Jet Airways reports $35 million loss in first quarter

Tags: News
Jet Airways Ltd, India's no. 2 airline by market share, said on Monday it lost 2.18 billion rupees ($35.6 million) during the three months to end-June, less than a year earlier after its revenues rose and financing costs fell.

The airline, 24 percent owned by Abu Dhabi's Etihad Airways, has now reported six straight quarters of losses, as it grapples with high costs, low fares and fierce competition in its home market.

Last year Jet reported a 3.55-billion-rupee loss for its first quarter.

Despite fast-growing demand for air travel, all but one of India's largest four airlines are losing cash.

Jet Airways, which has not reported an annual profit since 2007, is betting on cost cuts and the launch of more international routes to return it to profitability by 2017.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Ecology appears to be in favour of Modi’s strategy

    In reacting with alacrity to the earthquake disaster in Nepal, prime minister Narendra Modi has demonstrated two things.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The difficulties with war history

There have been a series of commemorative events lately. Last ...

Anish Chakraborty

Betting big on Pascal’s wager

Blaise Pascal was a 17th century French philosopher mathematician and ...

Bubbles Sabharwal

The five cardinal rules of urban snobs

Believe it or not there is the unspoken-of society of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture