Jet Airways flies high as Q2 loss narrows; up over 3%

NEW DELHI: Jet Airways Ltd surged over 3 per cent in morning trade on Monday after the airliner posted a net loss of Rs 166 crore ( Rs 100 crore for Jet Airways and Rs 66 crore for low-cost JetLite) for the second quarter that ended in September, narrowing down it losses from Rs 713 crore for the same quarter last year.

At 10:40 am, Jet Airways was trading 3 per cent higher at Rs 372. It has hit a low of Rs 365.50 and a high of Rs 376 in trade today.

The September quarter result of the second-largest airline by way of passengers carried reflects the advantages Jet Airways derives from its low-cost carrier operations, unlike its peer Kingfisher Airlines.

The company is also planning ramp up capacity on international routes through a mix of aircraft reconfiguration and deployment the Airbus A330-300 planes, which have about 30 extra seats compared to A330-200, according to media reports.

“The company's decision to cut down on loss-making routes, sale-and-leaseback of aircraft and focus on ancillary revenues enhanced its operational performance in the quarter,” ET said in a report.

For Jet Airways, the full impact of the recent 7 per cent fall in turbine fuel would be seen in the December quarter.

“The company will continue to benefit from an improvement in yields, high-traffic period in the December quarter and strong international traffic,” said the ET report.