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20.01.2012 1
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Domestic industry.
8.00
7.00
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Dec'10 Jan'11 Feb'11 Mar'11 Apr'11 May'11 Jun'11 Jul'11 Aug'11 Sep'11 Oct'11 Nov'11 Dec'11
Industry Capacity
9W+S2 Capacity
Industry Pax
9W + S2 Pax
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- Thiruvananthapuram to Sharjah
- Mumbai to Riyadh - Mumbai to Bangkok (3rd Frequency) Launched new domestic flights connecting - Madurai to Bangalore and Chennai - Kolkata to Dimapur - Ahmedabad to Bengaloru, Coimbatore, Delhi, Kolkata & Lucknow
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Revenue Passengers carried 4.53 Million; Up 15% over Q3 FY11 Achieved Seat Factor of 77.8% vs 79.3% in Q3 FY11
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* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
Summary Q3 FY2012
(USD Million) DOMESTIC Q3 FY'12 Q3 FY'11 INTERNATIONAL Q3 FY'12 Q3 FY'11 TOTAL Q3 FY'12 Q3 FY'11
Total Revenues Of which Op. Revs Total Expenditure Of which Fuel Mark to Market - Derivatives Exchange Fluctuation gain / (loss) Profit on Sale & Lease back of engines Profit on Sale of Development rights of BKC Plot Profit / (Loss) before Tax PBT (excl. Extraordinary Items/ SLB Profit / (Loss) after Tax EBITDAR Margin %
335.4 327.1 377.3 134.4 0.6 16.9 7.2 9.7 (7.6) (41.9) (7.6) 6.1 1.9%
351.6 343.0 330.1 102.1 2.8 1.6 25.9 21.5 3.6 78.0 22.7%
415.4 414.7 461.1 195.8 0.6 16.9 7.2 9.7 (11.4) (45.8) (11.4) 33.4 8.1%
433.1 432.7 413.1 143.2 2.8 (0.1) 22.8 20.1 22.8 110.8 25.6%
750.8 741.8 838.5 330.2 1.3 33.7 14.3 19.4 (19.1) (87.7) (19.1) 39.5 5.3%
784.7 775.7 743.2 245.3 5.6 1.6 48.7 41.6 26.4 188.8 24.3%
* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11 7
Number of Departures ASKMs Mio RPKMs Mio Passenger Load Factor % Block Hours Revenue Passengers (Million) Revenue per RPKM in INR Cost per ASKM in INR Break Even Seat Factor (%) Cost per ASKM in INR w/o Fuel Break Even Seat Factor (%) w/o Fuel Average Gross revenue per passenger in INR* Average Gross revenue per passenger in USD* Period end Fleet size Average operating fleet size during period Average Head Count Aircraft Utilisation
46,069 9,981 7,764 77.8% 102,980 4.53 4.06 3.63 89.3% 1.87 46.0% 7,387 $139.1 101 94.9 13,392 11.8
38,221 8,866 7,032 79.3% 90,224 3.94 3.92 2.90 74.0% 1.66 42.4% 7,493 $167.6 97 91.5 11,726 11.4
20.5% 12.6% 10.4% - 1.5 points 14.1% 15.1% 3.8% -25.3% - 15.3 points -12.8% - 3.6 points -1.4% -17.0% 4.1% 3.7% 14.2% 3.2%
* Average revenue per passenger includes Fuel Surcharge and Congestion Surcharge * ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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INR Million
Q3 FY'11 Better / (Worse) %
INCOME Operating Revenues Non Operating Revenues Total Revenues IN USD Mio EXPENDITURE Employees Remuneration & Benefits Aircraft Fuel Expenses Selling & Distribution Expenses Other Operating Expenses Aircraft Lease Rentals Depreciation Interest Total Expenditure IN USD Mio Mark to Market - Derivatives Exchange Fluctuation gain / (loss) Profit on Sale & Lease back of engines Profit on Sale of Development rights of BKC Property PROFIT/ (LOSS) BEFORE TAXATION IN USD Mio IN USD Mio (excl Extraordinary Items/ SLB) Provision for taxation PROFIT / (LOSS) AFTER TAXATION IN USD Mio EBITDAR IN USD Mio Margin %
