Jet Airways earn profit for 11th consecutive quarter
A Monitor Report
01 Mar, 2018
Mumbai : Jet Airways Group reported its 11th successive profitable quarter with a net profit of INR 186 crores for the third quarter of FY18 against a net profit of INR 299 cr ore for Q3 FY17.
Laying the groundwork for the future, Jet Airways also expanded the scope of its alliance partnerships. In perhaps the most strategic announcement of 2017, the airline signed the landmark “Enhanced Cooperation Agreement” with Air France-KLM for the development of their operations between Europe and India. The agreement will see Jet Airways, Air France, and KLM cooperate to develop their commercial and product offering together, benefiting customers via extensive travel options and seamless service throughout the partners' networks spanning 44 cities in India and 106 destinations across Europe. This agreement complements Air France-KLM and Delta Air Lines' transatlantic partnership between Europe and North America, offering access to over 200 destinations in North America, and establishing a global cooperation connecting the three continents. In fact, growing synergies with alliance partners helped Jet Airways expand its codeshare traffic and carry 0.58 million passengers during the quarter, up 3.6 per cent over Q3 FY17.
In an equally significant development, Jet Airways Cargo also signed a Memorandum of Understanding (MoU) with Air France KLM Cargo to strengthen cooperation in the cargo sector between India and Europe.
The quarter also saw Jet Airways launching several new as well as additional services between key sectors, including non-stop services between Bengaluru-Amsterdam, Chennai-Paris as well as its third daily frequency between Mumbai-London. The airline also launched its first non-stop service between New Delhi-Riyadh and additional frequencies between Mumbai-Riyadh, Mumbai-Kuwait, Delhi-Doha and Delhi-Dammam sectors), strengthening its dominant presence on the Indo-Gulf sector.