Transportation Industry

Company Watch - Jet Airways

AirGuide Business, Feb 4, 2008

Feb 4, 2008

Jet Airways, India's sole profitable major carrier, yesterday reported a INR911 million ($23.1 million) loss for the fiscal third quarter ended Dec. 31, reversed from a profit of INR400 million in the year-ago period, ending a streak of four consecutive positive quarters. Jet cited "historical high fuel prices and startup losses on international business" as factors in the result. Three-month revenue rose 27.8% year-over-year to INR25.17 billion on an 8.7% increase in passengers to 2.95 million. Fuel costs jumped INR609 million from the year-ago period. "The increases in all other costs were in line with the increase in level of operation and in most instances, even lower than that of the same period last year," the company said. Traffic climbed 43% to 4.55 billion RPKs against a 43.2% rise in ASKs to 6.59 billion, lowering load factor 0.2 point to 69.1%. It added 10 aircraft during the quarter. Jan 29, 2008

Jet Air To Raise USD$800 Million. India's Jet Airways said on Monday it aims to raise up to USD$800 million, including a rights share offering for half the amount that was approved in June last year. The airline may consider a placement of shares with institutions for the remainder, Jet said in a statement. The company plans to use the money to fund expansion plans and for an overhaul of Air Sahara, which it bought in April 2007 and has since renamed JetLite. Jan 28, 2008

JetBlue Airways will start daily Fort Lauderdale-Aguadilla Feb. 15 aboard Airbus A320s. It launched daily flights to Fort Myers from Buffalo and White Plains scheduled to operate until April 30 aboard Embraer E-190s. Feb 3, 2008

JetBlue Adds Orlando-Puerto Rico Flights, Expands in Boston. JetBlue Airways will add a second daily nonstop flight to/from Aguadilla beginning May 1. This summer JetBlue will offer Orlando travelers a total of six daily nonstop flights to Puerto Rico, including three to San Juan, two to Aguadilla, and one to Ponce. Fares to Aguadilla, on the island's west coast, start at $89 each way. JetBlue is also adding service out of Boston by adding two destinations, Chicago O'Hare and New Orleans. Daily nonstop service to both cities kicks off May 1. JetBlue now offers service between Logan International Airport and 30 destinations across the United States, Aruba, the Bahamas, Bermuda, the Dominican Republic, and Mexico. Jan 30, 2008

JetBlue Airways has created the Aviation University Gateway, a career-planning and mentoring program designed to identify and recruit talented men and women into the professional pilot ranks. Through rigorous academic training and regional airline experience, the Aviation University Gateway creates a clearly defined career path for aspiring pilots, beginning early in an aviator's college career and culminating in the possibility of a final interview at a major airline. JetBlue is partnering with prestigious aviation programs at Embry-Riddle Aeronautical University and the University of North Dakota to fill the Aviation University Gateway's pipeline with top-flight candidates who demonstrate exceptional potential as professional pilots. Jan 30, 2008

JetBlue Airways's roller-coaster 2007 ends with first full-year profit since 2004. More details. A year that begin with much-publicized operational problems and ended with a fourth-quarter loss still was a positive one for JetBlue Airways, which reported net earnings of $18 million for 2007, reversed from a $1 million loss in the prior year and its first full-year profit since 2004. Jan 30, 2008

JetBlue and Aer Lingus to Team in April. JetBlue Airways Corp. and Ireland's Aer Lingus Group PLC said Friday their trans-Atlantic partnership will begin April 3. The deal will broaden both low-cost carriers' networks by linking their Web sites and giving passengers a single booking between Ireland and more than 40 continental U.S. destinations. Travelers will connect at JetBlue (nasdaq: JBLU - news - people )'s hub at New York's John F. Kennedy International Airport. Aer Lingus already flies to Boston, New York, Chicago, Washington, Orlando, San Francisco and Los Angeles. Feb 3, 2008

Northwest, JetBlue Post 4Q Losses. Northwest and JetBlue lost less money in the fourth quarter than expected, even in the face of high fuel prices, and JetBlue shares jumped more than 20 percent on the possibility of a passenger-sharing deal with Lufthansa. It would have been a break-even quarter for Northwest Airlines if not for a loss on its stake in Pinnacle Airlines. Jan 29, 2008

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