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1-Jun-2015 10:07 AM

Jet Airways: Three-year turnaround plan is 'on-track'

Jet Airways chairman Naresh Goyal stated (29-May-2015) it's three-year turnaround plan "is on track", as the airline reported a 60% reduction in operating loss to INR8.3 billion (USD130 millon) for the 2015 fiscal year. Jet Airways attributed the performance to a network optimisation programme, its strategic partnership with Etihad Airways, improved aircraft utilisation, targeting premium traffic as well its full service branding strategy. Mr Goyal advised: "FY15 was an encouraging year when we set out to change the fundamentals of this business, allowing us to deliver a significant improvement in our net result. While the Indian aviation market is still subject to ongoing structural challenges and robust competition is placing pressure on yields, we will continue to progress by focusing on delivering an enhanced experience for our guests and improving efficiency throughout the business." [more - original PR]

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