Jet Airways' net loss narrows to Rs.2,097.41 crore

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Airlines major Jet Airways narrowed down its losses in 2014-15 to Rs. 2,097.41 crore compared to a loss of Rs.4,123 crore during 2013-14 even as its total revenue rose by over 10 percent.

Its consolidated revenue during the fiscal ended on March 31, 2015 stood at Rs.20,966 crore against Rs.19,036 crore in fiscal 2014.

The company said its passenger revenues also rose by 10.6 percent to Rs.17,703 crore in 2014-15 compared to Rs.16,005 crore in 2013-14.

"While the Indian aviation market is still subject to ongoing structural challenges and robust competition is placing pressure on yields, we will continue to progress by focusing on delivering an enhanced experience for our guests and improving efficiency throughout the business," chairman Naresh Goyal said in a statement.

The carrier's EBITDAA (earnings before interest, taxes, depreciation and amortization) during the review period turned positive at Rs.209 crore compared to a negative Rs.903 crore during 2013-14.

It said the codeshare traffic surged by 90 percent from 644,091 passengers carried during 2013-14 to 1,221,468 in 2014-15.

The revenue from cargo also saw an improvement by six percent at Rs.1,467 crore in 2014-15 compared to Rs. 1,384 crore during 2013-14.