The Jet Group flew back into black by reporting a profit of Rs 93.1 crore for the quarter ended December 31, 2012, as against to a loss of Rs 123 crore in same period last quarter. Earlier, low-cost carrier SpiceJet had also reported a profit of Rs 102 crore for Q3 FY13 against a loss of Rs 39 crore for same period in the previous financial year.
Higher yields, driven by higher fares, played a key role in these two airlines flying back into the black in Q3. The Jet Group’s revenue grew 5.5% in the quarter to Rs 4,770 crore, of which less than half — Rs 1,866 crore — came from domestic operations.
Meanwhile, Jet promoter Naresh Goyal and Etihad CEO James Hogan met finance minister P Chidambaram about their impending deal.
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