Financial Results Q4 FY17

30 May 2017

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Key Highlights – Q4FY17

Net profit after tax of INR 23 crores

Eight successive profitable quarter and 2nd consecutive profitable year for the Group

Further reduction in net debt by INR 468cr in the quarter and INR 1,902cr in FY17

Key enhancements to Domestic and international connectivity:

Second frequency on Delhi – Abu Dhabi route

Wide body capacity deployed on Mumbai-Chennai, Mumbai-Bengaluru, Delhi-Chennai, Delhi–Bengaluru

Introduction of daily direct flight between Mangalore-Delhi in January ‘17 and Jaipur-Chandigarh, Mumbai–Madurai,

Mumbai-Bagdogra in March’17

Announcement of direct flights between Chennai – Paris, Bengaluru–Amsterdam and 3rd frequency Mumbai-London from

in winter 2017

Codeshare agreement with Virgin Atlantic to improve India- USA connectivity via London Heathrow

Codeshare agreements with Hong Kong Airlines, Fiji Airlines & Jet Star Asia

Named India’s Best Airline at TripAdvisor's Travellers’ Choice Awards 2017

Featured in the Top 200 most influential brands in the world.

Jet Airways along with strategic partner Etihad Airways together signed Landmark Tourism Agreement with the state

government of Maharashtra, first of its kind collaboration between an Indian state and an Airline

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4,288

5,106 5,216

Q4 FY15 Q4 FY16 Q4 FY17

Capacity enhancement with higher aircraft utilisation ASKMs (Domestic) (Millions)

ASKMs (International) (Millions)

Fleet (count)

Aircraft utilisation (B737) (hours)

22% 15%

8%

7,309 7,538 8,438

Q4 FY15 Q4 FY16 Q4 FY17

116 116

112

106 106

111

March 15 March 16 March 17

Total fleet Operating fleet

4

12.0

13.2

13.0

Q4FY15 Q4FY16 Q4FY17

Note: Operating fleet excludes Subleased aircraft and all fleet size as on March

862

1,639

1,031

Q4 FY15 Q4 FY16 Q4 FY17

5,397

5,533

5,728

Q4 FY15 Q4 FY16 Q4 FY17

Jet Group: quarterly performance

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Revenue (₹ crores)

Operating EBITDAR* (₹ crores)

EBT (₹ crores)

(1,803)

426

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Q4 FY15 Q4 FY16 Q4 FY17

*Excludes Exceptional items; unrealised forex loss and contribution receivable from lessors wherever applicable

• Revenue improved by 3.5% as compared to Q4FY16

• EBITDAR of INR 1,031 crores for Q4FY17

Quarterly Performance – Key highlights Q4 FY17

13,655 mn

8.0% y-o-y

Capacity (ASKM)

₹ 6,026 cr

6.0% y-o-y

Total Revenue

₹ 468 cr **

Net Debt

₹ 4.20

4.1% y-o-y

RASK#

₹ 4.40

5.6% y-o-y

CASK* (Incl. fuel)

₹ 3.15

5.0% y-o-y

CASK (w/o fuel)*

Note: Figures for Jet Group consolidated

*Excludes exceptional items ** Represents net debt reduction

# Excludes Non operating revenue

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Year-to-date Performance – Key highlights FY17

53,476 mn

6.7% y-o-y

Capacity (ASKM)

₹ 23,407 cr

2.2% y-o-y

Total Revenue

₹ 1,902 cr **

Net Debt

₹ 4.24

4.7% y-o-y

RASK#

₹ 4.33

0.2% y-o-y

CASK* (Incl. fuel)

₹ 3.22

1.2% y-o-y

CASK (w/o fuel)*

Note: Figures for Jet Group consolidated

*Excludes exceptional items ** Represents net debt reduction

# Excludes Non operating revenue

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Domestic Aviation Industry Q4FY17

Indigo

40.3%

Jet + Jet Lite

18.3%

Air India

14.3%

SpiceJet

12.0%

GoAir

8.1%

Vistara

3.1%

Air Asia

2.8%

Others

1.0%

Quarterly Domestic Passengers Carried [Industry vs. Jet] (million)

23.0 24.6 25.1

27.2 27.3

4.8 4.7 4.8 4.7 4.9

Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17

Industry Jet Airways YoY Growth %

Capacity Share – Q4 FY2017

19% 2% 24% 6%

Quarterly Domestic Capacity [Industry vs. Jet] (million)

28.5 30.3 31.2

33.1 32.9

6.1 6.0 6.0 6.1 6.0

Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17

Industry Jet Airways YoY Growth %

16% -1% 22% 12%

Indigo

39.7%

Jet + Jet Lite

18.1%

Air India

13.6%

SpiceJet

13.0%

GoAir

8.6%

Vistara

3.2%

Air Asia

3.0% Others

0.9%

Market Share– Q4 FY2017

21% 5% 25% 5% 19% 4% 18% 2%

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23% 1% 20% 1%

89.9 94.7 107.9

127.5

22.6 21.0 23.9 24.2

FY14 FY15 FY16 FY17

Industry Jet Airways YoY Growth %

Domestic Aviation Industry FY17

Indigo

40.3%

Jet + Jet Lite

19.0%

Air India

14.7%

SpiceJet

11.6%

GoAir

7.7%

Air Asia

2.5%

Vistara

2.9%

Others

1.2%

YTD Domestic Passengers Carried [Industry vs. Jet] (million)

Market Share – FY2017

6% -2% 5% -7% 14% 14%

YTD Domestic Passengers Carried [Industry vs. Jet] (million)

