JET AIRWAYS

INTRODUCTION:
JET AIRWAYS is the largest Indian airline based

out of Mumbai, Maharashtra.

It operates 400 flights daily to 76 destinations
worldwide.
Its main hub is Mumbai, with secondary hubs
at Delhi, Kolkata, Chennai, Cochin,
Ahmadabad and Bangalore.
Jet Airways' original livery wasNavy Blue,
Light GreyandChrome Yellow.

 It has an international hub atBrussels Airport

,Belgium
Employees:6,500
The airline is also known to be the leader in
the domestic flights section.

Origin:

Company founder Naresh Goyal began his travel

career in 1967 at the age of 18 as a general sales agent

(GSA) for Lebanese International
Airlines.
In May 1974, he formed his own company,
Jetair (Private) Limited, to market other foreign
airlines in India.
Jetair eventually grew to a network of 60 branch
offices.

 Goyal set up Jet Airways (India) Private

Limited in 1991.
Initial investment was $20 million.
Company founder Naresh Goyal (then based
in London) owned 60 percent of Jet Airways,
with Gulf Air and Kuwait Airways dividing the
remaining 40 percent.

 Jet Airways began domestic flight operations

with four new-generation Boeing 737s on May

5, 1993.
The first flights were from Mumbai (Bombay)
to Delhi and Madras and ten other
destinations.
Jet Airways aimed to carry seven million
passengers by the end of 1993, and to take in
first year revenue in excess of $75 million (INR
2.4 billion).

Early years:
Jet Airways was incorporated as anair taxi

operator on 1 April 1992.

It started commercial operations on 5 May
1993
It began international operations from
Chennaito Colomboin March 2004
The company is listed on the
Bombay Stock Exchange, but 80% of its stock
is controlled by Naresh Goyal

In January 2006 Jet Airways announced that it

would buyAir SaharaforUS$500 million in an

all-cash deal, making it the biggest takeover
in Indian aviation history. It would have
resulted in the country's largest airlinebut the
deal fell through in June 2006.
On 12 April 2007 Jet Airways agreed to buy
out Air Sahara for INR14.5 billion (US$340
million).

Air Sahara was renamed JetLite, and was

marketed between a low-cost carrier and a full

service airline.
In August 2008 Jet Airways announced its
plans to completely integrate JetLite into Jet
Airways.
Jet Airways claimed to be the only profitable
privately owned airline in India

Head office:
Jet Airway's head office isSM Cen
tr

e, th
e for
mer
head
office

located in the Siroya Centre in

Andheri,Mumbai.
It has its branches spread all over both
nationally and globally.

 Jet Airways introduced its new identity in

conjunction with a global brand re-launch

which included new aircraft and seating with
three different classes. Which are:
First class
Premiere class
Economy class

First ClassonboardtheBoeing777-300ER

Premireonboardth

JetScreenIFEinEconomyclasson-boardaBoeing737-800

eBoeing777-300ER

COMPETITORS:
KINGFISHER
SPICE JET
INDIAN AIRLINES
INDIGO
BLUE DART
JACKSON

Awards and achievements

Best First-Class Service in the Worldaward at

Business Travellers 20th annual Best in Business

Travel awards

Best Business Class & Best Economy Classat the

Business Traveller Awards

Best Program of the Yearby Freddie Awards 2007 &

2006

Best Elite Levelfor the second year in a row, at the

21st Annual presentation ceremony of the Freddie
Awards 2008

 Best Overall in Entertainmentat the Avion

Awards 2010
India's Popular Domestic Airlineat the SATTE
2006 Awards
Indias Airlineat the World Travel Awards,
2006
Best Technical Despatch Reliabilityby Beaver
2002
Best Cargo Airline of North Asiaby Cargo
Airline of the Year Awards

Balance sheet - Jet Airways (India) Ltd.

Particulars Mar'11 Mar'10 Mar'09 Mar'08 Mar'07
12
12
12
12
12
Months Months Months Months Months
Share Capital 86.33 86.33 86.33 86.33 86.33
1,208.3 1,765.4 2,018.4
Reserves & Surplus 750.37 740.68
2
2
8
2,604.3 2,641.9 3,156.9 4,551.6 2,237.2
Net Worth
4
8
5
5
5
4,510.4 3,973.6 4,775.9 1,612.7
Secured Loans
742.46
5
8
2
5
8,969.9 9,923.3 11,547. 10,402. 5,313.8
Unsecured Loans
4
0
61
29
4
16,084. 16,538. 19,480. 16,566. 8,293.5
TOTAL LIABILITIES
73
96
48
69
5
Liabilities

Assets
5,713.8
3
2,416.3
4
3,165.0
5
3,994.5
2

17,940. 17,932. 18,763. 16,591.

