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E-mail ID will not be published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

  • Let’s not get carried away over joint Indo-US action on terror

    Notwithstanding prime minister Narendra Modi’s successful visit to the Big Apple, there is need to guard against too many expectations over the so-c

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Simon J Evenett

Where the mind leads, actions follow

Whether in business, government, non-profits, or elsewhere, what assumptions underpin ...

Zehra Naqvi

Fading empathy in the modern world

The episode of a man being mauled to death by ...

Gautam Gupta

French fashion icon Gaultier’s pret goodbye

With Gaultier gone, the world of international prêt will never ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture