Jet Airways net loss narrows to Rs 100 cr
MUMBAI, NOV 2:
Jet Airways’ net loss shrunk to Rs 100 crore in the September quarter on the back of a forex gain of Rs 70 crore in the quarter. The airline suffered a forex loss of Rs 276 crore in the corresponding quarter last year when it posted a loss of Rs 714 crore.
“The lean season, the economic slowdown and the consequential dip in industry passenger traffic coupled with high fuel prices and rupee depreciation has affected the overall results,” the company said.
Fuel rates increased around 17 per cent year-on-year — a portion of this was passed on to passengers in the form of an increase in fuel surcharge during the quarter. The company said the full impact of this would be seen from the current quarter.
Aircraft fuel expenses increased to Rs 1,681 crore for the quarter ended September 31, 2012, from Rs 1,491 crore in the corresponding quarter last year. Finance costs also increased to Rs 322 crore in the second quarter as against Rs 228 crore in the year-ago period.
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