Jet Airways posts fourth-quarter loss due to higher fuel costs

Jet Airways (India) Ltd, the country's second-largest airline by market share, posted a loss in the fourth quarter due to higher fuel expenses.

The company posted a loss of Rs 10.36 billion ($151.50 million) in the three months ended March 31, compared with a profit of Rs 6.02 billion a year earlier, Jet Airways said on Wednesday. 

Revenue from operations rose about nine percent to Rs 59.25 billion, while aircraft fuel expenses surged 31 percent to Rs 20.63 billion.