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Jet Airways reports Rs1,323-crloss in Q1

Updated At : 06:21 AM Aug 28, 2018 IST

Mumbai, August 27

The Naresh Goyal-run Jet Airways today reported a whopping Rs 1,323 crore of net loss for the three months to June owing to higher fuel cost and other expenses due to the falling rupee.

The ongoing cash crunch has forced the airline to embark on a Rs 2,000-crore cost-cutting drive and stake sale in its loyalty programme Jet Previlage as part of capital infusion.

The airline, which publicly admitted to cash flow issues, had posted a net profit of Rs 53.50 crore in the year-ago period.

Total income marginally improved to Rs 6,066 crore from Rs 5,953 crore a year ago, the airline said. — PTI

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Jet Airways reports Rs1,323-crloss in Q1

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Jet Airways reports Rs1,323-crloss in Q1