Date:25/06/2008 URL: http://www.thehindubusinessline.com/2008/06/25/stories/2008062552610100.htm

Jet posts loss in Q4 despite higher income

Skyrocketing aviation turbine fuel prices, slowdown in domestic demand and losses from operations on certain international routes have led Jet Airways to post a loss of Rs 221 crore for the fourth quarter ended March 31, 2008 against a net profit of Rs 88 crore, a year ago.

However, the total income for the same period grew 37 per cent to Rs 2,727 crore (Rs 1,989 crore) on account of growing international operations. The overseas load factor, however, has seen a dip as high oil prices are marginally affecting the demand .

Domestic load factor stood at 74 per cent (70.3), while international load factor was at 69 per cent (76.6)

Revenues from international operations grew 42 per cent (Rs 1,160 crore) from 23.7 per cent (Rs 469 crore) in the same period last year. Domestic operations accounted for 58 per cent (Rs 1,600 crore) compared to 76.3 per cent last year (Rs 1,509 crore).

The company said that globally, the aviation industry was bearing the brunt of rising crude oil prices.

The fuel cost for the quarter was higher by Rs 128 crore compared to last year due to rise in ATF prices and increased number of long-haul flights.

The consolidated net loss for the full year ended March 31, 2008 including its 100-per cent subsidiary, Jetlite, was Rs 654 crore while the total income stood at Rs 10, 921 crore. This is the first time the company is declaring consolidated figures, it acquired Air Sahara and turned it into its low fare arm, Jetlite,

Jet's standalone losses for FY08 were Rs 253 crore against a profit of Rs 28 crore last year.

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