Jet Airways expects profits this year

Jet Airways, the country’s biggest domestic airline expects reasonable profits in its third fiscal quarter on back of new international routes and revised airfares. The carrier's shares gained as much as 3.1 per cent. The airline, which lost money in the previous two quarters, "hopes to be profitable" in the quarter ended December 31, 2006, Gaurang Shetty, the airline's Vice President in charge of marketing, said. International routes, such as London, are beginning to turn profitable, he added. Higher oil prices last year and the sale of more discounted tickets to compete with new low-fare carriers hurt profits at Mumbai-based Jet Airways, owned by Naresh Goyal. The airline increased fuel levies three times in 2006 and passengers paid surcharges to make up for higher costs as a result of congestion in airports. "You will find the third quarter very, very good," Goyal said in Bangkok to promote his airline's first flight to Thailand. "It will be far better than what we have done in the last two quarters." Mumbai-based Jet Airways's directors will meet on January 19 to consider the financial results, Goyal said.

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