Jet Airways shares slump after record quarterly loss

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.

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.

HT Image

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.