Jet Airways Group reported 26% improved performance for the first quarter ending 30 June 2014
Compared to the same quarter of the previous financial year; Jet Airways’ financial performance improved by INR M 904 or 26 per cent.
The net loss before taxes is INR M 2,580 compared to a net loss of INR M 3,485.
The total number of revenue passengers who travelled with Jet Airways increased by 4.3 per cent to 5.19 million from 4.98 million, with passenger load factor increasing by 2.3 percentage points from 77.9 to 80.2 as the airline gained new customers.
Overall RASK (revenue per available seat kilometre) in Q1 FY15 increased by 6.4 per cent to INR 4.68 from INR 4.40. While domestic RASK rose by 7.4 per cent to INR 5.53 from INR 5.15, international RASK increased by 8.2 per cent to 4.18 from 3.86, reflecting the strengthening of the international operations of the airline.
The cargo performance provides further critical proof of the turnaround at Jet Airways. The 10.2 per cent increase from INR M 3,297 to INR M 3,633 in cargo revenues was driven largely by the new commercial collaboration, which includes a common suite of products, shared freighter operations and procurement.
Naresh Goyal, Chairman of Jet Airways, said: “We are taking stringent measures to operate in an industry which continues to face tough challenges, and while there are no short-term solutions, I am very pleased with the demonstrable progress we have made in several areas.
Jet Airways and Etihad Airways now operate shared freighter operations, with capacity sharing on the Hong Kong to Delhi route and on the recently launched route between Mumbai and Noi Bai in Hanoi. Joint procurement in cargo handling has already generated considerable savings amounting to more than INR M 21 per year.