Wednesday, August 09, 2023

Jet Airways Q1 FY24 results: Net loss narrows to Rs 50.65 cr from Rs 390 cr

Country’s oldest private airline Jet Airways India Ltd on Tuesday reported a standalone net loss of Rs 50.65 crore in the June quarter of the current financial year 2023-24 (FY24). The carrier had reported a loss of Rs 390 crore in the June quarter (Q1) of FY23. In the fourth quarter of FY23, Jet Airways reported a net loss Rs 54 crore.

The full-service carrier's revenue from operations was Rs 39.08 crore for the quarter under review. Jet Airways had posted a total revenue of Rs 13.10 crore in the same quarter last year, according to a regulatory filing on Tuesday.

Jet Airways stopped flying in April 2019 after running into financial difficulties. However, ownership transfer has been on hold due to ongoing differences between the lenders and Jalan Kalrock Consortium.

Before the suspension of its operations in 2019, the airline flew to more than 65 domestic as well as international destinations, with a fleet of 124 narrow and wide-body aircraft.

08/08/2023 Business Today

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