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Jet Airways annual net loss narrows.

Jet Airways, India's largest private carrier, said annual net loss more than halved due to lower fuel costs and a revival in domestic travel industry.

On a consolidated basis, the company reported an annual net income from operations of 108.96 billion rupees for the period ended March 31, compared with 126.55 billion rupees, reported a year ago.

The company recorded a net loss of 4.2 billion rupees for the year ended March 2010, as compared to a loss of 9.6 billion rupees loss a year ago.

On a stand-alone basis, for the quarter ended March 2010, the company's net profit increased to 586 million rupees from 530 million rupees. Revenue rose 12 percent to 28.77 billion rupees.

The Jet group has market share of 25.8 percent in the Indian aviation industry.

&nbsp;"We are seeing healthy seat factor for May 2010. The trends for next few months look healthy and the capacity situation has been under control for the last few months." Company said<br />Jet Airways said "it is seeing a premium demand revival and that it expects to continue over the next few quarters."

On Friday, the company shares fell 1.75 percent to 486.55 rupees on BSE.

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Publication:International Business Times - US ed.
Article Type:Financial report
Geographic Code:9INDI
Date:May 21, 2010
Words:207
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