Jet Airways: Slippery times
The company posted its first loss in five years as a fall-out of the high fuel costs. The jet fuel prices have increased by more than 50 per cent since January. The company's aircraft fuel expenses increased by 36 per cent to Rs 3,293 crore (Rs 2,428 crore) and the other operating expenses jumped by 37 per cent to Rs 2,579 crore (Rs 1,883 crore) during the financial year.
The company reported standalone net losses of Rs 253.06 crore in FY08 against net profits of Rs 27.94 crore in FY07. The income from operations increased by 25 per cent from Rs 7057.78 crore to Rs 8811.10 crore during the same period.
Jet Airways will enhance its network connectivity from Pune with the launch of its new direct services to Hyderabad, Nagpur and Ahmedabad from July 15.
It will have daily direct flights from Pune to Hyderabad and Ahmedabad, whereas flights between Pune and Nagpur will operate six days a week, excluding Saturdays.
Modern, 62-seater French made turbo-prop ATR 72-500 aircraft will be used on the new routes, thus providing the highest levels of cabin comfort.