Jet Airways net loss after tax narrows to Rs 54.94 crore in March-quarter

Jet Airways, on Thursday, reported a consolidated net loss after tax at Rs 54.94 crore for the March quarter. The company reported a net loss of Rs 234 crore a year ago.

The company’s consolidated net revenue from operation rose by 12.45 per cent to Rs 12.37 crore for the March quarter as compared to Rs 11 crore in the year-ago period.

On 17 May, Aviation industry veteran Sanjiv Kapoor, who stepped down as the CEO-Designate of Jet Airways last month, has joined Saudia Group.

Formerly known as Saudi Arabian Airlines, Saudia is the national carrier of Saudi Arabia.

"I am thrilled to share that I have joined the Saudia Group as Advisor to His Excellency Ibrahim Al-Omar, Director General of the Group," he said in a tweet on Wednesday. Kapoor was associated with a number of airlines, including SpiceJet, Vistara and Go First, in various capacities.

He was the CEO-Designate of the grounded Jet Airways, for which the Jalan Kalrock Consortium has emerged as the winning bidder under the insolvency resolution process. In a Linkedin post, Kapoor said that aviation will play a key role in the Saudia Arabia's Vision 2030, which aims to attract 100 million visitors to the leading Gulf nation.