India's second largest airline, after Air India, Jet Airways expects a rise in air fare during peak travel season, starting from November. However, even after the hinted hike in the future air fare; it seems that it will be difficult for the airline to return to profitability soon.
Saroj Datta, Executive Director of the private carrier, said on a television interview given to CNBC TV 18 that there were no sign of improving and without an increase in revenue it would be difficult to come back to profitability. He further added that airline could see a break even but that would be for a very short period of time. He hoped that an increase in traffic especially premium traffic could be seen in future.
It has been reported that Jet Airways had received the approval of India's Foreign Investment Promotion Board to raise funds through a share sale. This information was given by some unnamed government official. Mr. Datta said that the airline was looking forward to government's approval for raising an amount up to $400 million.