39,392 478 39,869 $750.8 4,224 17,533 3,565 11,970 2,465 2,396 2,374 44,527 $838.5 66 1,790 761 1,029 (1,012) -$19.1 -$87.7 0.4 (1,012) -$19.1 2,099 $39.5 5.3%
34,677 405 35,082 $784.7 3,351 10,968 3,337 8,579 2,176 2,305 2,506 33,223 $743.2 250 70
2,179 $48.7 $41.6 996 1,182 $26.4 8,441 $188.8 24.3% -75.1%
* Other Operating expenses include realised loss due to Exchange fluctuation of INR 1,130 Mio * ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11 9
A. Domestic operations
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Go Air, 6.0%
(6.7% for Q3FY11)
SpiceJet, 16.1%
(13.6% for Q3FY11)
Indigo, 20.0%
(17.6% for Q3FY11)
Jet+JetLite, 26.5%
(25.9% for Q3FY11)
Kingfisher, 14.2%
(18.9% for Q3FY11)
Number of Departures ASKMs Mio RPKMs Mio Passenger Load Factor % Block Hours Revenue Passengers (Million) Revenue per RPKM in INR Cost per ASKM in INR Break Even Seat Factor (%) Cost per ASKM in INR w/o Fuel Break Even Seat Factor (%) w/o Fuel Average Gross revenue per passenger in INR* Average Gross revenue per passenger in USD*
36,361 3,538 2,660 75.2% 58,392 3.18 5.66 4.89 86.3% 2.87 50.7% 4,960 $93.4
29,507 3,101 2,384 76.9% 49,548 2.73 5.69 4.06 71.4% 2.59 45.6% 5,210 $116.5
23.2% 14.1% 11.5% - 1.7 points 17.8% 16.4% -0.5% -20.3% - 14.9 points -10.8% - 5.1 points -4.8% -19.9%
* Average revenue per passenger includes Fuel Surcharge and Congestion Surcharge
* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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INR Million
Q3 FY'11 Better / (Worse) %
INCOME Operating Revenues Non Operating Revenues Total Revenues IN USD Mio EXPENDITURE Employees Remuneration & Benefits Aircraft Fuel Expenses Selling & Distribution Expenses Other Operating Expenses Aircraft Lease Rentals Depreciation Interest Total Expenditure IN USD Mio Mark to Market - Derivatives Exchange Fluctuation gain / (loss) Profit on Sale & Lease back of engines Profit on Sale of Development rights of BKC Property PROFIT/ (LOSS) BEFORE TAXATION IN USD Mio IN USD Mio (excl Extraordinary Items/ SLB) EBITDAR IN USD Mio Margin %
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17,369 441 17,811 $335.4 2,626 7,136 1,673 5,611 1,334 599 1,060 20,038 $377.3 33 895 380 514 (405) -$7.6 -$41.9 324 $6.1 1.9%
15,335 384 15,718 $351.6 1,890 4,566 1,622 3,769 1,027 632 1,251 14,756 $330.1 125 72
-134.9%
-90.7%
13 * ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11 13
B. International operations
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Number of Departures ASKMs Mio RPKMs Mio Passenger Load Factor % Block Hours Revenue Passengers (Million) Revenue per RPKM in INR Cost per ASKM in INR Break Even Seat Factor (%) Cost per ASKM in INR w/o Fuel Break Even Seat Factor (%) w/o Fuel Average Gross revenue per passenger in INR* Average Gross revenue per passenger in USD*
9,708 6,443 5,104 79.2% 44,588 1.35 3.23 2.94 90.9% 1.32 40.9% 13,092 $246.5
8,714 5,765 4,647 80.6% 40,676 1.21 3.01 2.27 75.4% 1.16 38.5% 12,652 $283.0
11.4% 11.8% 9.8% - 1.4 points 9.6% 12.0% 7.5% -29.5% - 15.5 points - 2.4 points 3.5% -12.9%
* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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INR Million
