Jet Airways is flying high on the earnings front

Jet Airways is flying high on the earnings front. It surprised analysts with its fourth quarter results, helped by a Rs 350 crore CENVAT write back.

The company has reported a fourth quarter net profit of Rs 53 crore, against a loss of Rs 221 crores in the previous quarter. The income from operations came in at Rs 2,263 crore versus Rs 2,687 crore.
The company reported an EBITDA of Rs 105 crore against a loss of Rs 8.67 crore in the earlier quarter.

Wolfgang Prock Schauer, CEO of Jet Airways feels that there is a continued pressure on the yields. He said that there is an 18% decline in yields over Q3. Also the load factor is in the mid-60s. As a result of that, the results in domestic are not where the company wanted them to be. The airlines industry is coming now into the lean season. So, that will put further pressure on the company’s domestic operations’ yields, he added.

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