Friday, May 27, 2022

Jet Airways' Q4 net loss widens to Rs 234 cr; total income falls 33%

New Delhi: Jet Airways, which remains grounded for over two years, on Thursday reported a standalone net loss of Rs 233.63 crore for the three months ended March.

The full service carrier had a standalone net loss of Rs 107.01 crore in the year-ago period, according to a regulatory filing.

Total income stood at Rs 11.63 crore in the latest March quarter compared to Rs 17.73 crore in the year-ago period.

Currently, the airline is being managed by a monitoring committee.

"... the monitoring committee is not in a position to provide the consolidated financial results, as the subsidiaries of the company are separate legal entities, also currently non-operational and the team is facing huge difficulty in obtaining relevant data from the said subsidiaries," the filing said.

Jalan-Kalrock consortium won the bid for the airline under the insolvency resolution process. The carrier is in the process of being revived and last week, its air operator certificate was revalidated by aviation regulator DGCA.

The airline was shuttered in April 2019 after being bogged down by financial woes.

26/05/22 PTI/Business Standard

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