After an impressive Q3, Jet Airways plans higher fleet usage

After the net profit of Jet Airways went up multi-fold in December quarter, the Indian airline said it utilised its fleet and passenger traffic growth efficiently.

As the airliner beat the average, Jet Airways expects to almost double earnings per share from present Rs 68 to Rs 120 in FY17.

Reportedly, Jet Airways’ aircraft utilisation improved to 12.7 hours per day in the December quarter.

Also, its employee and selling and distribution costs came down.

The brilliant Q3 result was also due to low fuel costs.

"Our strong operational performance resulting in record profit demonstrates the progress we continue to make in our turnaround plan," CEO Cramer Ball said in a statement.

Jet Airways’ rivals IndiGo and SpiceJet are also reaping the benefits of the fuel cost.

It is also expected to meet operating margin of 13-14% for FY17.