Jet Airways posts worst quarterly loss of Rs 891 crore
Mumbai-based Jet, India's Second-biggest Carrier By Domestic Market Share, Reported A Net Loss Of Rs 8.91 Billion For The Fiscal Second Quarter To September 30, Compared With A Net Loss Of Rs 997 Million In The Same Period A Year Earlier.
Reuters New Delhi Updated on: 23 Oct 2013, 20:35 PM
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 Rs 8.91 billion for the fiscal second quarter to September 30, compared with a net loss of Rs 997 million 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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First Published : 23 Oct 2013, 20:34 PM
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