Fuel costs, forex loss may hit Jet

Bangalore: Exorbitant jet fuel and foreign exchange losses are likely to pull full service carrier Jet Airways into losses in the fourth quarter of 2007-08.
The largest domestic carrier (by market share), which had reported net profit in the fourth quarter in FY07 (Rs 88 crore) and FY06 (Rs 227.1 crore), could slip into losses this financial year, revealed a senior executive of the airline.
The airline will be announcing its results on May 23.
According to a Jet executive, the airline?s spend on aviation turbine fuel (ATF) is likely to go up to Rs 1,200 crore. This is more than double the amount the airline spent on fuel in the December quarter (Rs 525.7 crore).
16/05/08 Praveena Sharma/ DNA MONEY/Sify

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Categories: Jet Airways May 2008