NEW DELHI: Jet Airways, India’s No.2 carrier by domestic market share, reported its fourth straight quarterly loss as airlines in Asia’s third-biggest economy battle high fuel costs and taxes and stiff competition limits fare increases.
Jet, which last year sold a 24 percent stake to Abu Dhabi’s Etihad in the first deal in the sector after the government eased restrictions, reported a net loss of Rs2.68bn ($43m) for the third quarter to end-December. It had reported a profit of Rs850m rupees in the year-ago quarter.
The Centre for Asia Pacific Aviation, a consultancy, had forecast a third-quarter loss of between $60m and $80m for Jet, which had reported a record $143 million loss for the second quarter.
Reuters
