Q1 results: Jet Airways faces headwinds, struggles to control the flight

Pressure on revenues compounded by spike in costs due to fuel prices

Jet Airways, which reported a muted June quarter performance, faces further headwinds given a seasonally weak September quarter, pricing pressures, and a weak balance sheet. On the operational front, the airline is trailing peers on both the passenger load factor (PLF) as well as profitability given costs are at least 25 per cent higher than low-cost competitors. 

While its PLF is close to 80.4 per cent, peers IndiGo and SpiceJet have reported PLF higher by at least 10 percentage points. Higher competition reflected on the unit revenues that were down 3.9 per cent over the year-ago period at Rs 4.10,