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Jet Airways Shares Slump After Record Quarterly Loss

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Shares in Jet Airways (India) Ltd, part-owned by Abu Dhabi's Etihad, fell as much as 10 per cent 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.

Jet, the No. 2 Indian carrier by domestic market share, said on Tuesday (27 May) that standalone net loss was Rs 2154 crore ($366.5 million) for its fiscal fourth-quarter to end-March, compared with a loss of Rs 496 crore a year earlier.

Jet shares recovered later but were still down 6.6 per cent as of 11:12 a.m.

(Reuters)


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