The second largest airline of the country Jet Airways is planning to expand its network with a focus on profitability and not market share, as it strives to turn its ship around and become a financially viable company.

"Based on market dynamics, the review of the company’s network and operations, both on domestic and international routes, will continue to be an on-going process to help deliver a more strategic, efficient, and economically viable network with a focus on profitability rather than market share," Jet Airways said.

This comes in contrast to the strategy adopted by peers whereby airlines over-supply routes to weed out competition, a trait analysts have often linked to IndiGo.

The airline, which has been posting losses for the last three consecutive quarters, said that it will stop flying on routes which are no longer making money and would deploy this capacity on productive international and domestic sectors.

Jet Airways on Monday reported a net loss of Rs 1,297.5 crore for the second quarter ended September 30, 2018 as against a net loss of Rs 1,323 crore for first quarter of this year.

"The measures will include rationalisation of operations on select, uneconomic routes and the redeployment of these assets to more productive and economically efficient international as well as domestic sectors, closely aligning capacity with the demand characteristics of specific markets," the Naresh Goyal-led airline said.

As part of a comprehensive review, the airline will also look at hub connectivity, concentration of capacity, enhancing frequency and density.

"While we navigate the challenges posed by the current industry environment, our focus and attention remains on safety and operational reliability... with our clearly defined focus on profitability, we are in the midst of turning the ship around," chief executive officer Vinay Dube said post announcement of Jul-Sep earnings.

The cash-strapped airline, which has reportedly been in talks with Tata Group and Delta Airways for stake sale, said that it is engaging with financial stakeholders for funding needs.

"...continues to engage with financial stakeholders for supporting its funding requirements till it starts generating operational surplus and is actively working on the monetisation of its assets and capital infusion," Jet Airways said.

During the September quarter, the airline saw revenue from codeshare and interline partners increase by 31 percent and expanded its codeshare cooperation with Delta Air Lines, Etihad Airways, Korean Air, Malaysian Airlines, and, Bangkok Airways.

Reaffirming its faith in the Boeing 737 MAX fleet, an aircraft type which was involved in the tragic Lion Air 610 accident late October, the airline said that it will induct a total of 11 B737 MAX planes in the current fiscal and plans to replace its old fleet with these fuel-efficient planes.

The airline is also launching three additional services to Singapore from Mumbai, Delhi and Pune. It will also launch additional frequencies between Delhi-Bangkok, Mumbai-Doha, Delhi-Doha, Mumbai-Dubai and Delhi-Kathmandu during the winter schedule.

First Published:Nov 12, 2018 9:53 PM IST