Jet Airways Q1 2017-18 net profit up more than 100%

Jet Airways Q1 2017-18 net profit up more than 100%

Jet Airways on Tuesday reported a rise of 106.72 per cent in its net profit for the first quarter of 2017-18.

According to the company, its net profit rose to Rs 53.50 crore from Rs 25.88 crore reported for the corresponding quarter of 2016-17.

Jet Airways Chairman Naresh Goyal said: “Jet Airways took several focused measures to revitalise its business and realise greater efficiencies in spite of weakening international demand, especially from the Gulf.”

“Low fares, together with addition of capacity in the domestic market, continues to put pressure on yields. We have taken definite steps to strengthen our key performance indicators, including increasing our domestic footprint by enhancing connectivity and choice for guests not just between our hubs and metros, but also between emerging cities.”

The airline announced its plans to launch three new international flights wef from October 29, 2017, to Amsterdam, Paris and London, from Bengaluru, Chennai and Mumbai, respectively.

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