Jet Airways (India) executes agreement with Thai Airways

21 May 2011 Evaluate

Jet Airways (India) has executed an agreement with Thai Airways International Public Company for the Sub (dry) Lease of two of its B 777-300ER aircraft. The lease is set to commence from October 2011 and November 2011 respectively and will continue for a period of 24 months.

Presently, both these aircraft are given on lease to Turkish Airlines Inc., and are expected to be returned later this year on the expiry of the respective lease terms.

Besides, Jet Airways (India) has reported results for the year ended March 31, 2011.

The company has reported a net profit of Rs 9.69 crore for FY11 as compared to a net loss of Rs 467.64 crore for the previous year. Its total income has increased by 21.92% at Rs 12951.04 crore for the year under review from Rs 10622.92 crore in the last year.

On consolidated basis, the company has reported a loss of Rs 85.84 crore for the year under review as compared to net loss of Rs 420.18 crore for the last year. Total income for the quarter has increased by 20.34% at Rs 14726.98 crore as compared to Rs 12238.06 crore for the previous quarter.

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