Jet Airways can achieve breakeven in Q3

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Jet Airways has declared its Q1 results. Its Q1 net profit stood at Rs 30.9 crore versus a loss of Rs 44 crore.

It has posted a net loss of Rs 89.1 crore excluding forex gain of Rs 120 crore in Q1.

Its sales were up at Rs 1,806.67 crore versus Rs 1,646.54 crore, YoY.

Key Takeaways from Jet airways concall hosted by SSKI Securities:

The Company has posted a net profit of Rs 308.80 million for the quarter ended June 30, 2007 as compared to net loss of Rs 449.80 million for the quarter ended June 30, 2006.

Total Income has increased from Rs 16551.90 million for the quarter ended June 30, 2006 to Rs 19830.30 million for the quarter ended June 30, 2007.

Domestic and International revenue/KM Rs 5.25

Overall revenue was up 19.8%

EBIDTA margin at 12.4%

Plans to start route from banglore to New York by Oct '07

 

Second quarter will be challenging because Q2 remain weaken quarter

 

Capacity in terms of ASPM, was up by 17.8% and the revenue passenger kilometer part was at a lower level, at 11.8%. That is principally because of the lower seat factor we had seen compared to the same quarter last year.

 

Forward booking is line with company's expectation

 

The revenues from the international business now form about one fourth of the total operating revenues of the company. That is about USD 107 million compared to USD 46 million or 13% in the same quarter last year.

 

The seat factor, we have achieved, is around 66%, marginally lower than the same quarter last year, which was 66.4%.

 

Capacity went down 2% in domestic air flight

 

Rs 500 crore was in loan in advance now under investments

 

The pre-tax loss on operations was Rs 817 million against Rs 713 million in the same period last year.

 

Expect see upcoming season higher yield for the company

 

In Q3 we can achieve breakeven

 

Continue expect lower unit cost

 

Currency impact: taking for FY08 every 1 rupee appreciation will impact USD 10 million

 

Employee remunaration is grown by 13%, YoY

 

Last year company has bought 7 new planes

 

Utilisation per plane gone down

 

52 Aircraft fly domestically

 

Unit cost on Jetlite fall by 15%

 

 

For more information listen to concall............