Troubles at Kingfisher and Air India are pulling other airlines out of red. After SpiceJet, Jet Airways has announced a profit of Rs 36.4 crore in the April-June quarter after five consecutive loss-making quarters. Jet had posted a loss of Rs 123.2 crore in Q1 of last fiscal.
SpiceJet had reported a profit of Rs 56 crore for the April-June quarter as against a loss of Rs 72 crore in the same period last fiscal after five loss-making quarters. Even as domestic air travel is now slackening, Kingfisher’s drastic reduction of flights has meant an upward swing for other carriers.
Jet reported a 10% increase in Q1 passenger growth and the total revenue of the group rose 31.4% to Rs 5274.8 crore over the same period last year. The airline cited depreciating rupee against dollar, escalating jet fuel prices and higher charges at Delhi airport as the factors that pushed up operational costs. This was, however to some extent, offset by yield improvement (higher fares), increase in demand and cost control measures.