Jet Airways posts worst quarterly loss of Rs 891 crore

New Delhi, Reuters | Updated : 23 October 2013, 08:35 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.

First Published: Wednesday, October 23, 2013 08:34 PM
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