +19.7%;
    • Fuel: INR19,674 million (USD363.2 million), +25.8%;
    • Labour: INR4017 million (USD74.2 million), +11.4%;
  • Profit before tax: INR333 million (USD6.1 million), compared to a loss of INR1568 million (USD28.9 million) in p-c-p;
  • Profit after tax: INR247 million (USD4.6 million), compared to a loss of INR1232 million (USD22.7 million) in p-c-p;
  • Passenger numbers: 4.9 million, +19.5%;
  • Passenger load factor: 82.7%, +4.2 ppts;
  • Breakeven load factor: 82.2%, -4.0 ppts;
  • Breakeven load factor excl fuel: 38.6%, -3.3 ppts;
  • Yield: INR4.39 (USD 8.10 cents), +16.1%;
  • Cots per ASK: INR3.61 (USD 6.66 cents), +10.6%;
  • Cost per ASK excl fuel: INR1.70 (USD 3.14 cents). +7.0%;
  • Fleet size: 103 aircraft, +6.2%;
  • Aircraft utilisation: 11.9, -0.4%;
  • Total assets: INR217,152 million (USD4009 million), +3.3% when compared to period ended 31-Mar-2012;
  • Total liabilities: INR204,503 million (USD3775 million), +3.8% when compared to period ended 31-Mar-2012. [more - original PR]

*Based on the average conversion rate at USD1= INR54.1701 for the period

Jet Airways: “Q2 domestic traffic trends will reflect seasonality in seat factors though yields continue to be strong. The industry capacity growth is expected to be very modest (less than 5% for the year) and this will result in overall yields and seat factors remaining stable for the balance part of the year. Our focus on ancillary revenues has started to show improved results. Initiatives relating to passenger and non passenger ancillaries will start forming a large part of our top line in the next few quarters, by when we plan to increase our ancillary revenues per passenger by 100% of what we are making today.” Source: Company statement, 03-Aug-2012.

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