The Jet Group has reported a loss of Rs.43 crore in the July-Srptember 2014 quarter, down 96% from a loss of Rs.999 crore in same period last fiscal. On a standalone basis (not including JetLite), Jet Airways reported a profit of Rs.70 crore as compared to a loss of Rs.891 crore last year. The group's combined revenue rose by Rs.613 crore to Rs.5,092 crore in Q2 FY15 from Rs.4,480 crore in same quarter last year.
Jet attributed the improved performance to its partnership with Abu Dhabi's Etihad and said it is in line with the threeyear turnaround plan drawn up for Naresh Goyal's airline.
Jet CEO Cramer Ball said: "The operational restructuring initiatives with route and network rationalisation are already yielding dividends on the domestic and international network. The organic network expansion, coupled with enhanced global connectivity through alliances and codeshares, has also helped increase international pa ssenger traffic.... our move to a single brand by December will help provide our guests with exceptional value and a significantly enhanced and consistent product offering."
Jet attributed the improved performance to its partnership with Abu Dhabi's Etihad and said it is in line with the threeyear turnaround plan drawn up for Naresh Goyal's airline.
Jet CEO Cramer Ball said: "The operational restructuring initiatives with route and network rationalisation are already yielding dividends on the domestic and international network. The organic network expansion, coupled with enhanced global connectivity through alliances and codeshares, has also helped increase international pa ssenger traffic.... our move to a single brand by December will help provide our guests with exceptional value and a significantly enhanced and consistent product offering."
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