Jet Q3 net loss at Rs 587.77 cr; board approves debt resolution plan

Jet Airways board approves draft resolution plan primarily comprising infusion of funds, restructuring of debts and monetisation of assets

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.