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Jet Airways posts fourth consecutive quarterly loss

February 8, 2014 11:33 am

India’s second-largest airline by domestic market share, Jet Airways has posted its fourth consecutive quarterly loss, as airlines battled high fuel costs and stiff competition limited fare increases, Reuters has reported. Mumbai-based Jet, which last year sold a 24% stake to Etihad Airways, reported a standalone net loss of Rs2.68bn for the third quarter to the end of December, compared with a profit of Rs850m for the same quarter a year earlier. Total income from operations rose 7.8% in the quarter to Rs45.36bn on a standalone basis, while expenses jumped 23% to Rs47.62bn, Jet said. The airline paid 11% more for fuel, compared with a year earlier.