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Jet Airways Posts $43 Mn Net Loss For Q3

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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 per cent stake to Abu Dhabi's Etihad in the first deal in the sector after the government eased restrictions, reported a net loss of Rs 268 crore for the third quarter to end-December. It had reported a profit of Rs 85 crore in the year-ago quarter.

The Centre for Asia Pacific Aviation, a consultancy, had forecast a third-quarter loss of between $60 million and $80 million for Jet, which had reported a record $143 million loss for the second quarter.


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