Jet Airways second-quarter profit slumps 91 percent

Postado Dezembro 07, 2017

In the Q2 of 2017-18, the Naresh Goyal-owned airlines saw its total sales decline to Rs 5,758.18 crore in the quarter as compared to Rs 5,772.79 crore in same quarter of previous fiscal.

Income on this account stood at Rs 190.22 crore in the quarter, the airline said.

Ltd, the country's second-largest airline, reported a 91 percent slump in quarterly profit on Thursday, hurt by higher fuel expenses.

The fall in the profit has been attributed to the inability to offset the rise in jet fuel prices.

"In line with our commitment to offer guests a superior experience, we continue to grow our domestic presence while keeping a tight control on costs, reflecting in the reduction in non-fuel CASK".

Jet Airways also carried 7.7 per cent more passengers at 7.29 million in the September quarter over the same quarter of 2016-17, the release said.

Other income fell 59 per cent to Rs 131.57 crore in the reporting quarter, from Rs 319.58 crore a year-ago period, according to the filing.

Significantly, the Mumbai-based carrier had last month announced a new enhanced cooperation agreement, which primarily deepens the already existing codeshare partnership signed in 2014.