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Jet Airways reverses first-quarter fortunes
With domestic capacity growth "starting to slow down" and revenue from its nascent international operations more than doubling, Jet Airways was able to post a INR309 million ($7.6 million) profit in its first fiscal quarter ended June 30 compared to a INR450 million deficit in the year-ago period.
The Indian carrier's revenue climbed 19.8% year-over-year to INR19.83 billion, helping boost EBITDAR 8.3% to INR2.24 billion. Passengers dipped 4.6% to 2.7 million as RPKs rose 11.8% to 3.29 billion and capacity grew 17.8% to 4.76 billion ASKs. Load factor fell 3.8 points to 69.1%.