India`s Jet Airways swings to quarterly profit

India's Jet Airways swings to quarterly profit

Last Updated: Fri, Feb 01, 2013 10:05 hrs
A newly acquired Jet Airways Boeing 777-300ER aircraft sits on the tarmac at Mumbai airport

India's second biggest carrier Jet Airways, which is in final talks to sell a stake to Abu Dhabi's Etihad Airways, swung to a quarterly profit on Friday due to rising fares in an under-serviced market and on lower costs.

Jet earned 850 million rupees ($15.98 million) for October-December, exceeding estimates for the third straight quarter, compared with a loss of 1.01 billion rupees a year back.

Analysts were expecting a profit of 278.5 million rupees, according to Thomson Reuters I/B/E/S.

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