Jet''s Q3 net soars 11% at Rs 118 cr on high passenger traffic

Mumbai, Feb 2 (PTI) Riding high on the robust growthin passenger traffic and improved yields and load factor, JetAirways'' net profit surged by over 11 per cent at Rs 118.23crore in the third quarter ended December 31 from Rs 105.80crore posted in the year-ago period.

The leading private carrier''s total income rose to Rs3,515.17 crore in the October-December quarter from Rs2,936.42 crore in Q3 FY 10, a Jet release said here today.

The Naresh Goyal-steered airline attributed the surgein net profit for the fifth time in row to the robust growthin the domestic market on the back of healthy GDP growth andcontinued business confidence.

Jet has achieved high levels of seat factors and yieldgrowth as the industry passenger traffic grew 19 per cent inQ3 FY 2011 over the same period of the last year, the releasesaid. "Passenger bookings are showing encouraging trends inthe current quarter."

While domestic traffic for Jet grew by 14 per cent inthe October-December quarter over the same period in FY 10,the international traffic clocked a 18.8 per cent growth.

Besides, the airline recorded a seat factor of 76.9per cent and 80 per cent on its domestic and internationalroutes respectively, it said.

At the same time, the yields grew 6.2 per cent duringthe period under review over the same quarter last fiscal.

"Jet''s international business has now posted severalconsecutive quarters of consistent growth and profitability,reflecting the growing impact of our network synergies, majorstrategic international code shares and customer centricproduct and service focus," the airline said.