Jet Airways posts Rs 588 cr standalone net loss for Q3

Jet Airways here on Thursday reported Rs 587.7 crore standalone net loss for the third quarter ended December 31, 2018. It had reported a net profit of Rs 165.25 crore during the year-ago period.

"Despite improvement in RASK (revenue per available seat kilometre), which grew 2.6 per cent over Q3FY18 due to seasonal, demand-led strengthening of fares, higher costs because of the price of Brent crude (up 29 per cent year-on-year) and the depreciated Indian rupee impacted the airline's overall business performance," the company said in a statement.

"These factors ensured that the sequential reduction in non-fuel CASK (cost per available seat kilometre) over the last few quarters could not be sustained. For Q3FY19, Jet Airways' non-fuel CASK increased by 13.7 per cent on a year-on-year basis to Rs 3.43 crore. Excluding forex impact, non-fuel CASK increased 7.5 per cent," it said.

On a consolidated basis, the airline's net loss stood at Rs 732 crore for Q3FY19, against a net profit of Rs 186 crore in the year-ago quarter.

The company said it has restructured its network during the quarter, moving capacity away from unviable to profitable routes.

--IANS

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