Jet Airways is the second largest passenger carrier in the country after Indigo. On a consolidated basis, Jet Airways made its first-ever profit of Rs.1,211.65 crore for the fiscal year 2016, against a net loss of Rs.2,097.41 crore a year ago. This is first profit after year 2007, Q4Fy16 Results : Sales: Rs 5,250 cr vs Rs 5064 cr, up 3.7% yoy (Flat) PAT: Rs 397 cr vs loss of Rs 1,729 cr yoy (Good Uptick) This was slightly higher than estimates by two Bloomberg analysts who expected it to post a quarterly net profit of Rs.385.50 crore on sales of Rs.5,343 crore. For the month of April 2016 Jet reported flat growth in passengers carried. IndiGo carried ~3mn domestic passengers (~2.5mn in April 2015), Jet Airways ~1.50mn passengers (~1.51mn last year) and SpiceJet ~1mn passengers (~0.7mn in April 2015). Etihad Airways holds a 24% stake in the co. Jet Air ways attributed the performance to better fleet utilization and better integration between domestic and international operations. Due to strong operations, Jet airways has reduced its debt Rs.1,680 crore during the fiscal year ended 31 March. Cost per available seat kilometer, an impt yardstick to judge an airlines operations, or CASK, excluding fuel, dropped by 3.2% from Rs.3.37 in the year 2015 to Rs.3.26 for 2016. Provided fue prices do not shoot up sharply the company with an equity of 113 crore and annual profit of 1211 crore can wipe out all losses & return to profitability. Further expected healthy passenger growth augurs well for the company.