Jet sees worst quarterly loss of Rs 891 cr

New Delhi: Owing to a slowdown in travel industry and a weaker rupee, Jet Airways posted its biggest ever quarterly loss for the July-September quarter. India's second-biggest airline by marketshare said its net loss for
jet sees worst quarterly loss of rs 891 cr -...
India TV Business Desk October 24, 2013 9:35 IST
New Delhi: Owing to a slowdown in travel industry and a weaker rupee, Jet Airways posted its biggest ever quarterly loss for the July-September quarter. India's second-biggest airline by marketshare said its net loss for the said quarter widened more than eight times year-on-year to Rs 891.01 crore.



This is for the third consecutive time that the company is posting loss. Earlier, Jet's biggest net loss was Rs 713 crore during July-September, 2011.

Sales during the just-ended quarter rose less than a percent to Rs 3,788.2 crore. Jet said its yield per passenger rose 11% to Rs 8,335. Its number of passengers rose by 12% while total departures rose by 6%, it added.

The airline blamed the record quarterly loss on “lean season and economic slowdown” leading to drop in yields.

It said during the quarter, jet fuel prices rose 8 per cent on a Y-o-Y basis. In contrast, Indian carriers have hiked fares only in September but a majority of tickets for travel in that month were sold earlier at lower fares.
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