 "Jet Q3 net loss at Rs 587.77 cr; board approves debt resolution plan")
Struggling carrier Jet Airways on Thursday reported a standalone net loss of Rs 587.77 crore for the third quarter ended December 31.
Further, the Jet Airways board approved the draft resolution plan primarily comprising infusion of funds, restructuring of debts and monetisation of assets.
The company had posted a standalone net profit of Rs 165.25 crore in the same quarter previous fiscal, Jet Airways said in a regulatory filing.
The carrier said revenue from operations during the quarter under review stood at Rs 6,147.98 crore as against Rs 6,086.20 crore in the year-ago period.
Total expenses in the third quarter shot up to Rs 6,786.15 crore as compared to Rs 6,042.58 crore in the same quarter last fiscal, it added.
Aircraft fuel expenses stood at Rs 2,387.72 crore as compared to Rs 1,840.08 crore in the corresponding period last year, while aircraft and engines lease rentals were at Rs 730.35 crore as against Rs 583.67 crore.
Domestic revenue stood at Rs 2,560.44 crore, down from Rs 2,749.05 crore in the same quarter last fiscal, while the same for international operations was also down to Rs 3,587.54 crore as against Rs 3,337.15 crore, the filing added.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%