61.6 70.5

85.5

104.2

14.8 15.5 18.5 19.1

FY14 FY15 FY16 FY17

Industry Jet Airways YoY Growth %

5% -3% 15% 5% 21% 19%

Indigo

39.9%

Jet + Jet Lite

18.4%

Air India

14.2%

SpiceJet

12.7%

GoAir

8.3%

Air Asia

2.6%

Vistara

2.8% Others

1.1%

Capacity Share – FY2017

18% 1% 22% 3%

YTD Domestic Capacity [Industry vs. Jet] (million)

Jet Group - Performance Highlights

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Traffic Parameters Q4FY17 Q4FY16 YOY % Change FY17 FY16

YOY % Change

Departures

55,364

56,277 -1.6%

225,938

224,488 0.6%

ASKMs (mn)

13,655

12,644 8.0%

53,476

50,114 6.7%

RPKMs (mn)

11,327

10,528 7.6%

43,484

41,299 5.3%

Passenger Load Factor 83.0% 83.3% -0.3 pts 81.3% 82.4% -1.1 pts

Block Hours

125,036

123,691 1.1%

503,439

490,831 2.6%

Revenue Passengers (mn)

7.02

6.66 5.4%

27.15

25.84 5.1%

Average fare per passenger (INR)

6,925

7,039 -1.6%

7,073

7,322 -3.4%

Period end Fleet size

112

116 -3.4%

112

116 -3.4%

Average operating fleet size

111.8

106.0 5.4%

109.2

105.5 3.6%

Aircraft Utilisation (Hours/Day)

12.4

12.8 -3.1%

12.6

12.7 -0.7%

RASK INR#

4.20

4.38 -4.1%

4.24

4.45 -4.7%

CASK INR*

4.40

4.16 -5.6%

4.33

4.34 0.2%

CASK (excluding Fuel) INR*

3.15

3.32 5.0%

3.22

3.26 1.2%

Operating parameters (Jet Group)

# Excludes Non operating revenue * Excludes exceptional items

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Consolidated Income Statement (audited)

Note 1: Exceptions include unrealised forex gain/ loss, contribution receivable from lessors , Profit/Loss on Sale & Lease back and Loss on Assets held for sale and profit/loss of associates wherever applicable

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Figures in ₹ Crores Q4FY17 Q4FY16 YOY % Change FY17 FY16

YOY % Change

Income

Operating Revenues 5,728 5,533 3.5% 22,693 22,321 1.7%

Non Operating Revenues 298 153 93.9% 714 585 22.1%

Total Revenues 6,026 5,687 6.0% 23,407 22,906 2.2%

Expenditure

Aircraft Fuel Expenses 1,700 1,072 -58.6% 5,936 5,403 -9.9%

Employee Benefits 825 703 -17.3% 3,141 2,532 -24.0%

Selling & Distribution Expenses 617 573 -7.8% 2,533 2,361 -7.3%

Aircraft Maintenance 492 316 -55.9% 1,998 2,235 10.6%

Other Operating Expenses 1,360 1,385 1.8% 5,373 5,034 -6.7%

Lease Rentals 628 585 -7.4% 2,428 2,286 -6.2%

Depreciation 188 419 55.2% 888 996 10.9%

Interest 192 213 9.9% 853 885 3.7%

Total Expenditure 6,003 5,265 -14.0% 23,149 21,732 -6.5%

Profit / (Loss) Before Tax 23 421 -94.6% 257 1,174 -78.1%

Exceptions (refer note 1) - 4 181 38 381.2%

Tax - - (0.2) -

Net Profit 23 426 -94.6% 438 1,212 -63.8%

Jet Airways - Standalone Performance Highlights

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Figures in ₹ Crores Q4FY17 Q4FY16 YOY % Change FY17 FY16

YOY % Change

Income

Operating Revenues 5,449 5,286 3.1% 21,552 21,281 1.3%

Non Operating Revenues 310 166 87.4% 761 630 20.9%

Total Revenues 5,760 5,451 5.7% 22,313 21,911 1.8%

Expenditure

Aircraft Fuel Expenses 1,581 999 -58.3% 5,474 5,016 -9.1%

Employee Benefits 779 668 -16.7% 2,942 2,388 -23.2%

Selling & Distribution Expenses 617 571 -8.2% 2,531 2,357 -7.4%

Aircraft Maintenance 479 346 -38.7% 1,943 2,173 10.6%

Other Operating Expenses 1,292 1,311 1.4% 5,106 4,780 -6.8%

Lease Rentals 591 545 -8.5% 2,275 2,125 -7.1%

Depreciation 189 419 54.8% 887 995 10.9%

Interest 191 210 9.3% 841 868 3.2%

Total Expenditure 5,720 5,067 -12.9% 21,998 20,702 -6.3%

Profit / (Loss) Before Tax 40

384 -89.6% 315 1,209 -73.9%

Exceptions (refer note 1) (3) 13 -124.4% 75 (36) 310.0%

Tax - - (0.2) -

Profit / (Loss) After Tax 37 397 -90.7% 390 1,174 -66.7%

Standalone Jet Airways Income Statement (audited)

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Note 1: Exceptions include unrealised forex gain/ loss, contribution receivable from lessors , Profit/Loss on Sale & Lease back and Loss on Assets held for sale (wherever applicable)

Thank You!

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Certain statements in this release concerning Jet Airways’ future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ

materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability

to manage growth, intense competition in the aviation business including those factors which may affect our cost advantage, wage increases, our ability to attract and retain professionals, time and cost overruns on

various parameters, our ability to manage our international operations, liability for damages, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital, and general economic

conditions affecting our industry. Jet Airways may, from time to time, make additional written and oral forward-looking statements, including our reports to shareholders. Jet Airways does not undertake to update any

forward-looking statement that may be made from time to time by or on behalf of the company.

Disclaimer

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