Financial Results Q3FY February

Transcription

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2 Financial Results Q3FY18 14 February

3 Key Highlights Q3FY18 Net profit after tax of INR 186cr Eleven successive profitable quarters for the Group Operating revenue increased by 10.2% and PLF% by 4.4pts vs Q3FY17 Continued reduction in Non Fuel CASK: Reduction of 2.6% (INR 3.02 in Q3FY18 vs INR 3.10 in Q3FY17) Reduction of 1.8% (INR 3.02 in Q3FY18 vs INR 3.07 in Q2FY18) Key enhancements in connectivity from winter 2017 including: New direct flights introduced from Bengaluru to Amsterdam & Chennai to Paris New flights to Riyadh from Delhi with additional frequencies to Singapore, Dammam and Doha via Delhi Additional frequencies to London, Riyadh and Kuwait via Mumbai Regional Connectivity Scheme (RCS) is a scheme launched by the Civil Aviation Ministry to provide an eco-system to promote connectivity to unserved and underserved airports in India. Under the current round of bidding, the following routes were awarded to Jet Airways: Delhi-Ozar (Nashik), Lucknow-Allahabad-Patna, Nagpur-Allahabad-Indore, Lucknow-Bareilly-Delhi

4 Capacity enhancement with higher aircraft utilisation ASKMs (Domestic) (Millions) ASKMs (International) (Millions) 16% 20% 5,027 5,175 5,853 7,591 8,607 9,130 Q3 FY16 Q3 FY17 Q3 FY18 Q3 FY16 Q3 FY17 Q3 FY18 Fleet (count) Aircraft utilisation (B737) (hours) 6% Dec 15 Dec 16 Dec 17 Q3FY16 Q3FY17 Q3FY18 Total fleet Operating fleet Note: Operating fleet excludes aircraft subleased by Jet Airways

5 Jet Group: quarterly performance Revenue ( crores) 6,412 EBT ( crores) ,702 5, Q3 FY16 Q3 FY17 Q3 FY18 Q3 FY16 Q3 FY17* Q3 FY18 Reconciliation of profit between previously reported (referred to as 'Indian GAAP') and Ind AS *Q3 FY17 EBT includes INR 327 cr. on account of sale and leaseback of aircraft. Figures in Crores (Consolidated Results) Q3FY17 Net profit as per Indian GAAP 156 Exchange gain / loss and Depreciation on exchange decapitalised (80) Effect of actuarial loss on employee defined benefit plans recognised in Other Comprehensive Income 12 Others 13 Reversal of provision for Loss as per IGAAP on asset held for sale and additional gain on SLB of 2 B Net profit as per Ind AS 299

6 Quarterly Performance Key highlights Q3FY18 14,983 mn 8.7% y-o-y Capacity (ASKM) 6,623 cr 3.6% y-o-y Total Revenue 84.0% 4.4 pts y-o-y PLF% % y-o-y RASK # % y-o-y CASK* (Incl. fuel) % y-o-y CASK (w/o fuel) * Brent rate per Barrel at $ in Q3FY18 vs $ in Q3FY17 increased by 20.8% # Excludes Non operating revenue Note: Figures for Jet Group consolidated

7 YTD Performance Key highlights 9MFY18 43,200 mn 8.5% y-o-y Capacity (ASKM) 18,936 cr 5.0% y-o-y Total Revenue 82.4% 1.7 pts y-o-y PLF% % y-o-y RASK # % y-o-y CASK* (Incl. fuel) % y-o-y CASK (w/o fuel) * Brent rate per Barrel at $ in 9MFY18 vs $ in 9MFY17 increased of 14.7% # Excludes Non operating revenue Note: Figures for Jet Group consolidated

8 Domestic Aviation Industry Q3FY18 Quarterly Domestic Passengers Carried [Industry vs. Jet] (million) Quarterly Domestic Capacity [Industry vs. Jet] (million) 23% 1% 19% 2% 18% 9% 15% 9% 18% 17% 20% 1% 16% -1% 14% 6% 14% 11% 14% 10% Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3FY18 Industry Jet Airways YoY Growth % Market Share Q3 FY2018 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3FY18 Industry Jet Airways YoY Growth % Capacity Share Q3 FY2018 GoAir 9.1% Air Asia Vistara 4.3% 3.6% Others 0.3% Indigo 39.5% GoAir 8.6% Air Asia Vistara 4.4% 3.6% Others 0.4% Indigo 39.4% SpiceJet 12.8% SpiceJet 12.4% Air India 13.2% Jet + Jet Lite 17.2% Air India 13.4% Jet + Jet Lite 17.8%

