Jet loss again

Victoria
By Victoria January 23, 2012 11:52

Jet loss again

Jet Airways has posted its fourth straight quarterly loss on Friday as higher fuel costs continued to hurt its financials. The airline posted a Rs 101.22 crore loss for the December quarter against a Rs 118 crore profit during the same period last year.

Jet stated that: “We could not pass on the fuel cost to customers and hence had operating losses”. Jet did however benefit from the sale and leaseback of aircraft, a property deal and foreign-exchange gains during the quarter. Jet earned around Rs 400 crore from these transactions. This shows you how bad the core of the airline is performing.

Going forward, the company will do a sale-and-leaseback of around eight to 10 aircraft by March to boost cash flow. Jet has no plans to infuse fresh equity into the airline.

Victoria
By Victoria January 23, 2012 11:52
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