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.
Key Highlights Q1FY19 Capacity in terms of ASKM up by 9.4% Net loss after tax of INR 1,326cr Q1FY19 results adversely impacted on account of: Year-on-Year impact of increase in fuel prices of INR 675cr; Mark-to-market adjustment due to weaker Rupee of INR 366cr in Q1 FY19 Continued reduction in Non-Fuel CASK: Reduction of 1.5% (INR 3.17 in Q1FY19 vs INR 3.22 in Q1FY18) Operations commence under the Regional Connectivity Scheme effective 14 June 18 Connecting Allahabad with Lucknow, Patna, Nagpur and Indore, and Nasik to Delhi Introduced additional flight between Delhi and Dhaka, effective 25 June 18 Introduced new flights effective August 18, on Bengaluru to Guwahati and Indore to Hyderabad & Chandigarh First non-stop service between Mumbai and Manchester from winter 2018; further strengthening connectivity to UK Inducted first Boeing 737 MAX in its fleet; especially designed to deliver exceptional performance and reliability with fuel efficiency
Key operating parameters ASKMs (Domestic) (Millions) ASKMs (International) 18% (Millions) 20% 5,558 6,056 7,668 8,410 9,223 5,139 Q1 FY17 Q1 FY18 Q1 FY19 Q1 FY17 Q1 FY18 Q1 FY19 Fleet (count) Aircraft utilisation (B737) (hours) 1% 116 113 112 120 119 13.57 13.72 106 13.19 June 16 June 17 June 18 Q1 FY17 Q1 FY18 Q1 FY19 Total fleet Operating fleet Note: Operating fleet excludes aircraft subleased by Jet Airways
Quarterly Performance Key highlights Q1FY19 15,279 mn 9.4% y-o-y Capacity (ASKM) 6,257 cr 5.2% y-o-y Revenue 80.4% 1.3 pts y-o-y PLF% 4.10 3.9% y-o-y RASK # 4.77 8.7% y-o-y CASK* (Incl. fuel) 3.17 1.5% y-o-y CASK (w/o fuel) * Brent rate per Barrel at $ 71.68 in Q1FY19 vs. $ 52.63 in Q1FY18 increased by 36.2% # Excludes Non operating revenue Note: Figures for Jet Group consolidated
Domestic Aviation Industry Q1FY19 Quarterly Domestic Passengers Carried [Industry vs. Jet] (million) Quarterly Domestic Capacity [Industry vs. Jet] (million) 18% 9% 15% 9% 18% 17% 24% 14% 20% 6% 14% 6% 14% 11% 14% 10% 18% 9% 18% 6% 28.9 28.8 32.2 33.7 34.7 34.6 35.5 37.8 39.0 40.6 5.1 5.2 5.5 5.6 5.4 6.4 6.7 6.7 6.6 6.8 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Industry Jet Airways YoY Growth % Market Share Q1 FY2019 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Capacity Share Q1 FY2019 Industry Jet Airways YoY Growth % Air Asia Vistara 5.3% 4.0% Others 0.5% Vistara 4.0% Air Asia 5.5% Others 0.6% GoAir 8.9% Indigo 40.7% GoAir 8.6% Indigo 40.1% SpiceJet 12.3% SpiceJet 12.3% Air India 12.9% Jet + Jet Lite 15.5% Air India 12.3% Jet + Jet Lite 16.6%
Jet Group - Performance Highlights
Operating parameters (Jet Group) Parameters Q1FY19 Q1FY18 YOY % Change Departures 59,069 56,988 3.7% ASKMs (mn) 15,279 13,968 9.4% RPKMs (mn) 12,285 11,417 7.6% Passenger Load Factor 80.4% 81.7% (1.3 pts) Block Hours 139,328 126,830 9.9% Revenue Passengers (mn) 7.4 7.1 3.9% Average fare per passenger (INR) 7,312 7,233 1.1% Period end Fleet size 120 113 6.2% Average operating fleet size 118.0 111.4 5.9% Aircraft Utilisation (Hours/Day) 13.0 12.5 3.7% RASK INR # 4.10 4.26 (3.9%) CASK INR* 4.77 4.39 (8.7%) CASK (excluding Fuel) INR* 3.17 3.22 1.5% # Excludes Non operating revenue * Excludes exceptional items Note: Q1FY19 CASK and CASK excluding fuel exclude INR 344cr of un-realised forex loss
Consolidated Income Statement (unaudited) Figures in Crores Q1FY19 Q1FY18 YOY % Change Income Operating Revenues 6,257 5,951 5.2% Non Operating Revenues 55 235 (76.7%) Total Revenues 6,312 6,185 2.0% Expenditure Aircraft Fuel Expenses 2,451 1,636 (49.8%) Employee Benefits 862 769 (12.1%) Selling & Distribution Expenses 561 684 17.9% Aircraft Maintenance 755 626 (20.7%) Other Operating Expenses 1,974 1,465 (34.7%) Lease Rentals 669 606 (10.5%) Depreciation 112 144 22.3% Interest 252 197 (27.7%) Total Expenditure 7,638 6,127 (24.7%) Net Profit (1,326) 58 - Note: Q1FY19 Cost includes the impact of Forex loss amounting to INR 366cr
Jet Airways - Standalone Performance Highlights
Standalone Jet Airways Income Statement (unaudited) Figures in Crores Q1FY19 Q1FY18 YOY % Change Income Operating Revenues 6,010 5,649 6.4% Non Operating Revenues 56 305 (81.5%) Total Revenues 6,067 5,954 1.9% Expenditure Aircraft Fuel Expenses 2,332 1,524 (53.0%) Employee Benefits 816 725 (12.6%) Selling & Distribution Expenses 561 683 17.9% Aircraft Maintenance 675 602 (12.0%) Other Operating Expenses 2,008 1,455 (37.9%) Lease Rentals 637 571 (11.6%) Depreciation 112 144 22.3% Interest 249 195 (27.4%) Total Expenditure 7,390 5,900 (25.2%) Net Profit (1,323) 53 - Note: Q1FY19 Cost includes the impact of Forex loss amounting to INR 365cr