News
UPDATED: Jet Airways reports small profit in midst of restructuring
February 16th 2015
Mumbai-based Jet Airways will receive the ten B787-9s it ordered in 2006 in financial year 2017-2018. Boeing and Jet Airways have corrected a news article in India’s Business Standard that said the new aircraft were slated for delivery starting next year but had been deferred by Jet to 2017-2018.
The below statement from Abhijit Dasgupta, vice-president planning and alliances at Jet Airways, that appeared in the Indian newspaper has been clarified to have been misquoted. “We are looking at more or less a flat fleet. We do have some lease expiries coming up, which we are deciding to either extend or replace. Broadly, we are not looking at any substantial growth in our fleet. We have nothing in the order book for the next two to three years.”
Jet Airways is proceeding through a turnaround, which includes debt restructuring, cost reduction through contract re-negotiations and process improvements and network rationalization. Last week, Jet Airways chief, Cramer Ball, said the rehabilitation plan had begun to pay off after the carrier posted a $0.5 million profit for the third quarter, ended December 31. It was its first profitable quarter in three years.
