New Delhi:
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.
