Wednesday, July 29, 2020

Jet Airways posted loss of Rs 5,539 crore in FY19

Mumbai: Bankrupt carrier Jet Airways, which is undergoing insolvency proceedings, posted a net loss of Rs 5,539 crore for FY19, according to an exchange filing.

The airline had posted a consolidated net loss of Rs 636 crore a year earlier.

The airline clocked revenue of Rs 23,314 crore for the year compared to Rs 25,177 crore in the previous year. It’s net worth at the end of FY19 was a negative Rs 12,695 crore.

The airline stopped operations in April last year and was dragged to India’s bankruptcy court in June. The insolvency process has dragged for more than a year and the airline has as yet been unable to get an investor.
29/07/20 Economic Times
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