by Ameya Joshi Jet Airways, India鈥檚 largest private airline reported its third quarter fiscal year 2014-15 (FY2015) results on February 6, 2015, reporting a wafer thin operating profit after seven consecutive quarters. The airline moved to full service operations in December 2014 and the quarter reflected a mix of full service and low cost operations. Wafer thin profits The airline …
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Analysis: Operational profit eludes Jet Airways in Q2 FY2015, outlook positive
Jet Airways, India鈥檚 largest private airline recently announced results for the second quarter (Q2) and the half-year (1H) for fiscal 2014~2015. The results were the first after a joint announcement with 24% stake holder Etihad Airways PJSC about the airline ceasing operations of its low cost JetKonnect brand exiting the segment. The Jet Group operates two airline operator licenses. 9W …
Read More »Spicejet pre-tax loss narrows to Rs 124 crore in Q1 FY2015. Company says due to restructuring.
Embattled low fare carrier SpiceJet, reported a loss before tax of Rs 124.10 crore (approx. $20.8 million) for the first quarter of fiscal 2014~2015, ended June. This compared to the profit of Rs 50.56 crore in the same quarter a year earlier. Total income from operations fell to Rs 1,691.04 crore down from Rs 1,701.54 crore in the same quarter …
Read More »Jet Airways trims losses 39% ups revenue 17% on Etihad lifeline; to discontinue JetKonnect
India’s largest private airline, Jet Airways, trimmed its losses by almost 39% to Rs.217 crore (approx. US$ 36.17 million at an exchange rate of Rs.60=$1), in the first quarter of fiscal 2014~2015 which ended on June 30, 2014, when compared to the same period a year ago. Much of this performance increase is due to the financial and operational lifeline …
Read More »Global aviation leaders call India’s service tax on aircraft leasing, regressive
Global aviation leaders at the Farnborough international air show 2014 termed India’s decision to levy service tax of 12.36% on aircraft lease charges as a regressive step which will only hurt India’s already over-taxed airlines. As per a report in The Mint, the maiden Union budget of the Narendra Modi led NDA government proposes to levy the service tax effective …
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