August 3, 2010 / 8:02 PM / in 7 years

UPDATE 1-Jazz Air Q2 profit falls on higher fuel costs

* Q2 net income C$15.6 mln vs C$25.4 mln

* Operating revenue down 4 pct

Aug 3 (Reuters) - Canada’s Jazz Air Income Fund JAZ_u.TO posted a 39 percent drop in quarterly profit, partly hurt by a rise in fuel costs.

For the second quarter, net income fell to C$15.6 million from C$25.4 million, a year ago.

Operating revenue fell about 4 percent to C$359 million, hurt by a lower U.S. dollar exchange rate, the company said in a statement. Analysts on average expected the company to post revenue of C$369.3 million, according to Thomson Reuters I/B/E/S.

Aircraft fuel costs rose by C$9.3 million in the quarter.

Units of the Halifax, Nova Scotia-based Jazz were up 1 Canadian cent at C$4.38 Tuesday afternoon on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Vyas Mohan)

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