India’s Jet Airways back in black ahead of schedule | The National:
"Jet Airways yesterday posted a record annual profit, achieving a return to profitability a year ahead of its target, as low oil prices helped to lift the airline’s financial performance.
The airline declared a net profit of 12.1 billion rupees (Dh657.4 million) in the year to the end of March, compared to a loss of almost 21bn rupees in the same period a year earlier.
Etihad Airways bought a 24 per cent stake in Mumbai-based Jet Airways for US$379 million in 2013 after India opened up the aviation sector to allow foreign direct investment of up to 49 per cent by overseas airlines in its carriers."
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