After a profitable first quarter Jet Airways slipped to red reporting Rs 99.6 crore stand alone loss in second quarter FY 2012. The loss attributable to high operating costs and lean season is much lower in comparison to Rs 713 crore loss in same period last year.
Revenue increased from Rs 3122 crore to Rs 3755 crore but the gains were wiped out due to increase in fuel costs, lease rentals and interest costs.
Analysts were anticipating the airline to post loss upto Rs 300 crore on the back of high operating costs and a lean season but the airline fared better than analyst expectations.