Jet Airways Group’s results for the first quarter of 2015 suggest that its three year turnaround programme is working.
The Mumbai based group, part-owned by Etihad Airways, saw total revenue increase by 11 per cent in the first quarter, to 56,580,000,000 rupees ($865,967,815). Jet recorded a profit of 22.6 billion rupees, a significant improvement on the 2.5 billion rupee loss seen in the same period last year.
“Our performance in the first quarter of this financial year demonstrates once again that the measures we are taking to bring the business back to profitability are having the desired result,” says Jet Airways’ chairman, Naresh Goyal. “All the major key performance indicators have shown progress as we continue to focus on customer satisfaction, network enhancement and improvement through efficiency.”
Synergies with partner carriers and the implementation of a consistent brand strategy across the entire domestic operation are said by the airline to have contributed to Jet’s improved results.
Jet operates a fleet of 116 aircraft, flying to 73 destinations in India and beyond. As a member of Etihad Airways Partners, Jet says it benefits from, “synergies,” achieved through joint maintenance and ground handling facilities, cabin crew training and common procurement of aircraft, fuel, and insurance.
“The competitive and structural challenges in the Indian aviation market continue to put pressure on our yields and costs. In addressing these, we continue to focus on leveraging the commercial and operational synergies through our partnership with Etihad Airways”, says Jet’s chief executive officer, Cramer Ball.