Jet Airways announces Q3 FY12 results, reports operating profit of $40 million

Jet Airways recently announced its Q3 FY12 operational results and sounded rather upbeat. The airline reported operating profit of $40 million for the period.

However, Jet Airways at the same time also said that despite Q3 being traditionally the strongest quarter, the airline has been impacted by Indian rupee depreciation and high fuel costs.

The airline said that despite these adverse factors it has succeeded in posting an operating profit due to yield improvement and other cost reduction initiatives taken during the quarter.

Jet Airways also said that it continues to maintain an unassailable lead and holding on to its leadership position in the Indian aviation industry with the highest market share of 26.5 percent for Q3 FY12.

The airline reported Q3 FY12 passenger traffic growth of 13.4 percent as compared to the same period last year.

The airline said that there has been a steady increase in its business class bookings over the last few weeks. There has been no major slowdown in its international bookings into and out of Europe and North America.

Jet Airways currently operates flights to 76 destinations in India and beyond, including New York (both JFK and Newark), London (Heathrow), Milan, Abu Dhabi, Bahrain, Johannesburg, Kathmandu, Kuala Lumpur, Bangkok, Brussels, Colombo, Dammam, Dhaka, Doha, Dubai, Hong Kong, Jeddah, Kuwait, Muscat, Riyadh, Sharjah, Singapore and Toronto.