Jet Airways to Increase Capacity Starting April 2013

Thursday, 8th November 2012 at 11:39am

Beginning April 2013, Jet Airways will augment capacity of some of its flights as they start taking delivery of new planes. This, according to Sudheer Raghavan, the Chief Commercial Officer of the India's largest airline, during a conference call early this week.

The carrier was able to trim down its losses for the second quarter this year by 86%, thanks in part to growth in its operating income. As a result, its shares shot up last weekend, its second in as many sessions.

The airline managed to pull down its September quarter loss to Rs 100 crore, from a high Rs 713.6 crore, on a year-on-year basis, especially a gain derived from forex of Rs 69.6 crore. Jet Airways posted a forex loss of Rs 276 crore in the same period last year. Its income from operations grew to Rs 3,755.3 crore or 20%, year-on-year, compared to last year.

The carrier managed to post a 14.6% increase of its EBITDA, as against 4%, year-on-year.

According to its Vice-President for Commercial Strategy and Investor Relations, K.G Vishwanath, Jet Airways has been aggressively looking for ways to stem losses as well as improve efficiency in its operation, stemming losses on unpopular routes and increase revenues on supplementary services. The airline is also embarking on an aircraft-leasing program to keep more cash flowing in.

By: Pete Lee.