46
75
74
09
4,324.6 3,502.8 2,501.8 2,506.9
(-) Acc. Depreciation
5
3
0
2
11,848. 12,614. 14,399. 11,384.
Net Block
17
95
64
27
1,223.2
Capital Work in Progress. 348.91 299.60 583.17
8
1,725.0 1,745.0 1,745.0 1,475.3
Investments.
68.93
9
0
0
5
Inventories 711.18 584.79 595.67 545.03 438.99
1,313.7
Sundry Debtors 965.77 810.77 732.25
603.90
3
1,394.5
1,096.6
Cash And Bank 587.71 772.83
855.14
0
4
3,688.6 1,613.8 1,628.2 1,431.7 1,262.7
Loans And Advances
4
1
8
7
9
5,953.3 3,782.2 4,350.7 4,145.6 3,402.3
Gross Block

Profit & Loss - Jet Airways (India) Ltd.

Mar'12

Mar'11

Mar'10

Mar'09

Mar'08

12
Months

12
Months

12
Months

12
Months

12
Months
INCOME:

Sales Turnover
Excise Duty
NET SALES
Other Income
TOTAL INCOME

15,224.6 12,782.5 10,438.5 11,571.1

8,811.10
8
2
7
5
0.00

0.00

0.00

0.00

0.00

15,224.6 12,782.5 10,438.5 11,571.1

8,811.10
8
2
7
5
0.00

0.00

0.00

0.00

0.00

15,581.6 12,955.9 10,590.6 11,683.4

8,926.33
9
2
1
2

EXPENDITURE:
Manufactur
ing
9,387.39
6,742.55
Expenses
Material
0.00
0.00
Consumed
Personal
1,599.49
1,342.19
Expenses
Selling
1,361.67
1,261.72
Expenses
Administrat
ive
1,024.28
933.15
Expenses
Expenses
0.00
0.00
Capitalised
Provisions
0.00
0.00
Made
TOTAL
EXPENDITU 13,372.83 10,279.61

5,265.69

7,446.48

5,129.92

0.00

0.00

0.00

1,226.55

1,410.50

1,205.18

984.91

1,098.17

982.86

853.94

1,017.54

739.24

0.00

0.00

0.00

0.00

0.00

0.00

8,331.09 10,972.69

8,057.20

Operating Profit

1,851.85

2,502.91

2,107.48

598.46 753.90

EBITDA
Depreciation
Other Writeoffs
EBIT

2,208.86
939.88

2,676.31
910.62

2,259.52
961.96

710.73 869.13
899.81 777.80

0.00

0.00

0.00

0.00

1,268.98

1,765.69

1,297.56

-189.08

Interest

2,011.24

1,872.72

1,824.74

EBT
Taxes
Profit and Loss
for the Year
Non Recurring
Items

-742.26
437.25

-107.03
230.49

-527.18
78.97

91.33
1,056.0
1,450.86
3
-1,639.94 -964.70
22.21 -160.73

-1,179.51

-337.52

-606.15

-1,662.15 -803.97

-104.30

77.17

97.78

331.48 522.01

Other Non Cash

Adjustments

47.71

270.04

40.73

928.33

28.90

Other
Adjustments

0.00

0.00

0.00

0.00

0.00

REPORTED PAT

-1,236.10

9.69

-467.64

-402.34

-253.0

0.00

KEY ITEMS
Preference
Dividend

0.00

0.00

0.00

0.00

0.00

Equity
Dividend

0.00

0.00

0.00

0.00

0.00

Equity
Dividend
(%)

0.00

0.00

0.00

0.00

0.00

Shares in
Issue
(Lakhs)

863.34

863.34

863.34

863.34

863.34

EPS Annualised
(Rs)

-143.18

1.12

-54.17

-46.60

-29.31

NET LOSS RATIO

Net loss ratio= Net loss/Net sales* 100
2008

2009

2010

2011

2012

-9.12

-14.36

-5.81

-2.64

-7.75

Though it is a well known company, due to

many reasons like the air fuel price escalation,

they are not able to make the sufficient profits
and hence suffered a loss for the past five
years. But it is definitely a promising company.

Mar '12 Mar '11 Mar '10 Mar '09 Mar '08

Investment Valuation Ratios

FaceValue
DividendPerShare
OperatingProfitPerShare(Rs)

10.00

10.00

10.00

10.00

10.00

--

--

--

--

--

214.50 289.91

244.11

69.32

87.32

NetOperatingProfitPerShare(Rs)
1,480.59 1,209.09 1,340.28 1,020.58
Key Financial Ratios1,763.46
of

Jet Airways
FreeReservesPerShare(Rs)

-79.02

80.48

79.35 133.52 198.05

10.89

10.89

10.89

10.89

10.89

12.16

19.58

20.18

5.17

8.55

ProfitBeforeInterestAndTaxMargin(%)

5.85

12.29

10.81

-2.57

-0.26

GrossProfitMargin(%)

5.99

12.45

10.97

-2.60

-0.27

CashProfitMargin(%)

-1.53

4.42

3.35

-6.52

-0.29

AdjustedCashMargin(%)

-1.53

4.42

3.35

-6.52

-0.29

NetProfitMargin(%)

-7.93

0.07

-4.41

-3.44

-2.83

AdjustedNetProfitMargin(%)

-7.93

0.07

-4.41

-3.44

-2.83

BonusinEquityCapital
Profitability Ratios
OperatingProfitMargin(%)