India's Jet Airways posts biggest quarterly loss in three years
Sunday, October 26, 2008
The airline lost Rs 384 crore (€61,000,000) this quarter, compared to a Rs 28 crore profit (€4,500,000) in the same period last year. There was an increase in expenditure of 143% on fuel costs to wipe out a 45% income increase. The total cost of fuel has risen from Rs 696 crore (€110,700,000) last year to Rs 1690 crore (€268,800,000), and income rose from Rs 2,254 crore (€358,400,000) to Rs 3,258 crore (€518,150,000) in the same period.
Faced with an economic slowdown and surging fuel prices, last month Jet entered an alliance with Kingfisher Airlines. The pair hope to offset their crippling costs by collaboration.
- "Jet Airways posts Rs 384-cr loss" — , October 26, 2008
- "Jet Air posts biggest quarterly loss" — , October 25, 2008