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Jet Airways posts Rs 13.26 bn Q1 loss due to high fuel prices, low fares

The airline blamed increases in costs and low fares for the loss. Rival IndiGo's profit fell 97% in the quarter; SpiceJet has suffered a loss of Rs 0.38 billion

Topics
Spicejet  |  Indigo  |  Etihad

Aneesh Phadnis  |  Mumbai 

Jet Airways on Monday said it will seek capital infusion and sell the stake in its loyalty programme after reporting a net loss of Rs 13.26 billion in the April-June (Q1) quarter of 2018-19 (FY19). This is the airline’s third-highest quarterly loss.

On August 9, Jet had deferred its quarterly results amid differences with its auditors, leading to enquiries by stock exchanges and the market regulator. The auditors did not modify their opinion and reiterated that the airline’s future was dependent on raising capital and generating sustainable cash flows. The airline ...

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First Published: Tue, August 28 2018. 02:31 IST
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