Wednesday, November 14, 2018

Jet Airways reports third consecutive quarterly loss of Rs 1,261 crore on higher fuel, steep rupee

Jet Airways on Monday reported its third consecutive quarterly losses for the quarter ending September, with a consolidated net loss of Rs 1,261 crore, roiled by higher fuel cost that soared 59 percent, and a steep rupee fall that led to a sevenfold spike in forex losses. The airline had posted a net profit of Rs 71 crore in the same period last fiscal. The cash-strapped airline, which is reportedly looking for investors to tide over the liquidity crisis, said its fuel bill jumped 58.6 percent to Rs 2,419.76 crore during the quarter. In the year-ago period, it had spent Rs 1,525.66 crore in fuel cost.
14/11/18 Business Today

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