income. These aircraft will be leased out in the next few months, the airline said.
Fuel rates rose 8 per cent year-on-year, it said, adding it passed on the spike in fuel to passengers and that the full impact of the fuel surcharge will be seen from the current quarter.
Toomey said the airline has managed to remain competitive through series of planned steps, such as discontinuing loss-making routes and stringent cost control.
"We believe and strive for customer satisfaction by investing into effective marketing strategies and proactive initiatives resulting in enhancing our guest experience," he said.
On the outlook, Toomey said the third quarter will reflect high seasonality, which will help improve yields. Domestic fare revision which was made at the fag end of Q2 will start showing positive effect in the balance part of the year and that booking trends for the quarter are quite encouraging."
However, he warned the rupee fall and oil prices continue to be a cause of concern.
Toomey also said the airline will be retiring a portion of its high cost debt, which stood at over USD 2 billion, through equity infusion and cheaper debt.
Shares of the company closed at Rs 346.05 apiece, down 0.43 per cent.