Jet Air posts biggest quarterly loss

New Delhi: India’s leading private airline, Jet Airways, has posted its biggest quarterly loss in more than three years after the aviation industry was hit by the surge in jet fuel expenses.
The airline posted a net loss of Rs 384.5 crore in the quarter that ended on 30 September. It had posted a profit of Rs 28.3 crore during the corresponding period last year.
The total income, however, increased to Rs 3,258.04 crore during this quarter from Rs 2,254.22 crore in the corresponding period last year, the company said in a statement.
Jet Airways chairman, Mr Naresh Goyal, forged a strategic alliance with rival airline Kingfisher Airlines this month to cut expenses to offset below-cost fares, higher expenses and an economic slowdown that reduced demand for air travel.
25/10/08 The Statesman

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Categories: Jet Airways Oct 2008