New Delhi: Jet Airways Ltd , the country's No.2 carrier by domestic market share, said on Monday it did not expect a big fall in revenue due to a recent rating downgrade of India's aviation safety by the United States.
Jet, which sold a 24 percent stake to Abu Dhabi's Etihad last year, is replanning its US strategy after the downgrade, a senior company executive told analysts on a conference call. The airline posted a $43 million net loss for the December-quarter on Friday, its fourth straight quarterly loss.
The US Federal Aviation Administration downgraded India's safety rating to Category 2 on Jan. 31, meaning Jet and state-run Air India, the only two Indian carriers flying to the United States, cannot increase flights.
10/02/14 Reuters/Economic Times
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Jet, which sold a 24 percent stake to Abu Dhabi's Etihad last year, is replanning its US strategy after the downgrade, a senior company executive told analysts on a conference call. The airline posted a $43 million net loss for the December-quarter on Friday, its fourth straight quarterly loss.
The US Federal Aviation Administration downgraded India's safety rating to Category 2 on Jan. 31, meaning Jet and state-run Air India, the only two Indian carriers flying to the United States, cannot increase flights.
10/02/14 Reuters/Economic Times
