Jet Airways posts Rs. 226.4 cr profit in Q1

The company's total revenue was up by INR  561 crores or 11% to INR 5,658 crores in Q1 FY16 from INR 5,097 crores in Q1 FY15.

"Passengers carried increased by 21.3% to 6.29 million passengers in Q1 FY16 from 5.19 million in Q1 FY15," the company said in a statement.

"Codeshare traffic surges by 51 % with 487,921 passengers carried in Q1 FY16 underpinned by partnership with Etihad Airways and partner airlines," it said.

The company's average aircraft utilisation growed by 11.5 % to 12.7 hours in Q1 FY16 compared to 11.4 hours in Q1 FY15.

Naresh Goyal, Chairman of Jet Airways said: "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."

“All the major key performance indicators have shown progress as we continue to focus on customer satisfaction, network enhancement and improvement through efficiency," he said.

Cramer Ball, Jet Airways’ Chief Executive Officer, said: "Despite the increasingly competitive domestic landscape driven by aggressive new market entrants, our market share in India went up by 1.1 percentage points to 21.9 %. This means that one in every five domestic passengers flew on Jet Airways."

“Our customers have embraced the changes we have made. This is a strong endorsement of our single brand full service product complemented by the ‘Guest First’ approach to service and hospitality, and validates our considerable investment in product enhancements in the air and on the ground," Ball said.