Jet Hits Turnaround Goal A Year Early

India’s Jet Airways has posted its first profit in eight years and turned a $342m loss in 2015 to a $185m net profit for 2016.

<p>India’s Jet Airways has posted its first profit in eight years and turned a $342m loss in 2015 to a $185m net profit for 2016.<p>The airline benefited from substantially more codeshare traffic from Etihad, which owns a quarter of Jet, and cheaper fuel. The airline said its improvement was mainly down to enhanced fleet utilisation and optimization of its network, which enabled better integration between domestic and international operations.<p>Chairman Naresh Goyal celebrated the results, but warned of headwinds in the year to come. “The competitive and structural challenges in the Indian aviation market continue to exist. In addition, the induction of capacity and the enhanced competitive scenario is creating a constant pressure on yields,” he said.</p>

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