Abu Dhabi: India's Jet Airways announced that it had earned profits for a fifth successive quarter ending June 30, 2016, on increased efficiency and reduction in cost, including non-fuel expenses.
A consistent financial performance has enabled Jet Airways to reduce its debt by $53 million during Q1 of FY 17.
Cost per available seat kilometre, excluding fuel, dropped by 1.2 per cent to US cents 4.77 in Q1 FY 17.
The company reported a net profit of $19 million in Q1 of FY17 compared to $36 million in the corresponding period of the previous year.
Naresh Goyal, chairman of Jet Airways, said: "Jet Airways has strengthened its core operations and achieved better capacity utilisation and greater efficiency. We have been able to report lower non-fuel cost in spite of inflationary increases and weakening of the Indian rupee against the US dollar by almost six per cent."
13/08/16 Khaleej Times
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A consistent financial performance has enabled Jet Airways to reduce its debt by $53 million during Q1 of FY 17.
Cost per available seat kilometre, excluding fuel, dropped by 1.2 per cent to US cents 4.77 in Q1 FY 17.
The company reported a net profit of $19 million in Q1 of FY17 compared to $36 million in the corresponding period of the previous year.
Naresh Goyal, chairman of Jet Airways, said: "Jet Airways has strengthened its core operations and achieved better capacity utilisation and greater efficiency. We have been able to report lower non-fuel cost in spite of inflationary increases and weakening of the Indian rupee against the US dollar by almost six per cent."
13/08/16 Khaleej Times
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