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Jet Airways shares plunge to 15-month low after Rs 10 billion Q4 loss

Jet's bigger rival IndiGo, owned by InterGlobe Aviation, had reported a 73 percent slump in March-quarter profit


Shares of Jet Airways (India) Ltd on Thursday plunged to an over 15-month low after the company posted a 10.36 billion-rupee ($151.64 million) loss for the March quarter, as the aviation industry is grappling with higher fuel prices. Aircraft fuel expenses surged 31 percent for the quarter while foreign exchange losses amounted to 1.32 billion rupees, the country's second-largest airline by market share said in a statement on Wednesday.  Jet Airways flagged that it has incurred a loss during the year and has a negative net worth that "may create uncertainties." ...

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First Published: Thu, May 24 2018. 22:24 IST