Jet Air posts worst ever quarterly loss in Q2 as rise in fuel cost due to rupee depreciation bites

23 October, 2013

Jet Airways, in which Abu Dhabi’s Etihad is buying a stake, reported its worst quarterly loss on record as carriers in Asia’s third-biggest economy battle high fuel costs and taxes.

Mumbai-based Jet, India’s second-biggest carrier by domestic market share, reported a net loss of 8.91 billion rupees for the fiscal second quarter to September 30, compared with a net loss of 997 million rupees in the same period a year earlier.

Jet has won the cabinet’s approvals to sell a 24 per cent stake to Etihad for about $334 million, but is yet to complete the deal as it awaits other approvals.


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Jet Air posts worst ever quarterly loss in Q2 as rise in fuel cost due to rupee depreciation bites

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