9 Jet Group - Performance Highlights

10 Operating parameters (Jet Group) Parameters Q3FY18 Q3FY17 YOY % Change 9MFY18 9MFY17 YOY % Change Departures 59,563 57, % 175, , % ASKMs (mn) 14,983 13, % 43,200 39, % RPKMs (mn) 12,586 10, % 35,611 32, % Passenger Load Factor 84.0% 79.6% 4.4 pts 82.4% 80.8% 1.6 pts Block Hours 136, , % 393, , % Revenue Passengers (mn) % % Average fare per passenger (INR) 7,195 7,306 (1.5%) 7,161 7, % Period end Fleet size % % Average operating fleet size % % Aircraft Utilisation (Hours/Day) % % RASK INR # % (0.5%) CASK INR * (2.6%) (2.0%) CASK (excluding Fuel) INR % % # Excludes Non operating revenue * Excludes exceptional items

11 Consolidated Income Statement (unaudited) Figures in Crores Q3FY18 Q3FY17 YOY % Change 9MFY18 9MFY17 YOY % Change Income Operating Revenues 6,412 5, % 18,315 16, % Non Operating Revenues (63.5%) 621 1,076 (42.2%) Total Revenues 6,623 6, % 18,936 18, % Expenditure Aircraft Fuel Expenses 1,964 1,546 (27.0%) 5,233 4,235 (23.5%) Employee Benefits (5.3%) 2,356 2,260 (4.2%) Selling & Distribution Expenses (9.5%) 2,040 1,916 (6.5%) Aircraft Maintenance (10.6%) 1,751 1,504 (16.5%) Other Operating Expenses 1,445 1, % 4,340 4,266 (1.8%) Lease Rentals (0.4%) 1,834 1,803 (1.7%) Depreciation % % Interest % % Total Expenditure 6,438 6,097 (5.6%) 18,621 17,177 (8.4%) Profit / (Loss) Before Tax (37.9%) (63.5%) Tax Net Profit (37.9%) (63.5%) Note: Net profits for Q3FY17 and 9MFY17 profit include INR 327cr and 518cr respectively, on account of profit on sale and leaseback of aircraft.

12 Reconciliation of profit between previously reported (referred to as 'Indian GAAP') and Ind AS for Q3FY17 and 9MFY17 Figures in Crores (Consolidated Results) Q3FY17 9MFY17 Net profit as per Indian GAAP Exchange gain / loss and Depreciation on exchange decapitalised (80) 48 Effect of actuarial loss on employee defined benefit plans recognised in Other Comprehensive Income Others 13 5 Reversal of provision for Loss as per IGAAP on asset held for sale and additional gain on SLB of 2 B Net profit as per Ind AS Note: Net profits for Q3FY17 and 9MFY17 profit include INR 327cr and 518cr respectively, on account of profit on sale and leaseback of aircraft.

13 Jet Airways - Standalone Performance Highlights

14 Standalone Jet Airways Income Statement (unaudited) Figures in Crores Q3FY18 Q3FY17 YOY % Change 9MFY18 9MFY17 YOY % Change Income Operating Revenues 6,086 5, % 17,362 16, % Non Operating Revenues (38.7%) (34.1%) Total Revenues 6,349 5, % 17,988 17, % Expenditure Aircraft Fuel Expenses 1,840 1,429 (28.8%) 4,890 3,893 (25.6%) Employee Benefits (5.3%) 2,222 2,112 (5.2%) Selling & Distribution Expenses (9.6%) 2,039 1,914 (6.5%) Aircraft Maintenance (1.5%) 1,624 1,461 (11.1%) Other Operating Expenses 1,421 1,388 (2.4%) 4,154 3,922 (5.9%) Lease Rentals (0.7%) 1,730 1,687 (2.5%) Depreciation % % Interest % % Total Expenditure 6,184 5,635 (9.7%) 17,720 16,175 (9.6%) Profit / (Loss) Before Tax (45.9%) (69.5%) Tax (0.20) Net Profit (45.9%) (69.5%) Note: Net profits for Q3FY17 and 9MFY17 profit include INR 327cr and 518cr respectively, on account of profit on sale and leaseback of aircraft.

15 Thank You

16 Disclaimer Certain statements in this release concerning Jet Airways future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in the aviation business including those factors which may affect our cost advantage, wage increases, our ability to attract and retain professionals, time and cost overruns on various parameters, our ability to manage our international operations, liability for damages, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital, and general economic conditions affecting our industry. Jet Airways may, from time to time, make additional written and oral forward-looking statements, including our reports to shareholders. Jet Airways does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.