Q3 FY'11 Better / (Worse) %
INCOME Operating Revenues Non Operating Revenues Total Revenues IN USD Mio EXPENDITURE Employees Remuneration & Benefits Aircraft Fuel Expenses Selling & Distribution Expenses Other Operating Expenses Aircraft Lease Rentals Depreciation Interest Total Expenditure IN USD Mio Mark to Market - Derivatives Exchange Fluctuation gain / (loss) Profit on Sale & Lease back of engines Profit on Sale of Development rights of BKC Property PROFIT/ (LOSS) BEFORE TAXATION IN USD Mio IN USD Mio (excl Extraordinary Items/ SLB) EBITDAR IN USD Mio Margin %
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22,022 37 22,059 $415.4 1,598 10,398 1,893 6,358 1,131 1,797 1,314 24,489 $461.1 33 895 380 514 (607) -$11.4 -$45.8 1,776 $33.4 8.1%
19,342 22 19,364 $433.1 1,461 6,402 1,715 4,811 1,149 1,673 1,255 18,466 $413.1 125 (2)
-159.5%
-64.2%
16 * ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11 16
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* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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Summary 9M FY12
(USD Million) DOMESTIC 9M FY'12 9M FY'11 INTERNATIONAL 9M FY'12 9M FY'11 TOTAL 9M FY'12 9M FY'11
Total Revenues Of which Op. Revs Total Expenditure Of which Fuel Excess Depr Reversal due to change in method Mark to Market - Derivatives Contribution receivable from Lessors towards Exchange Fluctuation gain / (loss) Profit on Sale & Lease back of engines Profit on Sale of Development rights of BKC Property Profit / (Loss) before Tax PBT (excl. Extraordinary Items) Profit / (Loss) after Tax EBITDAR Margin %
861.1 838.8 989.3 362.1 0.7 11.2 (9.3) 7.2 9.7 (108.9) (128.3) (102.6) 4.5 0.5%
923.6 899.5 924.5 280.1 12.1 0.5 8.5 20.2 (0.9) (2.1) 170.7 19.0%
1,191.7 1,190.1 1,285.2 543.3 0.7 11.2 (9.3) 7.2 9.7 (74.1) (93.5) (74.1) 129.9 10.9%
1,229.9 1,224.0 1,197.7 410.4 0.5 (0.6) 32.1 32.3 32.1 300.6 24.6%
2,052.8 2,028.9 2,274.5 905.4 1.4 22.3 (18.7) 14.3 19.4 (182.9) (221.7) (176.6) 134.4 6.6%
2,153.6 2,123.5 2,122.2 690.5 12.1 0.9 7.9 52.3 31.4 30.0 471.2 22.2%
* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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147,032 16,551 54,489 61,471 (6,982) 3,650 2,784 16,574 172,308 $3,244.67
* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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Revenue Passengers carried 1.2 Million; Up 8% over Q3 FY11 Achieved Seat Factor of 78.6%; vs 82.6% in Q3 FY11
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* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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Number of Departures ASKMs Mio RPKMs Mio Passenger Load Factor % Block Hours Revenue Passengers (Million) Revenue per RPKM in INR Cost per ASKM in INR Break Even Seat Factor (%) Cost per ASKM in INR w/o Fuel Break Even Seat Factor (%) w/o Fuel Average Gross revenue per passenger in INR* Average Gross revenue per passenger in USD* Average Net revenue per passenger INR* Average Net revenue per passenger USD* Period end Fleet size Average operating fleet size during period Average Head Count Aircraft Utilisation
10,532 1,465 1,151 78.6% 17,629 1.21 4.16 3.51 84.3% 1.51 36.4% 4,115 $77.5 3,961 $74.6 20 18.0 1,054 10.6
