Forex gain puts Jet in profit route.(Financial report)

Aug. 1--MUMBAI, India -- A one-time forex gain of Rs 128 crore on its aircraft financing loan, along with lower costs, have helped Jet Airways post a profit of Rs 30 crore for the first quarter ended June 30, 2007, compared with a loss of Rs 44 crore in the same period last year.

Revenues were up nearly 20 percent to Rs 1,983 crore. Domestic revenues accounted for 76 percent of the airline's operating revenues compared with 87 percent earlier. The management has indicated that prospects for the next two quarters will remain challenging because of a huge fleet expansion and new flights on long haul international routes.

The Jet shares fell 3.15 percent to Rs 700. To part finance the aircraft acquisition, Jet will make a rights issue of $400 million in...
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