Jet Airways slips to Q1 loss
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Jet Airways has reported a quarterly net loss from a profit a year earlier due to rising fuel costs AFPreported.It posted a net loss of INR 1.23 billion rupees for the first quarter ended June, from a profit of INR35 million in the same period a year earlier.Total revenues for the quarter rose 18.5% to INR35.82 billion.The report said air passenger traffic has been rising this fiscal year, leading to healthy seat occupancies for airlines, but this has been offset by steep fuel costs, which have hurt most Indian airlines’ earnings.Jet said its fuel costs rose 57% in the April to June quarter.
Comments are closed.