Jet Airways Reports PAT Of INR 530 Million For Q4 FY09

Jet Airways reports PAT of INR 530 million for Q4 FY09;based on International performance,restructuring program,reduced fuel price & exceptional items;significantly improved EBITDAR margin of 20.8%.

Highlights for quarter ended March 31,2009 vs March 31,2008

Operational:

. System-wide ASKMs of 6,969 million, down 9.3%

. System-wide RPKMs of 4,997 million, down 8.3%

. System wide seat factor of 71.7% vs 70.9%

. 2.54 million revenue passengers carried,down 20%

Financial:

. Revenue of Rs.25,662 million (US$ 505.9 million),down by 8.2%.

. EBITDAR of Rs 5,140 Million(US$ 101.3 million) in Q4 FY09 versus Rs.2,122 Million (US$ 52.9 Million) in Q4 FY08 and Rs.3,577 Million (US$ 73.4 Million)in Q3 FY09.

. EBITDAR Margin at 20.8% in Q4 FY09 versus 7.7% in Q4 FY08 and 11.8% in Q3 FY09.

. Profit before tax Rs.1,395 million. (US$ 27.5 million) versus loss of Rs. 3,742 million (US$ 93.3 million) for the same period in FY08 and Rs. 2,498 Million (US$ 51.3 million) in Q3 FY09.

. Profit after tax of Rs. 530 million (US$ 10.4 million) versus loss of Rs.2,212 million (US$ 55.1 million) and loss of Rs.2,142 Million (US$ 44.0 million) in Q3 FY09.

Highlights for the year ended March 31, 2009 vs March 31,2008

Operational:

. System-wide ASKMs of 31,652 million,up 29.5%

. System-wide RPKMs of 21,444 million,up 26.8%

. System wide seat factor of 67.7% vs 69.2%

. 11.08 million revenue passengers carried,down 3.1%

Financial:

. Revenue of Rs.118 billion (US$ 2.3 billion),up 23.4%

. EBITDAR of Rs.4,061 million (US$ 80.1 million) in FY09 versus Rs.7,508 Million (US$ 187.1 million) in FY08.

. EBITDAR Margin at 3.5% in FY09 versus 8.5% in FY08.

. Loss before tax Rs.4,696 million (US$ 92.6 million) vs loss of Rs.4,126 million (US$ 102.8 million)

. Loss after tax of Rs.4,023 million (US$ 79.3 million) vs loss of Rs.2,531 million (US$ 63.1 million)

Domestic & International operations:

Domestic operations accounted for 43.9% of operating revenues (Rs.10,815 million US $ 213.2 million) vs 58.0% (Rs.16,001 million, US $ 398.8) in the fourth quarter of the previous year.The Company recorded a pre-tax profit on domestic operations of Rs.1,122 million (US $22.1 million).The revenues from our International operations now account for 56.1 % of operating revenues (Rs.13,841 million,US $ 272.9 million) versus 42.0% (Rs.11,598 million, US $ 289.1 million) in the fourth quarter of last year.

Financial results of Jet Lite for the Q4 and year ended March 2009:

· Achieved seat factor of 69.1% in Q4 FY09 versus 69.5% for Q4 FY08.

· Achieved Revenues of Rs.3,340 million (US $ 65.9 million) v/s 3,874 million (US $ 96.6) for Q4 FY 2008.

· EBITDAR of Rs.165 million (US$ 3.3 million) in Q4 FY09 versus negative Rs. 832 Million (US$ 20.7 million) in Q4 FY08 and positive Rs. 509 million (US$ 10.5 million) in Q3 FY09.

· EBITDAR Margin at 5.3% in Q4 FY09 vs negative 21.8% in Q4 FY08 and positive 12% in Q3 FY09.

· Loss after tax of Rs. 1,316 million (US $ 25.9 million) v/s Rs. 1,633 million (US $ 40.7 million) for Q4 FY’08.