Company Watch - Jet Airways.

Jan 22, 2007

Jet Airways Swings Back To Profit. Jet Airways, India's largest domestic carrier, on Friday announced a return to profit in its fiscal third quarter, helped by softer aviation fuel costs and its growing international operations. Jet, which has more than a third of the fast-growing but competitive domestic market, said net profit for the fiscal third quarter fell 34 percent to INR400.4 million rupees (USD$9.1 million) from INR610 million (USD$13.8 million) reported a year earlier. Its revenue rose 31 percent to INR19.36 billion (USD$438.4 million) from INR14.78 billion (USD$334.7 million). Jet had reported losses for the two previous quarters on high fuel costs. A fuel surcharge on tickets and income from sale and lease back of aircraft helped improve margins in the quarter. Jan 19, 2007

Jet has seen its share of the domestic market slip on rising competition from newly launched discount carriers, but it is adding overseas routes and expects half its revenue to come from its overseas operations by March 2009. Jet has a fleet of 60 aircraft that it will expand to 89 by March 2009. It will add more routes in southeast Asia and launch US services in August. Jan 19, 2007

Jet Airways will expand its international network this month to Bangkok, with flights to the US set to commence later this year. Jet told media that it plans to launch services to Newark in August and to San Francisco via Shanghai in November. It will operate A330s on the Bangkok route and 777-300ERs to the US. It currently flies to London Heathrow, Kuala Lumpur, Colombo, Kathmandu and Singapore. This week it inked a codeshare agreement with Thai Airways. Jan 11, 2007

Jet Airways has flights from India to London, Singapore, Kuala Lumpur, Colombo, and Kathmandu. The 13-year-old airline said in a statement it planned to expand its current fleet to 89 aircraft by March 2009 from 60 now. Jet Airways would finance its current and future aircraft purchases by a combination of its own internal funds, commercial loans and possible future share floats, Goyal said without giving further details. Jan 9, 2007

Jet Airways, India's biggest domestic airline, said it will expand its international operations with new flights to Bangkok in late January and flights to the United States later this year. Jet Airways said on Tuesday it plans to launch a regular US service in August, flying to Newark, New Jersey, and to San Francisco via Shanghai in October, executives said. The airline will use eight new Boeing 777s and five Airbus A330s, already ordered, on its international routes this year on top of six Boeing 737s for its Indian domestic service, chairman Naresh Goyal told reporters. Jan 9, 2007

Jet Airways, is investing USD$2.5 billion in new aircraft and training over the next three years and has said it would cut costs through greater on-line ticket sales and better staff management. Jan 9, 2007

Jet Airways raised USD$434 million in an initial public offering in 2005. It reported a USD$26 million loss for the six months ended September 30 after years of healthy profits. Jan 9, 2007

JetBlue Airways flew 2.03 billion RPMs in December, a 9.8% rise over the year-ago month. Capacity climbed 14.6% to 2.56 billion ASMs and load factor fell 3.5 points to 79.4%. Jan 8, 2007 01/22/2007

Editor: Aram Gesar, eMail: [e-mail] For Air Transport & Travel Business Experts contact eMail: [e-mail]

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Jan 8, 2007