New Delhi: Jet Airways has announced its financial results for year ending March 2006. It post 15.32 per cent rise in net profit for 2005-2006, to Rs 452.04 crore from the previous corresponding Rs 391.99 crore.
Net income from operations was up 31.25 per cent at Rs 5693.73 crore (Rs 4338.01 crore for the year ago period).
The Jet Airways has recommended dividend of Rs 6 per equity share. At a press briefing, Naresh Goyal, Chairman, said that a feasibility study would be done to start a cargo airline. In Q4, Jet had 70.76 per cent increase in net profit to Rs 227.12 crore (Rs 133 crore) on 35.06 per cent growth in net income to Rs 1625.30 crore (Rs 1203.36 crore).
Earlier last month Jet airways had initiated the proposal of acquiring and merging with Sahara Airways. In a press release company has said that over the coming months, it will be working towards integrating Sahara Airlines operations into its own.
“This is one of the most exciting opportunities in the history of Jet Airways and we are committed to capturing the full synergies of this acquisition,” said the company officials.
In a press conference on Saturday Naresh Goel, chairman Jet Airways said that eventually he would like a merger between the two companies. Jet has signed a management consultancy agreement with Sahara and Lufthansa airline’s engineers have been called to inspect planes, spares and maintenance processes.
Jet Airways was conferred the Star Of The Industry Award for the Best Domestic Airline of the Year 2005, by the ITM Institute of Hotel Management on February 24, 2006. Since inception in May 1993 until end-March 2006, Jet Airways has flown approx. 60.7 million passengers.
Jet Airways to levy fuel surcharge on all domestic tickets effective May 01, 2006
Jet Airways has announced that it will levy a fuel surcharge of Rs 300 on all types of fare levels for both premiere and economy Class tickets on all domestic routes in India, with effect from May 1, 2006.
“This surcharge has been necessitated by the continued escalation in fuel prices”, said the company officials.
This means air travel will become costlier as many other airlines are likely to follow increasing airfares on all domestic routes.
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