• Jet Airways back in black in FY16

    Riding on reduced expenses, Jet Airways has posted a profit of ?397 crore on a standalone basis for the quarter ended March 31, against a loss of ?1,728 crore in the comparable quarter of the previous year Income from operations increased 4 per cent to ?4,842 crore (?4,626 crore).

    For FY16, net profit was ?1,173 crore against a loss of ?1,813 crore in the previous year. Income from operations stood at ?19,556 crore (?18,044 crore).

    The company in a media statement said that the cost per available seat kilometre (CASK) excluding fuel dropped 3.2 per cent, which helped achieve operational efficiencies throughout its business. The better financial performance has enabled the company to reduce its debt by ?1,680 crore during FY16.

    Jet Airways Chairman Naresh Goyal said in a statement that the airline has been revitalised over the past two years. The company’s focused efforts have resulted in significant improvement in operational performance.

    The Indian aviation industry is witnessing a growth phase but the competitive and structural challenges in the domestic market continue to exist.

    The induction of capacity and the enhanced competitive scenario are creating a constant pressure on yields, he added. John Greco Authentic Jersey

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