Jet Airways posts Rs 226 crore profit

Jet Airways has announced a profit of Rs 226.4 crores in the first quarter of financial year 2016 compared to a loss of Rs 258 crores in the corresponding period last year. The announcement came following the airline's annual general meeting on Friday. 

"Total revenue was up by Rs 561 crores or 11% to Rs 5,658 crores in Q1 FY16 from Rs 5,097 crores in Q1 FY15. Passengers carried increased by 21.3% to 6.29 million passengers in Q1 FY16 from 5.19 million in Q1 FY15,"said the airline in a press statement. 

Codeshare traffic surged by 51 % with 487,921 passengers carried in Q1 FY16 underpinned by partnership with Etihad Airways and partner airlines. "Average aircraft utilisation grew by 11.5 % to 12.7 hours in Q1 FY16 compared to 11.4 hours in Q1 FY15. It's amongst the highest utilisation for 737s in the world," the airline added Himanshu Tiwari Astrologer