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Jet Airways reports fifth consecutive quarterly loss

: Thursday, May 29 - 2014 @ 02:11

Indian carrier, Jet Airways has posted its biggest-ever quarterly loss, as costs jumped and it took a charge on its investment in a subsidiary, Reuters has reported. India’s second-largest airline, part-owned by Abu Dhabi’s Etihad Airways, said that standalone net loss was Rs21.54bn ($366.5m) for its fiscal fourth-quarter to end-March, compared with a loss of Rs4.96bn a year earlier. The latest quarterly loss was Jet’s fifth in a row. For the fourth quarter, Jet’s total expenses jumped about 29% from a year earlier to Rs59.32bn on a standalone basis, while total income grew 16% to Rs45.66bn.

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Thursday, May 29- 2014 @ 2:11 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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