Jet Airways Q1 net loss at Rs 225 crore

Submitted by Somesh Chawla on Fri, 07/24/2009 - 22:03

Jet Airways Q1 net loss at Rs 225 croreJet Airways India, leading private carrier, has clocked a net loss of Rs 225 crore during the first quarter ended June 30, 2009.

In the same quarter previous fiscal, airlines net profit figure stood at Rs 143 crore.

The private carrier stated in a communiqué to Bombay Stock Exchange (BSE) that its total income has witnessed a downward trend to Rs 2,371 crore during the latest quarter from Rs 2,867 crore in the same period last fiscal.

The airline authority has attributed the losses during the quarter ended June 30, 2009 to intense competition and over capacity in the market besides high interest cost.
In a separate filing to BSE, the company has informed that the board has sanctioned raising USD 400 million.

Stock of Jet Airways India settled at Rs 247 on Bombay Stock Exchange (BSE), up 0.43 per cent from previous close.


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