India's Jet Airways swings to quarterly profit

NEW DELHI Fri Feb 1, 2013 3:16pm IST



NEW DELHI Feb 1 (Reuters) - India's second biggest carrier Jet Airways, which is in final talks to sell a stake to Abu Dhabi's Etihad Airways, swung to a quarterly profit on Friday due to rising fares in an under-serviced market and on lower costs.

Jet earned 850 million rupees ($15.98 million) for October-December, exceeding estimates for the third straight quarter, compared with a loss of 1.01 billion rupees a year back.

Analysts were expecting a profit of 278.5 million rupees, according to Thomson Reuters I/B/E/S. ($1 = 53.1900 Indian rupees)

(Reporting by Anurag Kotoky; Editing by Jeremy Laurence)