9,404 1,384 1,143 82.6% 16,664 1.12 3.96 3.09 78.0% 1.67 42.1% 4,150 $92.8 4,038 $90.3 19 18.5 1,053 11.0
12.0% 5.9% 0.6% - 4.0 points 5.8% 7.7% 5.0% -13.5% - 6.3 points 9.2% 5.7 points -0.9% -16.5% -1.9% -17.4% 5.3% -2.5% 0.1% -3.6%
* Average revenue per passenger includes Fuel Surcharge and Congestion Surcharge * ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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INR Million
Q3 FY'11 Better / (Worse) %
INCOME Operating Revenues Non Operating Revenues Total Revenues IN USD Mio EXPENDITURE Employees Remuneration & Benefits Aircraft Fuel Expenses Selling & Distribution Expenses Other Operating Expenses Aircraft Lease Rentals Depreciation Interest Total Expenditure IN USD Mio Exchange Fluctuation gain / (loss) PROFIT/ (LOSS) BEFORE TAXATION IN USD Mio IN USD Mio (excl Extraordinary Items/ SLB) Provision for taxation PROFIT / (LOSS) AFTER TAXATION IN USD Mio EBITDAR IN USD Mio Margin %
5,303 27 5,329 $100.4 434 2,919 349 1,134 769 9 64 5,678 $106.9 133 (216) -$4.1 -$6.6 (216) -$4.1 467 $8.8 8.8%
4,833 32 4,865 $108.8 418 1,969 296 1,069 731 21 104 4,609 $103.1 0.1 256 $5.7 $5.7 0.1 256 $5.7 1,080 $24.2 22.4%
-184.2%
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* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
Summary 9M FY12
(USD Million) 9M FY'12 9M FY'11 Better/(Worse) %
Total Revenues Of which Op. Revs Total Expenditure Of which Fuel Contribution receivable from Lessors towards maintenance Exchange Fluctuation gain / (loss) Profit / (Loss) before Tax PBT (excl. Extraordinary Items) Profit / (Loss) after Tax EBITDAR Margin %
255.9 254.2 301.9 157.8 16.2 5.7 (24.1) (46.0) (24.0) (2.0) -0.8%
300.8 299.5 307.4 124.6 (22.6) (7.1) (6.6) (7.1) 56.6 18.9%
-239.3%
-237.8% -103.6%
* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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Balance Sheet
INR Million As on 31-Dec-11 I SOURCES OF FUNDS Shareholders' Funds Loan Funds TOTAL SOURCES OF FUNDS In USD Million II. APPLICATION OF FUNDS Net Fixed Assets: Current Assets, Loans & Advances Less: Current Liabilities & Provisions Net Current Assets Profit & Loss Account TOTAL APPLICATION OF FUNDS In USD Million 510 7,793 6,442 1,352 22,038 23,900 $450.0 553 9,542 5,153 4,389 20,761 25,703 576.4 8,408 15,492 23,900 $450.0 8,408 17,295 25,703 576.4 INR Million As on 31-Mar-11
* ROE used for conversion: 1 USD = INR 53.105 for Q3 FY 2012 and 1 USD = INR 44.705 for Q3 FY11
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Outlook
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Outlook
Increase in fares effective November for all carriers Capacity rationalisation expected in the Domestic market
Depreciation of the Rupee and the crude oil prices have been
concerting; expected to abate Focus on Ancillary revenues Innovative Airline wrap, other marketing initiatives being worked on Sale and Lease back of aircraft will be concluded in Q4; this will help reduce debt and interest costs going forward
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Thank you !
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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 forwardlooking statement that may be made from time to time by or on behalf of the company.
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