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Surging fuel prices & India's budget flight boom clip Jet Airways' wings

Shares of the carrier, part-owned by Etihad Airways PJSC, plunged as much as 15 per cent Friday in Mumbai after the company postponed announcing its first-quarter earnings

Topics
Fuel Prices  |  Etihad Airways  |  Indigo

Anurag Kotoky Denise Wee & Kyunghee Park | Bloomberg 

Jet Airways India Ltd. was once at the forefront of India’s rapidly growing market for air travel, but a challenge from budget carriers and surging fuel prices are backing the airline into a corner.

Shares of the carrier, part-owned by Etihad Airways PJSC, plunged as much as 15 per cent Friday in Mumbai after the company postponed announcing its first-quarter earnings, less than a week after denying a report that it needs drastic measures to cut costs and bolster its finances. The stock is headed for its worst year since 2011 as Jet Airways’s finances deteriorated and ...

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First Published: Fri, August 10 2018. 11:48 IST
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