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HindustanTimes Wed,22 Oct 2014

Jet Airways shares slump after record quarterly loss

Reuters  Mumbai, May 28, 2014
First Published: 09:42 IST(28/5/2014) | Last Updated: 09:44 IST(28/5/2014)

Shares in Jet Airways (India) Ltd, part-owned by Abu Dhabi's Etihad, fell as much as 10.1% in early morning trade after the carrier posted a record quarterly loss partly as a result of higher jet fuel expenses and a one-time charge on a unit.

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Jet, the No. 2 Indian carrier by domestic market share, said on Tuesday that standalone net loss was 21.54 billion rupees ($366.5 million) for its fiscal fourth-quarter to end-March, compared with a loss of 4.96 billion rupees a year earlier.

Jet shares were trading down 6.4% 251.45 rupees as of 9:23 am.


 


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