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Jet Airways, SpiceJet to post profits by Q3: Merrill

Source : REUTERS
Last Updated: Fri, Oct 12, 2012 12:22 hrs
A newly acquired Jet Airways Boeing 777-300ER aircraft sits on the tarmac at Mumbai airport

Bank of America-Merrill Lynch reiterates its 'buy' ratings on Jet Airways and SpiceJet. Indian airlines in the near-term will benefit from a stronger rupee, the temporary shutdown of Kingfisher, capacity discipline, and improvements in utilisation and yield.

Merrill still expects Jet Airways and SpiceJet to post losses in the second quarter of fiscal 2012/13 but expects the third quarter to be profitable.

Jet Airways rallies 2.7 percent, SpiceJet ends flat.




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