Jet Airways Q2 profit at Rs 83 cr vs loss a year ago on strong passenger traffic growth

New Delhi: Private carrier Jet Airways posted a consolidated net profit of Rs 83 crore in the second quarter of this fiscal, ended 30 September, against a net loss of Rs 42.8 crore a year-ago period, helped by healthy 26.3 percent growth in passenger traffic coupled with improved aircraft utilisation by the airline. [caption id=“attachment_2204788” align=“alignleft” width=“380”]  A Jet Airways aircraft. Reuters[/caption] The total sales grew by 8.1 percent to Rs 5,504 crore in the July-September quarter of the current fiscal as compared to Rs 5,092 crore in Q2FY15, the company said in a release. Jet Airways carried a total of 6.37 million passengers in the quarter, an increase of 26.3 per cent from 5.04 million passengers flown by the airline in the corresponding quarter of the previous fiscal, it said, adding average aircraft utilisation also grew by 9.9 per cent to 12.6 hours during this period. “It is encouraging to report a profit in the second quarter, which is traditionally a lean season for the aviation sector…The growth in passengers flown by Jet Airways and the improved aircraft utilisation have been significant contributors to the performance in the second quarter,” Jet Airways chief executive Carmer Ball said. While the robust competition in the Indian aviation sector continues to put pressure on yields, Jet Airways has continued to make progress by focusing on improving operational efficiency throughout our business, he said. The Indian domestic aviation market is witnessing robust growth with traffic growing by 20 percent, Jet Airways chairman Naresh Goyal said. “Jet Airways is committed to contributing to this growth by providing enhanced connectivity and a full-service travel experience to our guests. Our financial performance in the second quarter clearly demonstrates that our efforts are showing positive results,” he said. PTI