Jet Airways Q4 net dips to Rs 221 cr

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New Delhi, Jun 24 (UNI) Country's largest private carrier Jet Airways today said it has registered a net loss of Rs 221.18 crore for the quarter ended March 31, 2008, compared with net profit of Rs 88.01 crore for the previous fiscal.

Total income for Q4 FY08, however, increased 37.1 per cent to Rs 2,727.02 crore against Rs 1,989.03 crore during the same period last year.

It posted a net loss of Rs 253.06 crore for the year ended March 2008 as compared to net profit of Rs 27.94 crore for the previous fiscal.

Total income, however, increased 28.1 per cent to Rs 9,481.51 crore for FY08 from Rs 7,401.31 crore for FY07.

It registered a consolidated net loss of Rs 653.87 crore for the year ended March 31, 2008, while its total income stood at Rs 10,921.27 crore for FY08.

Fuel costs have almost doubled in the fourth quarter after the cost of aviation turbine fuel surged, thus hitting the airline's margins.

The Mumbai-based Jet Airways operates a fleet of 84 aircraft, and also has more than 50 planes on order from Boeing and Airbus.

The airline began flights to Hong Kong, China and West Asia this year, expanding on existing overseas routes including Singapore, Canada and the US. It has recently added a flight to San Francisco from Mumbai, via Shanghai.

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