Jet Airways More Than Doubles Net Income At Rs 53.5 Crore In Q1

The second largest airline Jet Airways on Tuesday said its standalone net income more than doubled to Rs 53.5 crore in the three months to June against Rs 25.9 crore a year ago in spite of a large one-time provisioning of Rs 56.6 crore.

This is the ninth consecutive profitable quarter for the airline after the recovery driven by a rising market and a low fuel price regime since mid 2014.

Total income of the Naresh Goyal-promoted airline rose to Rs 5,953 crore from Rs 5,341 crore, an increase of 11.3 percent driven by increased load factor and an average rise in fares, which was also boosted by increased codeshares with international airlines.

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