Jetstar turns a profit
SINGAPORE – Jetstar Asia has turned profitable ahead of schedule. The company, which includes its sister airline Valuair, has seen a 20 percent increase in revenue, a four percent rise in passenger load factor to more than 75 percent and about 20 percent jump in passenger carriage for the year ended 31 March 2008.
Attributing its achievement to prudent cost and resource management, as well as healthy passenger revenue and load factors in the face of rising fuel costs, Jetstar Asia CEO Chong Phit Lian says, “With these measures, we have streamlined our operations, optimised the use of our resources and increased our loads and ticket sales.â€
The airline sells 70 percent of its tickets via its website at www.jetstar.com with the rest through travel agents and call centres.
While fuel accounted for 40 percent of the group’s expenses in the year just ended, Jetstar Asia is confident that it is on the path to sustainable growth.
Says Ms Chong, “Our focus will continue to be on increasing utilisation, growing revenue and broadening the earnings base.’
Jetstar Asia flew its inaugural flight to Hong Kong on December 13, 2004 and acquired Valuair in July 2005. Both carriers now operate a total of seven aircraft and 126 weekly flights to 14 Asian destinations in nine countries, including the recently added Kuala Lumpur, Macau and Medan.
It has also added a fourth daily Valuair service to Jakarta.
Besides free online seat selection, leather seats and a generous 20-kg luggage allowance, Jetstar Asia and Valuair operate from Changi Airport Terminal One.
Ian Jarrett
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