Jet Air posts Rs 45 crore net loss
Price war in the Indian skies has taken its toll on market leader Jet Airways, which suffered a net loss of Rs 45 crore during the first quarter of current financial year, despite clocking a 25 per cent increase in revenue at Rs 1,680 crore.
Announcing results for the April-June quarter, a day after its Chairman Naresh Goyal received the best aviation company NDTV Profit Award from Prime Minister Manmohan Singh, Jet said its overall financial performance was impacted by factors including "continued yield pressure in our domestic and international operations and an increase in fuel and other input costs".
However, the premier private carrier reported pre-tax profit on domestic operations of Rs 11.8 crore.
"Loss before tax in our start-up international operations of Rs 71.3 crore resulted in an overall loss before tax for the company of Rs 59.5 crore in the quarter", the airline said.